China's A-Share IPOs : underpricing, winner's curse and aftermarket price trend.
Date of Issue2006
School of Humanities and Social Sciences
Regarding the aftermarket performance of the sample IPOs, there is a moderate yet salient contrarian price trend in die short run. Over die long term, tiiese IPOs tend to outperform others in the market, while the magnitude of calculated abnormal returns is sensitive to the selection of benchmarks, weighting schemes, and statistical approaches.
Nanyang Technological University