메뉴 건너뛰기




Volumn 29, Issue 7, 2005, Pages 1835-1856

Ownership and operating performance of Chinese IPOs

Author keywords

Concentration of ownership; Initial public offerings; Operating performance; Ownership

Indexed keywords


EID: 32244447355     PISSN: 03784266     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbankfin.2004.07.003     Document Type: Article
Times cited : (155)

References (35)
  • 4
    • 0344093790 scopus 로고    scopus 로고
    • Underpricing and long-term performance of IPOs in China
    • Chan K., Wang J., and Wong K.C. Underpricing and long-term performance of IPOs in China. Journal of Corporate Finance 183 (2003) 1-22
    • (2003) Journal of Corporate Finance , vol.183 , pp. 1-22
    • Chan, K.1    Wang, J.2    Wong, K.C.3
  • 5
    • 44649167139 scopus 로고    scopus 로고
    • Chen, C., Shih, H., 2003. Initial public offering and corporate governance in China's transitional economy. NBER Working Paper
    • Chen, C., Shih, H., 2003. Initial public offering and corporate governance in China's transitional economy. NBER Working Paper
  • 6
    • 3943061673 scopus 로고    scopus 로고
    • Earnings management of Chinese listed companies
    • (in Chinese)
    • Chen X., Xing X., and Guo X. Earnings management of Chinese listed companies. Economic Research Journal 3 (2000) 30-36 (in Chinese)
    • (2000) Economic Research Journal , vol.3 , pp. 30-36
    • Chen, X.1    Xing, X.2    Guo, X.3
  • 7
    • 0000200532 scopus 로고    scopus 로고
    • Disentangling the incentive and entrenchment effects of large shareholdings
    • Claessens S., Djankov S., Fan P.H., and Lang L. Disentangling the incentive and entrenchment effects of large shareholdings. Journal of Finance 56 (2002) 2741-2772
    • (2002) Journal of Finance , vol.56 , pp. 2741-2772
    • Claessens, S.1    Djankov, S.2    Fan, P.H.3    Lang, L.4
  • 8
    • 0034339147 scopus 로고    scopus 로고
    • Privatization in emerging economies: An agency theory prospective
    • Dharwadkar R., George G., and Brandes P. Privatization in emerging economies: An agency theory prospective. Academy of Management Review 25 (2000) 650-669
    • (2000) Academy of Management Review , vol.25 , pp. 650-669
    • Dharwadkar, R.1    George, G.2    Brandes, P.3
  • 10
    • 84977725468 scopus 로고
    • Signaling and pricing of new issues
    • Grinblatt M., and Hwang C.Y. Signaling and pricing of new issues. Journal of Finance 44 (1989) 393-420
    • (1989) Journal of Finance , vol.44 , pp. 393-420
    • Grinblatt, M.1    Hwang, C.Y.2
  • 11
    • 84993850751 scopus 로고
    • The post-issue operating performance of IPO firms
    • Jain B.A., and Kini O. The post-issue operating performance of IPO firms. Journal of Finance 49 (1994) 1699-1726
    • (1994) Journal of Finance , vol.49 , pp. 1699-1726
    • Jain, B.A.1    Kini, O.2
  • 12
    • 44649197264 scopus 로고
    • The theory of the firm: Managerial behavior, agency costs, and ownership structure
    • Jensen M., and Meckling W. The theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics 3 (1976) 305-360
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.1    Meckling, W.2
  • 13
    • 1642364404 scopus 로고    scopus 로고
    • Ownership and operating performance in an emerging market: Evidence from Thai IPO firms
    • Kim K., Kitsabunnarat P., and Nofsinger J.R. Ownership and operating performance in an emerging market: Evidence from Thai IPO firms. Journal of Corporate Finance 10 (2004) 355-381
    • (2004) Journal of Corporate Finance , vol.10 , pp. 355-381
    • Kim, K.1    Kitsabunnarat, P.2    Nofsinger, J.R.3
  • 16
    • 44649090792 scopus 로고    scopus 로고
    • Liu, Q., Lu, Z., 2003. Earnings management to tunnel: Evidence from China's listed companies. University of Hong Kong Working Paper
    • Liu, Q., Lu, Z., 2003. Earnings management to tunnel: Evidence from China's listed companies. University of Hong Kong Working Paper
  • 17
    • 0002484986 scopus 로고
    • Stock market prices do not follow random walk: Evidence from a simple specification test
    • Lo A., and MacKinlay C. Stock market prices do not follow random walk: Evidence from a simple specification test. Review of Financial Studies 1 (1988) 41-46
    • (1988) Review of Financial Studies , vol.1 , pp. 41-46
    • Lo, A.1    MacKinlay, C.2
  • 18
    • 0001759920 scopus 로고    scopus 로고
    • From state to market: A survey of empirical studies on privatization
    • Megginson W.L., and Netter J.M. From state to market: A survey of empirical studies on privatization. Journal of Economic Literature 34 (2001) 321-389
    • (2001) Journal of Economic Literature , vol.34 , pp. 321-389
    • Megginson, W.L.1    Netter, J.M.2
  • 19
    • 0031161492 scopus 로고    scopus 로고
    • Ownership and operating performance of companies that go public
    • Mikkelson W., Partch M., and Shah K. Ownership and operating performance of companies that go public. Journal of Financial Economics 44 (1997) 281-307
