Jump to ContentJump to Main Navigation
Governance, Regulation, and Privatization in the Asia-Pacific Region$
Users without a subscription are not able to see the full content.

Takatoshi Ito and Anne O. Krueger

Print publication date: 2004

Print ISBN-13: 9780226386799

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226386966.001.0001

Show Summary Details
Page of

PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 27 June 2022

Initial Public Offering and Corporate Governance in China's Transitional Economy

Initial Public Offering and Corporate Governance in China's Transitional Economy

Chapter:
(p.185) 7 Initial Public Offering and Corporate Governance in China's Transitional Economy
Source:
Governance, Regulation, and Privatization in the Asia-Pacific Region
Author(s):

Chen Chien-Hsun

Shih Hui-Tzu

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226386966.003.0008

This chapter empirically examines the performance of Chinese initial public offerings (IPOs). The sample consists of 437 companies listed on the Shanghai Stock Exchange, and 447 companies listed on the Shenzhen exchange (for a longer time period) from 1995 to 1999. The chapter is organized as follows. Section 7.2 discusses the equity structure and corporate governance mechanism. Section 7.3 establishes financial indicators to evaluate the operational performance of listed companies. Section 7.4 reports the empirical results of the IPOs' performance, and Section 7.5 provides concluding remarks. The results show that in terms of growth, profitability, and stability, the only industries in China in which listed companies display strong performance are the public utilities, transportation, and finance. The overall operational performance of all other industries is poor, especially in terms of growth. Two commentaries are also included at the end of the chapter.

Keywords:   Chinese firms, IPO, going public, corporate governance, listed companies

Chicago Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.