Accounting conservatism and IPO underpricing: China evidence

doi:10.1016/j.intaccaudtax.2012.07.003

科研成果详情

发表状态	已发表Published
题名	Accounting conservatism and IPO underpricing: China evidence
作者	Lin, Z. Jun; Tian, Zhimin
发表日期	2012
发表期刊	Journal of International Accounting, Auditing and Taxation
ISSN/eISSN	1061-9518
卷号	21 期号:2 页码:127-144
摘要	This study examines how accounting conservatism impacts underpricing of initial public offerings (IPOs) in the Chinese stock market. In addition, we investigate how information asymmetry affects the association of accounting conservatism with IPO underpricing. Based on regression analysis of 674 A-shares companies that went public through IPOs at both Shanghai and Shenzhen Stock Exchanges in China during 2001-2009, we find that (1) accounting conservatism is negatively associated with the magnitude of IPO underpricing; and (2) the relationship between accounting conservatism and IPO underpricing is more pronounced when information asymmetry is high. The findings should shed a light on what drives IPO underpricing and how it could be affected by accounting conservatism in an emerging economy. © 2012 Elsevier Inc..
关键词	Accounting conservatism Chinese accounting Information asymmetry IPO in China IPO underpricing
DOI	10.1016/j.intaccaudtax.2012.07.003
URL	查看来源
语种	英语English
Scopus入藏号	2-s2.0-84865824100
引用统计	被引频次[WOS]：0 [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	https://repository.uic.edu.cn/handle/39GCC9TT/9498
专题	个人在本单位外知识产出
通讯作者	Lin, Z. Jun
作者单位	Department of Accountancy and Law,Hong Kong Baptist University,Renfrew Road,Kowloon Tong, Kowloon,Hong Kong,China
推荐引用方式 GB/T 7714	Lin, Z. Jun,Tian, Zhimin. Accounting conservatism and IPO underpricing: China evidence[J]. Journal of International Accounting, Auditing and Taxation, 2012, 21(2): 127-144.
APA	Lin, Z. Jun, & Tian, Zhimin. (2012). Accounting conservatism and IPO underpricing: China evidence. Journal of International Accounting, Auditing and Taxation, 21(2), 127-144.
MLA	Lin, Z. Jun,et al."Accounting conservatism and IPO underpricing: China evidence". Journal of International Accounting, Auditing and Taxation 21.2(2012): 127-144.