Ownership, corporate governance and IPO post-listing liquidity
Data(s) |
2014
|
---|---|
Resumo |
This thesis investigates how ownership structure and corporate governance relate to the post-listing liquidity of IPO firms. Using a sample of 1,049 Chinese IPOs from 2001 to 2010, the results show firms with a broader shareholder base and higher ownership concentration have greater post-listing liquidity. So do firms with higher state ownership and lower institution ownership. Corporate governance is also important; post-listing liquidity is higher for firms with CEO duality, a larger and more independent board, and more frequent board meetings. The 2005 Split Share Structure Reform, which increased the proportion of tradable shares, has a positive impact on liquidity. |
Formato |
application/pdf |
Identificador | |
Publicador |
Queensland University of Technology |
Relação |
http://eprints.qut.edu.au/67427/1/Junheng_Zhu_Thesis.pdf Zhu, Junheng (2014) Ownership, corporate governance and IPO post-listing liquidity. Masters by Research thesis, Queensland University of Technology. |
Fonte |
QUT Business School; School of Economics & Finance |
Palavras-Chave | #IPO #Post-listing liquidity #Ownership concentration #Ownership structure #Corporate governance #Board characteristics #China |
Tipo |
Thesis |