This paper investigates the determinants of initial public offering (IPO) underwriting market share in China. Using a sample of underwriters in China's IPO market during 2004-2012, we find the following results. First, underwriting quality is overall positively related to underwriting market...

We examine various aspects of the IPO market in China—the policy history, IPO pricing, bids and allocation, and aftermarket trading under two lenses: IPO theories and the unique regulatory environment in China. We show that heavy-handed regulations cause inefficient IPO offer prices and high...

After a long wait, China's "Second Board" market (or ChiNext) for venture businesses was finally established in 2009. The significance of this development is twofold: first, it gives "innovative enterprises and other growing start-ups" the opportunity to raise capital and investors such as...

This paper investigates the correlation between pre-initial public offering (pre-IPO) earnings management and underwriter reputation for issuers with different ownership structures in China. We document a significantly inverse relationship between underwriter reputation and pre-IPO earnings...