{"title":"Who do you take to tango? examining pairing mechanisms between underwriters and ipo firms in a nascent stock market","authors":"Y. Zhang, Jin Chen, Haiyang Li, Jin Jing","doi":"10.1002/sej.1414","DOIUrl":null,"url":null,"abstract":"According to a new study titled \"Who do you take to tango? Examining pairing mechanisms between underwriters and initial public offering firms in a nascent stock market,\" high-reputation underwriters' client-picking behaviors differ in a nascent stock market than in a mature one. Previous research established that in mature markets, high-reputation underwriters are primarily paired with high-quality IPO firms. In a nascent capital market, however, high-reputation underwriters work with IPO firms of varying qualities—good and bad ones, including those who \"cooked\" their accounting books in order to meet public listing standards.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":null,"pages":null},"PeriodicalIF":5.4000,"publicationDate":"2021-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Strategic Entrepreneurship Journal","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1002/sej.1414","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 1
Abstract
According to a new study titled "Who do you take to tango? Examining pairing mechanisms between underwriters and initial public offering firms in a nascent stock market," high-reputation underwriters' client-picking behaviors differ in a nascent stock market than in a mature one. Previous research established that in mature markets, high-reputation underwriters are primarily paired with high-quality IPO firms. In a nascent capital market, however, high-reputation underwriters work with IPO firms of varying qualities—good and bad ones, including those who "cooked" their accounting books in order to meet public listing standards.
期刊介绍：
The Strategic Entrepreneurship Journal is a research journal that publishes original work recommended by a developmental, double-blind review process conducted by peer scholars. Strategic entrepreneurship involves innovation and subsequent changes which add value to society and which change societal life in ways which have significant, sustainable, and durable consequences. The SEJ is international in scope and acknowledges theory- and evidence-based research conducted and/or applied in all regions of the world. It is devoted to content and quality standards based on scientific method, relevant theory, tested or testable propositions, and appropriate data and evidence, all replicable by others, and all representing original contributions. The SEJ values contributions which lead to improved practice of managing organizations as they deal with the entrepreneurial process involving imagination, insight, invention, and innovation and the inevitable changes and transformations that result and benefit society.
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