Does IFRS reduce IPO underpricing? evidence from China

Yu Ling Tsai, Hua Wei Huang

Research output: Contribution to journalArticlepeer-review

Abstract

In this study, we examine whether the adoption of convergent-IFRS in China reduces IPO underpricing, which is of interest to investors and regulators. Using panel data from 2,666 non-financial IPOs of A-shares listed on the Shanghai and Shenzhen Stock Exchanges between 1996 and 2019, the study shows that the adoption of convergent-IFRS mitigates the phenomenon of IPO underpricing in China and this transition benefit is not moderated by the proportion of SOEs. We fill the gap in the literature with a contribution to global evidence on the adoption of IFRS standards.

Original languageEnglish
Article number101673
JournalFinance Research Letters
DOIs
Publication statusAccepted/In press - 2020

All Science Journal Classification (ASJC) codes

  • Finance

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