Does Sector Affect IPO Underpriceing in Hong Kong?
Abstract
IPO underpricing is a scenario which has been studied from lots of different perspectives. I use Hong Kong main board data from 2002 to 2020 to study IPO underpricing phenomenon. Instead of study certain factors or certain sectors, I compare data across different sectors to check sector effect in Hong Kong IPO underpricing. There is sector effect in Hong Kong IPO underpricing. New industries like Communication Service, Health Care and Information Technology, they have more underpricing IPOs. Traditional industries like Financials, Utilities and Real Estate, they have fewer underpricing IPOs.
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DOI: http://dx.doi.org/10.18686/fm.v7i6.7662
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