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Working paper
Initial Public Offerings in China: Underpricing, Statistics and Developing Literature
In: Research in International Business and Finance, Forthcoming
SSRN
Working paper
SSRN
CEO Leadership, Corporate Innovation and Earnings Management
In: LEAQUA-D-24-00161
SSRN
The impact of governmental intervention on the association between initial public offering and future stock issuance
We examine the effect of initial public offering (IPO) characteristics on seasoned equity offering (SEO) decisions in relation to governmental intervention in China. Our results confirm the process of underpriced IPOs in promoting earlier and larger IPOs in the Chinese context. The study examines three channels through which the Chinese government intervenes in equity issuance activities named state ownership, politically connected executives and economic development areas. We find that the connection between IPOs and SEOs becomes less apparent in government-intervened firms. We attribute our results to the conflict between the state and minority shareholders, which leads to high uncertainty and risk in government-intervened firms.
BASE
The Impact of Governmental Intervention on the Association between Initial Public Offering and Future Stock Issuance
In: British Journal of Management, Band 31, Heft 4, S. 665-687
SSRN
The impact of governmental intervention on the association between initial public offering and future stock issuance
In: Gounopoulos , D , Guney , Y , Leng , J & Patsika , V 2020 , ' The impact of governmental intervention on the association between initial public offering and future stock issuance ' , British Journal of Management , vol. 31 , no. 4 , pp. 665-687 . https://doi.org/10.1111/1467-8551.12400
We examine the effect of initial public offering (IPO) characteristics on seasoned equity offering (SEO) decisions in relation to governmental intervention in China. Our results confirm the process of underpriced IPOs in promoting earlier and larger SEOs in the Chinese context. The study examines three channels through which the Chinese government intervenes in equity issuance activities, namely state ownership, politically connected executives and economic development areas. We find that the connection between IPOs and SEOs becomes less apparent in government‐intervened firms. We attribute these results to the conflict between the state and minority shareholders, which leads to high uncertainty and risk in government‐intervened firms.
BASE
The Impact of governmental intervention on the association between initial public offerings and future stock issuance
In: British Journal of Management, Band 31, Heft 2020
SSRN
CEO Overconfidence and the Probability of Corporate Failure: Evidence from the UK
In: The European Journal of Finance, Forthcoming
SSRN
SSRN