【365体育网投-130期】JAY R. RITTER教授讲座通知

来源:365体育网投发布时间:2018-06-19编辑:屈代洲浏览次数:28

演讲主题:Pre-IPO  Analyst  Coverage: Hype  or  Information  Production?

 人:Jay  R. Ritter     University  of  Florida,Warrington  College  of  Business

时    间:2018年6月22日(星期五)15:30-17:00

地    点:文泉106教室

演讲摘要:Using a sample of China’s IPOs, we find that analyst coverage and earnings forecast optimism for an IPO before it starts trading have a positive impact on its offer price revision and first-day return. Pre-IPO analyst research is also positively associated with IPO long-run returns. Analysts with connections to the underwriter are more likely to cover an IPO and tend to provide more optimistic earnings forecasts. The positive impact of pre-IPO analyst research on IPO pricing remains, however, if connected analysts are excluded. Unlike the U.S. and other markets, offer price revisions are negatively related to initial returns in China.

演讲者简介Jay R. RitterUniversity of Florida讲席教授。在Journal of Finance, Journal of Financial Economics, Review of Financial Studies等顶尖杂志发表论文数十篇。Journal of Financial Economics, JFQA等杂志副主编。