Short-Term Performance of US-Bound Chinese IPOs
Firms from emerging markets, including China, increasingly seek to raise capital outside of their home markets. We examine the short-term performance of U.S.-bound Chinese initial public offerings (IPOs) and find that these IPOs have significantly lower underpricing than a matched sample of U.S. counterparts. We also find that the magnitude of IPO underpricing for U.S.-bound Chinese firms is positively related to revisions in offer price.
Finance and General Business
Haggard, K. Stephen, Brian R. Walkup, and Yaoyi Xi. "Short-term performance of U.S.-Bound Chinese IPOs" Financial Review 50, no. 1 (2015): 121-141.