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Short-Term Performance of U.S.-Bound Chinese IPOs

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Listed:
  • K. Stephen Haggard
  • Brian R. Walkup
  • Yaoyi Xi

Abstract

Firms from emerging markets, including China, increasingly seek to raise capital outside of their home markets. We examine the short-term performance of U.S.-bound Chinese initial public offerings (IPOs) and find that these IPOs have significantly lower underpricing than a matched sample of U.S. counterparts. We also find that the magnitude of IPO underpricing for U.S.-bound Chinese firms is positively related to revisions in offer price.

Suggested Citation

  • K. Stephen Haggard & Brian R. Walkup & Yaoyi Xi, 2015. "Short-Term Performance of U.S.-Bound Chinese IPOs," The Financial Review, Eastern Finance Association, vol. 50(1), pages 121-141, January.
    • Handle: RePEc:bla:finrev:v:50:y:2015:i:1:p:121-141
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    Cited by:

    1. Essah, Marcellinus & Andrews, Nathan, 2016. "Linking or de-linking sustainable mining practices and corporate social responsibility? Insights from Ghana," Resources Policy, Elsevier, vol. 50(C), pages 75-85.
    2. Abdul WAHID & Muhammad Zubair MUMTAZ & Edmund H. MANTELL, 2020. "Short-Run Pricing Performance of Local and Dual Class IPOs in Alternative Investment Market," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 57-74, March.
    3. Jie Zhang & Lu Zhang, 2016. "Impacts on CO 2 Emission Allowance Prices in China: A Quantile Regression Analysis of the Shanghai Emission Trading Scheme," Sustainability, MDPI, vol. 8(11), pages 1-12, November.
    4. Zefang Zhao & Yanlong Guo & Haiyan Wei & Qiao Ran & Wei Gu, 2017. "Predictions of the Potential Geographical Distribution and Quality of a Gynostemma pentaphyllum Base on the Fuzzy Matter Element Model in China," Sustainability, MDPI, vol. 9(7), pages 1-15, July.
    5. Xiang He & Zhenshan Lin & Kangning Xiong, 2015. "Using a Coupled Human-Natural System to Assess the Vulnerability of the Karst Landform Region in China," Sustainability, MDPI, vol. 7(9), pages 1-16, September.
    6. Wang, Qiang & Li, Rongrong, 2016. "Sino-Venezuelan oil-for-loan deal – the Chinese strategic gamble?#," Renewable and Sustainable Energy Reviews, Elsevier, vol. 64(C), pages 817-822.
    7. Chang, Yuk Ying & Anderson, Hamish & Shi, Song, 2018. "China and international housing price growth," China Economic Review, Elsevier, vol. 50(C), pages 294-312.

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