A Study on the Relation of Corporate Governance and Pricing for Initial Public Offerings

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Corporate Governance and Pricing for Initial Public Offerings</title> <meta name="description" content="A Study on the Relation of Corporate Governance and Pricing for Initial Public Offerings"> <meta name="keywords" content="Artificial neural networks, corporate governance, initial public offerings."> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <meta name="citation_title" content="A Study on the Relation of Corporate Governance and Pricing for Initial Public Offerings"> <meta name="citation_author" content="Chei-Chang Chiou"> <meta name="citation_author" content="Sen-Wei Wang"> <meta name="citation_author" content="Yu-Min Wang"> <meta name="citation_publication_date" content="2012/12/22"> <meta name="citation_journal_title" content="International Journal of Economics and Management Engineering"> <meta name="citation_volume" content="6"> <meta name="citation_issue" content="12"> <meta 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href="https://publications.waset.org/search?q=Chei-Chang%20Chiou">Chei-Chang Chiou</a>, <a href="https://publications.waset.org/search?q=Sen-Wei%20Wang"> Sen-Wei Wang</a>, <a href="https://publications.waset.org/search?q=Yu-Min%20Wang"> Yu-Min Wang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The purpose of this study is to investigate the relationship between corporate governance and pricing for initial public offerings (IPOs). Empirical result finds that the prediction of pricing of IPOs with corporate governance added can have a rather higher degree of predicting accuracy than that of non governance added during the training and testing samples. Therefore, it can be observed that corporate governance mechanism can affect the pricing of IPOs <iframe src="https://publications.waset.org/12048.pdf" style="width:100%; height:400px;" frameborder="0"></iframe> <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/search?q=Artificial%20neural%20networks" title="Artificial neural networks">Artificial neural networks</a>, <a href="https://publications.waset.org/search?q=corporate%20governance" title=" corporate governance"> corporate governance</a>, <a href="https://publications.waset.org/search?q=initial%20public%20offerings." title=" initial public offerings."> initial public offerings.</a> </p> <p class="card-text"><strong>Digital Object Identifier (DOI):</strong> <a href="https://doi.org/10.5281/zenodo.1078430" target="_blank">doi.org/10.5281/zenodo.1078430</a> </p> <a href="https://publications.waset.org/12048/a-study-on-the-relation-of-corporate-governance-and-pricing-for-initial-public-offerings" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/12048/apa" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">APA</a> <a href="https://publications.waset.org/12048/bibtex" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">BibTeX</a> <a href="https://publications.waset.org/12048/chicago" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">Chicago</a> <a href="https://publications.waset.org/12048/endnote" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">EndNote</a> <a href="https://publications.waset.org/12048/harvard" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">Harvard</a> <a href="https://publications.waset.org/12048/json" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">JSON</a> <a href="https://publications.waset.org/12048/mla" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">MLA</a> <a href="https://publications.waset.org/12048/ris" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">RIS</a> <a href="https://publications.waset.org/12048/xml" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">XML</a> <a href="https://publications.waset.org/12048/iso690" target="_blank" rel="nofollow" class="btn btn-primary btn-sm">ISO 690</a> <a href="https://publications.waset.org/12048.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">1806</span> </span> <p class="card-text"><strong>References:</strong></p> <br>[1] R. P. Beatty, and J. R. Ritter, "Investment banking, reputation, and the underpricing of initial public offerings," Journal of Financial Economics, vol. 15, pp. 213-232, 1986. <br>[2] T. S. Certo, J. G. Covin, C. M. Daily, and D. R. Dalton, "Wealth and the effects of founder management among IPO-stage new ventures," Strategic Management Journal, Special Issue 22, pp. 641-658, 2001. <br>[3] C. C. Chiou, and Y. T. Huang, "Corporate governance and the underpricing of initial public offerings," Commerce & Management Quarterly, vol.8, pp. 369-391, 2007. <br>[4] I. Filatotchev, and K. Bishop, "Board composition, share ownership, and 脭脟每underpricing- of U.K. IPO firms," Strategic Management Journal, vol. 23, pp. 941-955, 2002. <br>[5] M. Grinblatt, and C. Y. Hwang, "Signaling and the pricing of new issues," Journal of Finance, vol. 44, pp. 393-420, 1989. <br>[6] C. Haefke, and C. Helmenstein, "Forecasting Austrian IPOs: An application of linear and neural network error correction model," Journal of Forecasting, vol. 15, pp. 237-251, 1996. <br>[7] K. Hornik, M. Stinchcombe, and H. White, "Multilayer feedforward networks are universal approximators," Neural Network, vol. 2, pp. 359-366, 1989. <br>[8] B. A. Jain, and B. N. Nag, "Artificial neural