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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/77747

    Title: The Effects of Removing Price Limits: Evidence from Taiwan IPO Stocks
    Authors: Liao, Mei-Hua;Lin, Chien-Chih;Wang, Yinrou
    Contributors: 淡江大學財務金融學系
    Keywords: public offerings;price limit;underpricing
    Date: 2011
    Issue Date: 2012-07-17 20:23:34 (UTC+8)
    Publisher: Armonk: M.E. Sharpe, Inc.
    Abstract: There have been few studies of the price limits for initial public offering (IPO) stocks. In 2005, the Taiwanese authorities introduced a trading rule that removed the price limit for IPO stocks during their first five days. In this paper, we investigate the influences of this trading rule on the aftermarket. It is shown that, after implementation of the trading rule, the level of aftermarket returns in the first two weeks became lower, the price was adjusted speedily, and the trading volume was increased.
    Relation: Emerging Markets Finance & Trade 47(5), pp.40-52
    DOI: 10.2753/REE1540-496X4706S503
    Appears in Collections:[財務金融學系暨研究所] 期刊論文

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