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books
| book details |
Private Placement of Public Equity in China
By (author) Pengcheng Song
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| on special |
normal price: R 2 192.95
Price: R 2 083.95
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| book description |
By retrieving entries from the financial-data vendor Wind and collecting relevant data from private placement statements, the author builds a proprietary database and studies five aspects of private placement in China. He examines which listed firms are more likely to choose private placement over SEO in refinancing; he looks into the controlling shareholder’s decision on whether or not to purchase privately placed shares; he investigates how the offer discount is determined; he calculates announcement periods for abnormal returns on private placements. Where the abnormal return is significantly positive, he documents positive long-run abnormal return on private offerings and evidence supporting the under-reaction hypothesis. Finally, he concludes that the largest shareholders tunnel by means of excess discounts from which they benefit but which is harmful to other shareholders.
| product details |
Normally shipped |
Publisher | Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Published date | 6 May 2014
Language |
Format | Paperback / softback
Pages | 80
Dimensions | 235 x 155 x 0mm (L x W x H)
Weight | 0g
ISBN | 978-3-6425-5092-8
Readership Age |
BISAC | business & economics / finance
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