network models for pricing initial public offerings," Decision Science, vol. 26, pp. 283-302, 1995. <br>[9] B. A. Jain, and B. N. Nag, "A neural network model to predict long-run operating performance of new ventures," Annals of Operations Research, vol. 78, pp. 83-110, 1998. <br>[10] H. E. Leland, and D. H. Pyle, "Information asymmetries, financial structure and financial intermediation," Journal of Finance, vol. 32, pp. 371-387, 1977. <br>[11] T. H. Lin, "Underpricing and corporate governance evidence from Taiwan securities market," Corporate ownership and control, vol. 4, pp. 69-73, 2006. <br>[12] V. Nanda, and Y. Yun. "Reputation and financial intermediation: An empirical investigate of the impact of IPO mispricing on underwriter market value," Journal of Financial Intermediation, vol. 6, pp. 39-63, 1997. <br>[13] P. Reber, B. Berry, and S. Toms,"Predicting mispricing of initial public offerings," Intelligent System in Accounting, Finance and Management, vol. 13, pp. 41-59, 2005. <br>[14] Roberston, S. J., B. L. Golden, G. C. Runger, and E. A. Wasil. 1998. Neural network models for initial public offerings. Neurocomputing, 18, 165-182. <br>[15] Y. Yoon, G. Swales, and T. M. Margavio, "A comparison of discriminant analysis versus artificial neural networks," Journal of Operational Research Society, vol. 44, pp. 51-60, 1993. </div> </div> </div> </main> <footer> <div id="infolinks" class="pt-3 pb-2"> <div class="container"> <div style="background-color:#f5f5f5;" class="p-3"> <div class="row"> <div class="col-md-2"> <ul class="list-unstyled"> About <li><a href="https://waset.org/page/support">About Us</a></li> <li><a href="https://waset.org/page/support#legal-information">Legal</a></li> <li><a target="_blank" rel="nofollow" href="https://publications.waset.org/static/files/WASET-16th-foundational-anniversary.pdf">WASET celebrates its 16th foundational anniversary</a></li> </ul> </div> <div class="col-md-2"> <ul class="list-unstyled"> Account <li><a href="https://waset.org/profile">My Account</a></li> </ul> </div> <div class="col-md-2"> <ul class="list-unstyled"> Explore <li><a href="https://waset.org/disciplines">Disciplines</a></li> <li><a href="https://waset.org/conferences">Conferences</a></li> <li><a href="https://waset.org/conference-programs">Conference Program</a></li> <li><a href="https://waset.org/committees">Committees</a></li> <li><a href="https://publications.waset.org">Publications</a></li> </ul> </div> <div class="col-md-2"> <ul class="list-unstyled"> Research <li><a href="https://publications.waset.org/abstracts">Abstracts</a></li> <li><a href="https://publications.waset.org">Periodicals</a></li> <li><a href="https://publications.waset.org/archive">Archive</a></li> </ul> </div> <div class="col-md-2"> <ul class="list-unstyled"> Open Science <li><a target="_blank" rel="nofollow" href="https://publications.waset.org/static/files/Open-Science-Philosophy.pdf">Open Science Philosophy</a></li> <li><a target="_blank" rel="nofollow" href="https://publications.waset.org/static/files/Open-Science-Award.pdf">Open Science Award</a></li> <li><a target="_blank" rel="nofollow" href="https://publications.waset.org/static/files/Open-Society-Open-Science-and-Open-Innovation.pdf">Open Innovation</a></li> <li><a target="_blank" rel="nofollow" href="https://publications.waset.org/static/files/Postdoctoral-Fellowship-Award.pdf">Postdoctoral Fellowship Award</a></li> <li><a target="_blank" rel="nofollow" href="https://publications.waset.org/static/files/Scholarly-Research-Review.pdf">Scholarly Research Review</a></li> </ul> </div> <div class="col-md-2"> <ul class="list-unstyled"> Support <li><a href="https://waset.org/page/support">Support</a></li> <li><a href="https://waset.org/profile/messages/create">Contact Us</a></li> <li><a href="https://waset.org/profile/messages/create">Report Abuse</a></li> </ul> </div> </div> </div> </div> </div> <div class="container text-center"> <hr style="margin-top:0;margin-bottom:.3rem;"> <a href="https://creativecommons.org/licenses/by/4.0/" target="_blank" class="text-muted small">Creative Commons Attribution 4.0 International License</a> <div id="copy" class="mt-2">© 2024 World Academy of Science, Engineering and Technology</div> </div> </footer> <a href="javascript:" id="return-to-top"><i class="fas fa-arrow-up"></i></a> <div class="modal" id="modal-template"> <div class="modal-dialog"> <div class="modal-content"> <div class="row m-0 mt-1"> <div class="col-md-12"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> </div> </div> <div class="modal-body"></div> </div> </div> </div> <script src="https://cdn.waset.org/static/plugins/jquery-3.3.1.min.js"></script> <script src="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/js/bootstrap.bundle.min.js"></script> <script src="https://cdn.waset.org/static/js/site.js?v=150220211556"></script> <script> jQuery(document).ready(function() { /*jQuery.get("https://publications.waset.org/xhr/user-menu", function (response) { jQuery('#mainNavMenu').append(response); });*/ jQuery.get({ url: "https://publications.waset.org/xhr/user-menu", cache: false }).then(function(response){ jQuery('#mainNavMenu').append(response); }); }); </script> </body> </html>

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A Study on the Relation of Corporate Governance and Pricing for Initial Public Offerings