cam a22 2 4500 317109936 CHVBK 20201008213233.0 cr nn|008mamaa 140421s2014 xx -----s---- 0 0-eng-d 978-3-642-55092-8 print 978-3-642-55093-5 eISBN 10.1007/978-3-642-55093-5 doi (OCoLC)880329646 (IDSSG)000655727 Springer ger SzZuIDS HSG kids HG4501-6051 HG1501-HG3550 HG1-9999 BUS004000 bisacsh 657.8333 23 658.152 23 CH00161F5D797EFF04053C1257F0700704671 iCapture Private Placement of Public Equity in China by Pengcheng Song Berlin, Heidelberg Springer Berlin Heidelberg 2014 Online-Ressource Text txt rdacontent/ger Computermedien c rdamedia/ger Online-Ressource cr rdacarrier/ger SpringerBriefs in Finance By retrieving entries from the financial-data vendor Wind and collecting relevant data from private placement statements, the author builds a proprietary database and studies five aspects of private placement in China. He examines which listed firms are more likely to choose private placement over SEO in refinancing; he looks into the controlling shareholder's decision on whether or not to purchase privately placed shares; he investigates how the offer discount is determined; he calculates announcement periods for abnormal returns on private placements. Where the abnormal return is significantly positive, he documents positive long-run abnormal return on private offerings and evidence supporting the under-reaction hypothesis. Finally, he concludes that the largest shareholders tunnel by means of excess discounts from which they benefit but which is harmful to other shareholders. Economics Song Pengcheng https://doi.org/10.1007/978-3-642-55093-5 Volltext für Angehörige der Universität St. Gallen / FHS St. Gallen BK020053 XK020053 XK020000 noalma ids I IDSSG HSG HSG ONL HONL000655727 IDSSG HFHS HFHS ONL HONL000655727 IDSSG 490 0- SpringerBriefs in Finance IDSSG 700 1- Song Pengcheng IDSSG 856 4- https://doi.org/10.1007/978-3-642-55093-5 Volltext für Angehörige der Universität St. Gallen / FHS St. Gallen