A Comparative Study on the IPO Pricing Efficiency between China and Hong Kong Stock Market
Xiaosheng Zhang1, Tong Li
Available Online December 2008.
- 10.2991/jcis.2008.87How to use a DOI?
- IPO, pricing efficiency, multi-regression analysis
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.
- © 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 -