    • (1997) Journal of Financial Economics , vol.44 , pp. 281-307
    • Mikkelson, W.1    Partch, M.2    Shah, K.3
  • 20
    • 0011088442 scopus 로고
    • Additional evidence on equity ownership and corporate value
    • McConnel J.J., and Servaes H. Additional evidence on equity ownership and corporate value. Journal of Financial Economics 27 (1990) 595-612
    • (1990) Journal of Financial Economics , vol.27 , pp. 595-612
    • McConnel, J.J.1    Servaes, H.2
  • 21
    • 33645896609 scopus 로고
    • Management ownership and market valuation: An empirical Analysis
    • Morck R., Shleifer A., and Vishny R. Management ownership and market valuation: An empirical Analysis. Journal of Financial Economics 20 (1988) 293-315
    • (1988) Journal of Financial Economics , vol.20 , pp. 293-315
    • Morck, R.1    Shleifer, A.2    Vishny, R.3
  • 22
    • 84993839747 scopus 로고
    • What do we know about capital structure? Some evidence from international data
    • Rajan R.G., and Zingales L. What do we know about capital structure? Some evidence from international data. Journal of Finance 50 (1995) 1421-1460
    • (1995) Journal of Finance , vol.50 , pp. 1421-1460
    • Rajan, R.G.1    Zingales, L.2
  • 25
    • 0001026456 scopus 로고    scopus 로고
    • A survey of corporate governance
    • Shleifer A., and Vishny R. A survey of corporate governance. Journal of Finance 52 (1997) 737-783
    • (1997) Journal of Finance , vol.52 , pp. 737-783
    • Shleifer, A.1    Vishny, R.2
  • 26
    • 0002249537 scopus 로고    scopus 로고
    • Managerial ownership and the performance of firms: Evidence from the UK
    • Short H., and Keasey K. Managerial ownership and the performance of firms: Evidence from the UK. Journal of Corporate Finance 5 (1999) 79-101
    • (1999) Journal of Corporate Finance , vol.5 , pp. 79-101
    • Short, H.1    Keasey, K.2
  • 27
    • 0000396092 scopus 로고    scopus 로고
    • An empirical investigation of underpricing in Chinese IPOs
    • Su D., and Fleisher B.M. An empirical investigation of underpricing in Chinese IPOs. Pacific Basin Finance Journal 7 (1999) 173-202
    • (1999) Pacific Basin Finance Journal , vol.7 , pp. 173-202
    • Su, D.1    Fleisher, B.M.2
  • 28
    • 0142056036 scopus 로고    scopus 로고
    • China share issue privatization: The extent of its success
    • Sun Q., Tong W., and Tong J. China share issue privatization: The extent of its success. Journal of Financial Economics 70 (2003) 183-222
    • (2003) Journal of Financial Economics , vol.70 , pp. 183-222
    • Sun, Q.1    Tong, W.2    Tong, J.3
  • 29
    • 0000251280 scopus 로고    scopus 로고
    • Ownership structure and economic performance in the largest European countries
    • Thomsen S., and Pedersen T. Ownership structure and economic performance in the largest European countries. Strategic Management Journal 21 (2000) 689-705
    • (2000) Strategic Management Journal , vol.21 , pp. 689-705
    • Thomsen, S.1    Pedersen, T.2
  • 30
    • 44649136891 scopus 로고    scopus 로고
    • Tian, L., 2001. Government shareholding and the value of Chinese modern firms. William Davidson Working Paper 395
    • Tian, L., 2001. Government shareholding and the value of Chinese modern firms. William Davidson Working Paper 395
  • 31
    • 1342307338 scopus 로고    scopus 로고
    • Relative strength strategies in China's stock market: 1994-2000
    • Wang C. Relative strength strategies in China's stock market: 1994-2000. Pacific Basin Finance Journal 12 (2004) 159-177
    • (2004) Pacific Basin Finance Journal , vol.12 , pp. 159-177
    • Wang, C.1
  • 32
    • 0001104190 scopus 로고    scopus 로고
    • On the cost of a bank-centered financial system
    • Weinstein D., and Yafeh Y. On the cost of a bank-centered financial system. Journal of Finance 53 (1998) 635-672
    • (1998) Journal of Finance , vol.53 , pp. 635-672
    • Weinstein, D.1    Yafeh, Y.2
  • 33
    • 0001139435 scopus 로고
    • Tobin's Q and the importance of focus in firm performance
    • Wernerfelt B., and Montgomery C.A. Tobin's Q and the importance of focus in firm performance. American Economic Review 78 (1988) 246-250
    • (1988) American Economic Review , vol.78 , pp. 246-250
    • Wernerfelt, B.1    Montgomery, C.A.2
  • 34
    • 0000095552 scopus 로고
    • A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity
    • White H. A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity. Econometrica 48 (1980) 817-838
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1
  • 35
    • 44649104630 scopus 로고    scopus 로고
    • Xu, X., Wang, Y., 1997. Ownership structure, corporate governance, and corporate performance: The case of Chinese stock companies. The World Bank Working Paper
    • Xu, X., Wang, Y., 1997. Ownership structure, corporate governance, and corporate performance: The case of Chinese stock companies. The World Bank Working Paper


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.