首页|Intrinsic Value and Market Timing of Initial Public Offerings
Intrinsic Value and Market Timing of Initial Public Offerings
扫码查看
点击上方二维码区域，可以放大扫码查看
原文链接
国家科技期刊平台
NETL
NSTL
万方数据
To avoid debates on the interpretation problem of market-to-book, the residual income model is employed to calculate the intrinsic value and estimate the extent of mis-pricing by market. Using a sample of Chinese listed companies from 1998 to 2003, the empirical evidence supports that equity market mis-pricing plays a significant role in decision making on the initial public offering. Our evidence verifies that the market timing theory can be applied to the analysis of financing behavior of Chinese listed companies, but the long-lasting effect is insignificant.
Capital structureMarket timingDecision makingListed company
WU Shui-ting、CHEN Jia-hong、HUANG Wei-jing、XU Yang
展开 >
School of Economics and Management, Southwest Jiaotong University, Chengdu 610031, China
Intelligent Control Development Center, Southwest Jiaotong University, Chengdu 610031, China
College of Humanities and Social Science, Southwest Jiaotong University, Chengdu 610031, China
Sichuan Top Vocational Institute of Information Technology, Chengdu 611743, China
展开 >
Specialized Research Fund for the Doctoral Program of Higher Education of China
国家科技期刊平台
NSTL
万方数据
