underpricing at SIP-time. We find that poor perfirmance and financing constraints, reflected by a low profitability and high … relinquish its majority stake at SIP-time. The detfirminants of underpricing further illustrate the uniqueness of SIPs compared … decision, we find that the fraction of ownership divested is significantly positively related to underpricing. …

sense of Perotti (1995), trying to build up reputation for its privatization policy over time by underpricing and selling a …This study compares the characteristics and the price behavior of case-by-case privatization initial public offerings …, private sector initial public offerings and the mass privatization program in Poland over the first eight years after the …

Chinese data enable investigation of the relationship between underpricing of initial public offerings (IPOs) and legal … 2009 shows that firms from a province with more developed legal framework experience less underpricing after controlling … for time-invariant, province-fixed effects. We also find that the extent of underpricing is decreased by the strength of …

underpricing in China, we examine the impact of local political uncertainty (measured by prefecture-level city official turnover … rate) on IPO underpricing. Design/methodology/approach - Using 2,259 IPOs of A-share listed companies from 2001 to 2019, we …) through which political uncertainty affects IPO underpricing. We check the robustness of the results using bootstrap tests …

-discriminatory auctions to bookbuilding. We find that bookbuilding leads to significantly higher underpricing than hybrid price …

family involvement and political connection affect firms' IPO underpricing. Especially, we investigate how underpricing … offering pricing, that is lower IPO underpricing rate; but companies with ordinary political connection don't enjoy this …), political connection doesn't affect underpricing, but family involvement helps firm achieving lower underpricing. In regions …

This paper examines the impact of economic policy uncertainty on initial public offering (IPO) underpricing, using a … large sample of IPO firms in China. We find that heightened economic policy uncertainty leads to increasing IPO underpricing … relationship between economic policy uncertainty and IPO underpricing is stronger for small firms, firms with less analyst …

investigates the role of hybrid debt in the privatization of state‑owned enterprises (SOEs) via government‑controlled investment … in Europe and Asia. Moreover, in some cases, the privatization of SOEs by means of exchangeables can prove to be a more … shareholders. Third, the entire privatization process tends to be more flexible for issuers in that they can perceive exchangeables …