Diversity of Institutional Investors’ Bidding Opinions in Shaping the Sustainability of IPO Performance
Anqi Li,
Xue Li,
Jiayan Liu
et al.
Abstract:In this study, we leverage a comprehensive dataset of over 3.8 million bid entries from institutional investors participating in China’s capital market to investigate the determinants of heterogeneous bidding behavior among these investors and the subsequent economic outcomes. We evaluate the sustainability of initial public offering (IPO) performance through three interrelated metrics: post-IPO stock price performance, financial accounting performance, and environmental, social, and governance (ESG) performan… Show more
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