Proceedings of the 11th Joint Conference on Information Sciences (JCIS 2008)

A Comparative Study on the IPO Pricing Efficiency between China and Hong Kong Stock Market

Authors
Xiaosheng Zhang1, Tong Li
1Shenzhen University
Corresponding Author
Xiaosheng Zhang
Available Online December 2008.
DOI
10.2991/jcis.2008.87How to use a DOI?
Keywords
IPO, pricing efficiency, multi-regression analysis
Abstract

This paper carries on a comparative study between China and HK stock market, aiming at finding out the structural discrepancy between the two. The empirical study results as follows: the IPO price in China focuses on the internal factor of firm, little information in the issue factor and market factor. However, the IPO price of HK includes not only the internal factor of firm, but also the information of issue factor and market factor. These show that there still exist a lot of limitations in IPO pricing efficiency for China stock market.

Copyright
© 2008, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 11th Joint Conference on Information Sciences (JCIS 2008)
Series
Advances in Intelligent Systems Research
Publication Date
December 2008
ISBN
978-90-78677-18-5
ISSN
1951-6851
DOI
10.2991/jcis.2008.87How to use a DOI?
Copyright
© 2008, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Xiaosheng Zhang
AU  - Tong Li
PY  - 2008/12
DA  - 2008/12
TI  - A Comparative Study on the IPO Pricing Efficiency between China and Hong Kong Stock Market
BT  - Proceedings of the 11th Joint Conference on Information Sciences (JCIS 2008)
PB  - Atlantis Press
SP  - 515
EP  - 521
SN  - 1951-6851
UR  - https://doi.org/10.2991/jcis.2008.87
DO  - 10.2991/jcis.2008.87
ID  - Zhang2008/12
ER  -