An evaluation of the effect of the IPO regulation reforms in China on IPOs of high-tech firms

Han, Sijing

dc.contributor.advisor	Boabang, Francis
dc.coverage.spatial	China
dc.creator	Han, Sijing
dc.date.accessioned	2015-05-11T15:04:35Z
dc.date.available	2015-05-11T15:04:35Z
dc.date.issued	2014
dc.identifier.uri	http://library2.smu.ca/xmlui/handle/01/26119
dc.description	1 online resource (vi, 44 p.) : col. ill.
dc.description	Includes abstract and appendix.
dc.description	Includes bibliographical references (p. 36-37).
dc.description.abstract	After more than 20 years in developing, China stock market has become an essential market in the world. However, it is still not a mature market. There are still problems with IPO issues. The China Securities Regulatory Commission recently changed the IPO regulation in order to improve the IPO pricing. This paper examines the IPO underpricing level of Chinese high-tech firms from over the 10 years. Our study reveals that IPO underpricing is related to the lottery rate and initial turnover rate. The study also confirms that the IPO underpricing level decreases significantly after each reform, which means the IPO regulation reform has produced some positive effect on Chinese market. As a result, the degree of uncertainty surrounding IPO issue decreases with each reform.	en_CA
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dc.description.provenance	Made available in DSpace on 2015-05-11T15:04:35Z (GMT). No. of bitstreams: 1 Han_Sijing_MRP_2014.pdf: 936883 bytes, checksum: 4de9388d54e309eb4590daa5ea2fd574 (MD5) Previous issue date: 2014-09-25	en
dc.language.iso	en	en_CA
dc.publisher	Halifax, N.S. : Saint Mary's University
dc.title	An evaluation of the effect of the IPO regulation reforms in China on IPOs of high-tech firms	en_CA
dc.type	Text	en_CA
thesis.degree.name	Master of Finance
thesis.degree.level	Masters
thesis.degree.discipline	Finance, Information Systems, & Management Science
thesis.degree.grantor	Saint Mary's University (Halifax, N.S.)