The Initial Public Offering of the Industrial and Commercial Bank of China (ICBC)

2012 ◽  
pp. 199-228
Author(s):  
Franklin Allen ◽  
Darien Huang ◽  
Jun ‘QJ’ Qian ◽  
Mengxin Zhao
Keyword(s):  
Commercial Bank ◽  
Initial Public Offering ◽  
Bank Of China ◽  
Public Offering

Estimation of Securities Positioning Efficiency in Commercial Banks

2021 ◽  
pp. 235-256
Author(s):  
Natalia Frolova ◽  
Evgeniy Frolov
Keyword(s):  
Statistical Analysis ◽  
Literature Review ◽  
Commercial Bank ◽  
Initial Public Offering ◽  
Commercial Banks ◽  
Least Squares Method ◽  
Econometric Analysis ◽  
Public Offering ◽  
The Given ◽  
Critical Literature

The given research is devoted to the acute issue of efficiency of valuable assets positioning carried out by commercial banks. The chapter is aimed at examining factors that affect the efficiency of securities placement by commercial banks, as well as an econometric analysis based on the least squares method of the significance of the selected factors and their impact on the efficiency indicator. While researching this issue, the phenomenon of adaptability, which means the higher the price set, is in comparison with the medium price scale, the higher the underpricing at setting with corresponding other equal terms was singled out The methods of critical literature review, statistical analysis, and econometric model creation have been used to justify it. Moreover, the research resulted in model creation, which characterizes the state of a definite commercial bank to be ready for emission of assets by means of initial public offering.

scholarly journals The Impact on IPO Assurance Fees of Commercial Bank Entry into the Equity Underwriting Market

2000 ◽  
Vol 19 (s-1) ◽  
pp. 23-35 ◽  
Author(s):  
Neil L. Fargher ◽  
L. Paige Fields ◽  
Michael S. Wilkins
Keyword(s):  
Commercial Bank ◽  
Initial Public Offering ◽  
Commercial Banks ◽  
The United States ◽  
Litigation Risk ◽  
Equity Offerings ◽  
Accounting Firms ◽  
Bank Equity ◽  
Public Offering ◽  
The Impact

Changes in the provisions of the United States Banking Act of 1933 have allowed the entry of commercial banks into the initial public offering (IPO) underwriting market. In this paper, we examine the effect of commercial bank equity underwriting on the fees paid to auditors. We predict that IPO assurance fees will be higher for equity offerings underwritten by commercial banks than for offerings handled by traditional underwriters because (1) commercial banks are relatively inexperienced in bringing firms public, requiring additional assistance from accounting firms in the IPO process; (2) new entrants into the underwriting market may manage lower quality issues that require additional assurance services; and/or (3) since commercial banks have greater resources than do traditional investment banks, they are likely to be exposed to greater litigation risk, providing incentives for commercial bank underwriters to ensure that the IPO firm purchases greater assurance from the auditor. However, we expect fees to decrease if a previous lending relationship existed between the commercial bank and its client. Our findings, based on a sample of issues brought to market between 1991 and 1997, support these expectations.

Pengaruh Reputasi Underwriter, Umur Perusahaan, dan Persentase Penawaran Saham 53 kepada Publik terhadap Underpricing

2016 ◽  
Vol 8 (1) ◽  
pp. 53-74
Author(s):  
Maria Jeanne ◽  
Chermian Eforis
Keyword(s):  
Initial Public Offering ◽  
Stock Price ◽  
Stock Exchange ◽  
Secondary Data ◽  
Secondary Market ◽  
Financial Statement ◽  
Data Set ◽  
Multiple Regression Method ◽  
Underwriter Reputation ◽  
Public Offering

The objective of this research is to obtain empirical evidence about the effect of underwriter reputation, company age, and the percentage of share’s offering to public toward underpricing. Underpricing is a phenomenon in which the current stock price initial public offering (IPO) was lower than the closing price of shares in the secondary market during the first day. Sample in this research was selected by using purposive sampling method and the secondary data used in this research was analyzed by using multiple regression method. The samples in this research were 72 companies conducting initial public offering (IPO) at the Indonesian Stock Exchange in the period January 2010 - December 2014; perform initial offering of shares; suffered underpricing; has a complete data set forth in the company's prospectus, IDX monthly statistics, financial statement and stock price site (e-bursa); and use Rupiah currency. Results of this research were (1) underwriter reputation significantly effect on underpricing; (2) company age do not effect on underpricing; and (3) the percentage of share’s offering to public do not effect on undepricing. Keywords: company age, the percentage of share’s offering to public, underpricing, underwriter reputation.

APAKAH FAKTOR EKSTERNAL MEMPREDIKSI UNDERPRICING LEBIH BAIK DIBANDINGKAN FAKTOR INTERNAL? STUDI INITIAL PUBLIK OFFERING DI BEI TAHUN 2009-2017

2020 ◽  
Vol 7 (1) ◽  
Author(s):  
Saefudin Saefudin ◽  
Tri Gunarsih
Keyword(s):  
Interest Rates ◽  
Initial Public Offering ◽  
Stock Exchange ◽  
Sample Selection ◽  
Secondary Data ◽  
Secondary Market ◽  
Company Size ◽  
Negative Effect ◽  
Underwriter Reputation ◽  
Public Offering

Underpricing is a phenomenon that still occurs in the Indonesian capital market, where the offering price of shares in the primary market is lower than the opening price or closing price on the first day on the secondary market. This study aims to examine the effect of Return On Assets (ROA), Debt to Equity Ratio (DER), company size, underwriter reputation, age, and interest rates on the underpricing of shares in companies’s Initial Public Offering (IPO) listing on the Indonesia Stock Exchange (BEI) in 2009 to 2017. The population in this study are companies that conduct IPOs on the BEI period 2009 to 2017. The sample selection in this study uses a purposive sampling method, based on certain criteria. The sample in this study were 183 underpricing companies from 205 companies conducting IPO in the period 2009 to 2017. The data used in this study used secondary data. The multiple regression analysis was implemented in this study. The results showed that DER, company size, and underwriter reputation did not significantly influence underpricing. While ROA, age and interest rates have a significant negative effect on underpricing. In this study, investors consider ROA, age, interest rates compared to DER, company size, and the reputation of the underwriter to invest in companies that make an IPO.Keywords: Underpricing, Initial Public Offering, and Indonesian Stock Exchange.

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