Goergen, Marc; Mazouz, Khelifa; Yin, Shuxing - In: Pacific-Basin Finance Journal 18 (2010) 5, pp. 442-459
We examine the price, volume and bid-ask spread reactions to lock-in expiries in Hong Kong IPOs. We show that the lock-in expiry causes an increase in both trading volume and bid-ask spread, but no significant change in the share price. We attribute the absence of a price reaction to the fact...