Purpose–The purpose of this paper is to examine the market reactions and its determinants of the releasing of restricted non-tradable shares and to provide some useful information for the coming releasing peak of IPO-restricted shares in China. Design/methodology/approach–The paper employs...

Purpose – The purpose of this paper is to examine the market reactions and its determinants of the releasing of restricted non‐tradable shares and to provide some useful information for the coming releasing peak of IPO‐restricted shares in China. Design/methodology/approach – The paper...