Private Placement of Public Equity in China (SpringerBriefs in

Private Placement of Public Equity in China (SpringerBriefs in Finance)

By retrieving entries from the financial-data vendor Wind and collecting relevant data from private placement statements, the author builds a proprietary database and studies five aspects of private placement in China. He examines which listed firms are more likely to choose private placement over SEO in refinancing; he looks into the controlling shareholderâ€™s decision on whether or not to purchase privately placed shares; he investigates how the offer discount is determined; he calculates announcement periods for abnormal returns on private placements. Where the abnormal return is significantly positive, he documents positive long-run abnormal return on private offerings and evidence supporting the under-reaction hypothesis. Finally, he concludes that the largest shareholders tunnel by means of excess discounts from which they benefit but which is harmful to other shareholders.
Country USA
Brand Springer
Manufacturer Springer
Binding Paperback
ItemPartNumber 3 black & white illustrations, 23 black
ReleaseDate 2014-04-22
UnitCount 1
EANs 9783642550928

Country	USA
Brand	Springer
Manufacturer	Springer
Binding	Paperback
ItemPartNumber	3 black & white illustrations, 23 black
ReleaseDate	2014-04-22
UnitCount	1
EANs	9783642550928

Private Placement of Public Equity in China (SpringerBriefs in Finance)