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The Effect of China Accounting Standards on the Price of Initial Public Offerings
Yang, Tzu Ting
Chin, Chen Lung
Yang, Tzu Ting
China Accounting Standards
|Issue Date: ||2016-05-02 13:37:41 (UTC+8)|
In 2007, China passed the IFRS-based Chinese Accounting Standards (therefore IFRS-based CAS) to converge with IFRS. This paper examines the effect of implementation of IFRS-based CAS on IPO uncerpricing. In addition, there are different institutional features of transition economy from other countries. This paper also examines the effect of the interaction between implementation of IFRS-based CAS and institutional features of transition economy on IPO uncerpricing. The empirical results show that post-2005 IPOs in China are significantly less underpriced, and IPO honeymoon periods have similar outcomes. Furthermore, the results also show that the magnitude of underpricing will be decreased in those provinces with higher degrees of marketization.
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|Source URI: ||http://thesis.lib.nccu.edu.tw/record/#G0993530221|
|Data Type: ||thesis|
|Appears in Collections:||[會計學系] 學位論文|
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