Earnings management, underpricing and post-issue stock performance of SME IPOs in the PRC
MetadataShow full item record
The primary objective of this thesis was to investigate the relationship between earnings management, underpricing, and the post-issue stock performance of PRC SMEs. The analysis was based on a sample of 464 PRC IPOs listed during 2006 to 2010. The higher pre-IPO total discretionary accruals were found to be associated with higher underpricing and poorer post-issue stock performance. The results have important contributions, with implications for various parties, such as investors and authorities.