博彩平台

主题：Do IPOs Affect the Market Price? Evidence from China

时间：2017年4月27日10:00

地点：财科馆三楼小型学术报告厅

报告人：孙谦教授

报告摘要:We examine whether sizable initial public offerings (IPOs) affect the whole market. Using a Chinese IPO sample, we find robust evidence that sizable IPOs do depress the market price on not only the listing day but also the offering (subscription) day. The impact on the market is negatively correlated with the IPO size on the listing day. However, the IPO impact is largely transitory. The China Securities Regulatory Commission (CSRC) often places a moratorium on IPOs to support the market, which seems ineffective as the negative IPO effect is transitory and moratoriums are not perceived as good news.

报告人简介：孙谦，复旦大学特聘教授，博士生导师，复旦大学管理学院财务金融系主任、复旦大学金融研究中心副主任，教育部高等学校金融学专业教学指导委员会副主任。先后获得北京大学经济学学士学位、美国威廉派得森学院工商管理硕士学位以及美国亚里桑那州立大学经济学博士学位，曾任新加坡南洋理工大学终身副教授、厦门大学财务管理与会计研究院院长，在国内外多家学术期刊担任编委或董事职务。孙谦教授是公司财务与国际金融领域的著名学者，在国际顶级学术期刊Journal of Financial Economics、Journal of Banking and Finance、Journal of Corporate Finance、Financial Management、Journal of Business Finance and Accounting上发表论文30余篇，主持过2项国家自然科学基金项目，并担任亚洲金融协会理事（Asian Finance Association Board Member）和亚洲影子金融监管委员会委员（Asian Shadow Financial Regulatory Committee Member）等社会兼职。