The Impact of Governmental Intervention on the Association Between Initial Public Offering and Future Stock Issuance
Abstract
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...
Paper Details
Title
The Impact of Governmental Intervention on the Association Between Initial Public Offering and Future Stock Issuance
Published Date
Mar 9, 2020
Volume
31
Issue
4
Pages
665 - 687
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