초록
영어
Asian markets provide ideal experimental sample for IPO research. Market development and regulatory changes give academic researchers the chance to gain detail insights on IPO topics. The main objective of this paper is to survey the literature on Asian IPOs. We use Web of Science as a data source to collect related literature. We survey papers using Asian IPO samples to study classical IPO topics and discuss special IPO topics in Asian IPO markets. Finally, we provide suggestions for future research on this subject.
목차
Abstract
Ⅰ. Introduction
1. Using SDC to Look for IPO Sample
2. Use Web of Science to Survey Papers
Ⅱ. Classical IPO Issues
1. Underpricing
2. Long-run Returns
3. Hot Issue Markets
Ⅲ. Reasons Explaining IPO Performance
1. Rent Seeking
2. Reputation: Underwriters and Auditor
3. Media Coverage and Attention
4. Market Share
5. IPOs Backed by Venture Capital and by Private Equity
6. Corporate Governance
7. Earnings Management and Earnings Forecast
8. Underwriting Fee
9. Lock-up Period
10. Text Mining
Ⅳ. Special Features of Asian IPOs
1. Underwriting Design
2. Regulatory Changes
3. Second Markets and Small and Medium Enterprises (SMEs)
4. Cross Listing
5. Listing of Companies with Dual-Class Shares
6. IPOs of State-Owned Enterprises (SOEs)
7. Social Networks
8. Pre-IPO Markets/ When-Issued Markets
9. Specified Purpose Acquisition Companies (SPACs) and Reverse Mergers
10. Anchor Investors
11. Investor Sentiment
12. Bidding Behavior
13. Other Issues
Ⅴ. Future Research and Conclusions
References
Ⅰ. Introduction
1. Using SDC to Look for IPO Sample
2. Use Web of Science to Survey Papers
Ⅱ. Classical IPO Issues
1. Underpricing
2. Long-run Returns
3. Hot Issue Markets
Ⅲ. Reasons Explaining IPO Performance
1. Rent Seeking
2. Reputation: Underwriters and Auditor
3. Media Coverage and Attention
4. Market Share
5. IPOs Backed by Venture Capital and by Private Equity
6. Corporate Governance
7. Earnings Management and Earnings Forecast
8. Underwriting Fee
9. Lock-up Period
10. Text Mining
Ⅳ. Special Features of Asian IPOs
1. Underwriting Design
2. Regulatory Changes
3. Second Markets and Small and Medium Enterprises (SMEs)
4. Cross Listing
5. Listing of Companies with Dual-Class Shares
6. IPOs of State-Owned Enterprises (SOEs)
7. Social Networks
8. Pre-IPO Markets/ When-Issued Markets
9. Specified Purpose Acquisition Companies (SPACs) and Reverse Mergers
10. Anchor Investors
11. Investor Sentiment
12. Bidding Behavior
13. Other Issues
Ⅴ. Future Research and Conclusions
References
저자정보
참고문헌
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