An empirical analysis of the IPO underpriced in Chinese A-share market

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Author
Yang, Xiaoqian
Date
2013Type
Thesis
Publisher
Cardiff Metropolitan University
Metadata
Show full item recordAbstract
Initial public offering (IPO) is a hot topic in stock market especially in China, due to Chinese
IPO market is a new market with 20 years. However, in this developing market, IPO always
under-priced which means the share jumps to a high share price on the first issuing day. This
research will find out why this happening and make some recommendations to improve
Chinese IPO market, Chinese A share market will be used to collect sample.
In this report, it will mainly contain three parts. Firstly, literature review, it will talk about
why firms choose to go public and analyze why IPO underprice depending on some
hypotheses.
Secondly, data collection, the sample is collected from Chinese A-share market, sample size
is 100 stocks in 2012. And also will discuss the connection between the dependent variable
and independent variables by using ordinary least square (OLS) multiple regression analysis.
Then end with conclusion and recommendation. This part will discuss why IPO always
underprice in China depending on research findings, also make recommendations for those
who might relevant with IPOs, such as investors, managers and government.
Description
Master of Business Administration
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