A comparison of initial public offering (IPO) underpricing between China A-shares and B-shares markets

Zhang, Tianwei

dc.contributor.advisor	Boabang, Francis
dc.coverage.spatial	China
dc.creator	Zhang, Tianwei
dc.date.accessioned	2013-01-17T16:27:55Z
dc.date.available	2013-01-17T16:27:55Z
dc.date.issued	2012
dc.identifier.uri	http://library2.smu.ca/xmlui/handle/01/24818
dc.description	1 online resource ( [44] leaves) : ill.
dc.description	Includes abstract.
dc.description	Includes bibliographical references (leaves 41-44).
dc.description.abstract	This paper investigates the underpricing level of A-shares and B-shares IPO companies listed in the Chinese stock market from 1991 to 2010. The sample covers 84 IPOs of listed companies with 42 A-shares and 42 B-shares. Our results confirm that Chinese IPO underpricing is the highest among the major world markets. We further examined some of the factors that influence IPO underpricing such as: offering price, issuing size, age of the firm before going public, turnover rate in first trading day and industry type. The results confirm that the offering price and the turnover rate have strong influence on IPO underpricing of A-shares. None of these factors has any significant effect on B-shares.	en_CA
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dc.language.iso	en	en_CA
dc.publisher	Halifax, N.S. : Saint Mary's University
dc.title	A comparison of initial public offering (IPO) underpricing between China A-shares and B-shares markets	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.)