Political connections and the long-term stock performance of Chinese IPOs

Jianlei Liu, Konari Uchida, Ruidong Gao

研究成果: Contribution to journalArticle査読

30 被引用数 (Scopus)

抄録

We analyse the long-term stock performance of Chinese initial public offerings (IPOs) between the years of 2000 and 2007. The results reveal that firms with political connections experience better long-term stock performance. Our results suggest that the abolition of the Issuance Quota System and Channel Restriction System has a negative influence on the long-term performance of IPOs. This evidence is consistent with the view that local government officials are likely to select politically connected companies to go public.

本文言語英語
ページ(範囲)814-833
ページ数20
ジャーナルJournal of International Financial Markets, Institutions and Money
22
4
DOI
出版ステータス出版済み - 2012

All Science Journal Classification (ASJC) codes

  • 財務
  • 経済学、計量経済学

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