Disproportionate ownership structure and IPO long-run performance of non-SOEs in China

• Main Authors: WANG, Xiaoming, CAO, Jerry, TANG, Jinghua, TIAN, Gary Gang
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2005
• Subjects: IPO; Initial Public Offering; Long-run performance; Disproportionate ownership; Non-SOEs firms; China; Asian Studies; Business; Corporate Finance
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/4360; https://ink.library.smu.edu.sg/context/lkcsb_research/article/5359/viewcontent/Disproportionate_ownership_structure_IPO_long_run_performance_av.pdf
• Institution: Singapore Management University

This paper examines the relationship between ownership structures and IPO long-run performance of non-SOEs in China. Although non-SOEs underperform the market in general after IPO but the poor performance is mainly caused by the IPOs with ownership control wedge. Non-SOEs with one share one vote str...