An investigation of the underpricing of initial public offerings in Hong Kong: 1986-1992.

• Other Authors: Hui, Sheung Yin.
• Format: Others
• Language: English
• Published: Chinese University of Hong Kong 1994
• Subjects: Going public (Securities); Going public (Securities) > China > Hong Kong; Stocks > Prices; Stocks > Prices > China > Hong Kong
• Online Access: http://library.cuhk.edu.hk/record=b5888070; http://repository.lib.cuhk.edu.hk/en/item/cuhk-319319

by Hui Sheung Yin, Yim Kam Kin. === Thesis (M.B.A.)--Chinese University of Hong Kong, 1994. === Includes bibliographical references (leaves 69-70). === abstract --- p.ii === table of contents --- p.iii === list of tables --- p.v === acknowledgments --- p.vi === Chapter Chapter I. --- INTRODUCTION --- p.1 === Chapter Chapter II. --- literature review --- p.4 === Ivo Welch (1989) --- p.4 === Rock (1986) --- p.5 === Beatty and Ritter (1984) --- p.6 === "Kim, Krinsky and Lee (1993)" --- p.7 === McGuiness (1990) --- p.8 === Grinblatt and Hwang (1989) --- p.9 === Thomas J. Chemmanur (1993) --- p.10 === Chapter Chapter III. --- RESEARCH METHODOLOGY --- p.11 === Data Description --- p.11 === The Measurement of Underpricing Levels - --- p.14 === The Determination of IPO Underpricing --- p.17 === Explanation 1 for IPO: Uncertainty --- p.19 === Explanation 2 for IPO： Underwriter's Quality --- p.20 === Explanation 3 for IPO： Signaling Effect --- p.22 === Chapter Chapter IV. --- RESULTS AND DISCUSSION --- p.24 === First Day Initial Excess Return --- p.24 === Correlation between Initial Excess Return and determinations --- p.27 === Multivariate Regression Analysis --- p.29 === Chapter Chapter V. --- CONCLUSION --- p.36 === APPENDIXES === Chapter 1. --- Listing Requirements and Methods of Listing (For Equity Securities) --- p.38 === Chapter 2. --- Ranking of Underwriters --- p.41 === Chapter 3 . --- Correlation Matrix for Initial Excess Return and Explanatory Variables --- p.43 === Chapter 4. --- Selected Hong Kong Initial Public Offerings April 86 - December 92 --- p.44 === Chapter 5. --- Percentage Price Change From Offer Price of the end of the First Trading Day --- p.51 === Chapter 6. --- "Daily Excess Return, Periods: First Day to Seventh Day after listing" --- p.55 === Chapter 7. --- "Daily Excess Return, Periods: 8th to 10th, 15th, 20th, 25th and 30th day after listing" --- p.62 === BIBLIOGRAPHY --- p.69