Friends can help: The effects of relationship in the Chinese book-building process

Using detailed bidding information in Chinese IPO book-building process, we find that institutional investors who have a close relationship with the underwriter are more likely to participate in bidding and their bidding prices are higher, compared to other institutional investors. We also find that...

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Bibliographic Details
Main Authors: LUO, Ting, LUO, Wei, YUE, Heng, ZHANG, Lu
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2023
Subjects:
Online Access:https://ink.library.smu.edu.sg/soa_research/2021
https://ink.library.smu.edu.sg/context/soa_research/article/3048/viewcontent/Friends_can_help.pdf
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Institution: Singapore Management University
Language: English