Uncertainty of political subsidy, heterogeneous beliefs, and IPO anomalies
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DOI: 10.1007/s11156-018-0731-8
Abstract: This paper focuses on financial subsidies introduced by the Chinese government to benefit IPO firms. Because of high uncertainty, subsidy information deepens the divergence of opinions regarding IPO firm value among investors, and the IPO… read more here.
Keywords: paper; offer prices; uncertainty political; subsidy ... See more keywords