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dc.contributor.author Benesh, William Jr
dc.date.accessioned 2011-04-18T15:17:30Z
dc.date.available 2011-04-18T15:17:30Z
dc.date.issued 2011-04-18
dc.identifier.uri http://hdl.handle.net/10161/3550
dc.description Honors Thesis en_US
dc.description.abstract The extreme underpricing of Chinese Initial Public Offerings in the early days of the Chinese equity markets was reduced by several reforms instituted by the Chinese government from around 2000 to 2002. These reforms reduced 1-day returns on IPOs from 295% to 72%. The reforms reduced IPO underpricing by decreasing the inequality between IPO supply and demand. These reforms, while announced between 2000 and 2002, likely took until around 2004 to take full effect. In addition to inequality between supply and demand, other factors such as information asymmetry and government/quality signaling contributed to underpricing both before and after the reforms. en_US
dc.language.iso en_US en_US
dc.subject Initial Public Offerings en_US
dc.subject Underpricing en_US
dc.subject China en_US
dc.subject Regulation en_US
dc.subject Stock Markets en_US
dc.title Taming the Dragon: The Modernization of the Chinese Equity Markets and its Effects on IPO Underpricing en_US
dc.department Economics en_US

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