IPO Pricing Mechanisms and Financial Reporting Quality

Research output: Conference Papers (RGC: 31A, 31B, 32, 33)32_Refereed conference paper (no ISBN/ISSN)peer-review

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Detail(s)

Original languageEnglish
Publication statusPublished - 22 Mar 2013

Conference

TitleSpecial Issue Symposium for China Journal of Accounting Research 2013
PlaceChina
Period22 - 23 March 2013

Abstract

We examine how different IPO pricing mechanisms affect the financial reporting quality of IPO firms in a representative weak investor protection country, China. We show that when IPO offering prices are determined by market forces (referred to as the market-based approach) rather than by securities regulators (referred to as the government-based approach), IPO firms’ financial reporting quality is much higher. However, we find no evidence to support the allegation that the market-based approach leads to greater inflation of IPO offering prices than the government-based approach.

Citation Format(s)

IPO Pricing Mechanisms and Financial Reporting Quality. / Chen, Jun; Ke, Bin; Wu, Donghui; YANG, Zhifeng.

2013. Paper presented at Special Issue Symposium for China Journal of Accounting Research 2013, China.

Research output: Conference Papers (RGC: 31A, 31B, 32, 33)32_Refereed conference paper (no ISBN/ISSN)peer-review