A Comparative Study on the IPO Pricing Efficiency between China and Hong Kong Stock Market

DOI

10.2991/jcis.2008.87How to use a DOI?

Keywords

IPO, pricing efficiency, multi-regression analysis

Abstract

This paper carries on a comparative study between China and HK stock market, aiming at finding out the structural discrepancy between the two. The empirical study results as follows: the IPO price in China focuses on the internal factor of firm, little information in the issue factor and market factor. However, the IPO price of HK includes not only the internal factor of firm, but also the information of issue factor and market factor. These show that there still exist a lot of limitations in IPO pricing efficiency for China stock market.

Copyright

© 2008, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xiaosheng Zhang
AU  - Tong Li
PY  - 2008/12
DA  - 2008/12
TI  - A Comparative Study on the IPO Pricing Efficiency between China and Hong Kong Stock Market
BT  - Proceedings of the 11th Joint Conference on Information Sciences (JCIS 2008)
PB  - Atlantis Press
SP  - 515
EP  - 521
SN  - 1951-6851
UR  - https://doi.org/10.2991/jcis.2008.87
DO  - 10.2991/jcis.2008.87
ID  - Zhang2008/12
ER  -