Market discounts and announcement effects of private placements: evidence from China

Deng Lu, Li Si-fei and Wu Wei-xing

Applied Economics Letters, 2011, vol. 18, issue 15, 1411-1414

Abstract: This article examines the market discounts and announcement effects of private equity placements in China. We find that, on average, Chinese firms have about 30% market discounts for private placements, which is higher in number than those of US firms. Firms experience positive announcement effects for private placements and such effects are positively related with the market discounts.

Date: 2011
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DOI: 10.1080/13504851.2010.539531

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