#2162. ChiNext IPOs initial returns before and after the 20XX stock market reform: What can we learn?

August 2026publication date
Proposal available till 07-06-2025
4 total number of authors per manuscript6510 $

The title of the journal is available only for the authors who have already paid for
Journal’s subject area:
Economics and Econometrics;
Business and International Management;
Places in the authors’ list:
place 1place 2place 3place 4
FreeFreeFreeFree
2650 $1470 $1290 $1100 $
Contract №2162.1 Contract №2162.2 Contract №2162.3 Contract №2162.4
1 place - free (for sale)
2 place - free (for sale)
3 place - free (for sale)
4 place - free (for sale)

Abstract:
We examine ChiNext IPOs performance before and after the 20XX stock market reform. Majority of firm-level characteristics differ significantly over the two sub-periods. The initial return looks normal before the reform. It exhibits a uniform distribution truncated at the maximum 44% initial cap imposed by the reform thereafter and the cumulative return, based on listing day closing price keeps rising at a steady pace over the 1st month. The 20XX reform pushes the ChiNext IPO market off its track of becoming more efficient. Instead, it widens income gap in China. Our findings and recommendations support the 20XX new regulatory changes.
Keywords:
IPOs initial returns, cumulative returns and return volatility; Market efficiency versus even income distribution; Stock market reform

Contacts :
0