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02563nam a22004215i 4500 |
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978-3-642-55093-5 |
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DE-He213 |
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20151204175437.0 |
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|a 9783642550935
|9 978-3-642-55093-5
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|a 10.1007/978-3-642-55093-5
|2 doi
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|a 332
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|a Song, Pengcheng.
|e author.
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|a Private Placement of Public Equity in China
|h [electronic resource] /
|c by Pengcheng Song.
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|a Berlin, Heidelberg :
|b Springer Berlin Heidelberg :
|b Imprint: Springer,
|c 2014.
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300 |
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|a XVI, 80 p. 3 illus.
|b online resource.
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|a text
|b txt
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|a computer
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|a online resource
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|a text file
|b PDF
|2 rda
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|a SpringerBriefs in Finance,
|x 2193-1720
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|a Introduction -- Literature Review -- Choice of the Issuing Firm and Its Controlling Shareholder -- Determinants of Private Placement Discount -- Announcement Effect -- Long-term Performance of Private Placements in China -- Conclusion: from the Perspective of Interest Parties.
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|a 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.
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|a Finance.
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|a Finance.
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|a Finance, general.
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|a SpringerLink (Online service)
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|t Springer eBooks
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|i Printed edition:
|z 9783642550928
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830 |
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|a SpringerBriefs in Finance,
|x 2193-1720
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856 |
4 |
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|u http://dx.doi.org/10.1007/978-3-642-55093-5
|z Full Text via HEAL-Link
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912 |
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|a ZDB-2-SBE
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|a Business and Economics (Springer-11643)
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