Full-Text Search:
Home|Journal Papers|About CNKI|User Service|FAQ|Contact Us|中文
《On Economic Problems》 2018-01
Add to Favorite Get Latest Update

Stock Issue Pricing and the Decision of Selling Stocks by Shareholders

LI Xiang;ZHANG Yi-xuan;ZHOU Meng-ya;CHEN Hao;Department of Accounting,Nanjing University;Nanjing Radio and Television Group;  
This paper explores the relationship between the stock issue pricing and the shareholders' decision of selling stocks after IPO. The pricing premium of IPO stocks may lead to the shareholders ' decision of selling stocks. There is spillover effect from the behavior of selling stocks by shareholders. The pricing premium is positively correlated with the listing fee which is paid to underwriters. The empirical results imply that the sponsor shareholders may pay more issue fee to gain higher issue pricing premium and reduce the cost of capital by selling stocks after IPO.
【Fund】: 国家自然科学基金项目“法律环境、行政裁量与公司价值”(71272102)的阶段性成果
【CateGory Index】: F832.51
Download(CAJ format) Download(PDF format)
CAJViewer7.0 supports all the CNKI file formats; AdobeReader only supports the PDF format.
©2006 Tsinghua Tongfang Knowledge Network Technology Co., Ltd.(Beijing)(TTKN) All rights reserved