| 题名 | Measuring misleading information in IPO prospectuses |
| 作者 | |
| 通讯作者 | Wang，Xinjie |
| 发表日期 | 2021
|
| DOI | |
| 发表期刊 | |
| ISSN | 0924-865X
|
| EISSN | 1573-7179
|
| 摘要 | Newly public firms may provide misleading information about their business plans in their initial public offering (IPO) prospectuses. Using textual analysis, we develop a simple measure of such misleading information based on the difference between the emphasis placed on business lines in the main textual description and the corresponding information from the accounting tables. We examine our measure of misleading information using a sample of 1878 IPOs in China from 2010 to 2019. We find that the degree of misleading information is greater when firms find it more difficult to get regulatory approval for an IPO. Furthermore, the amount of misleading information is greater for firms with higher leverage and more segmented businesses. We also find some evidence that the stock returns of firms which present a greater amount of misleading information are lower. |
| 关键词 | |
| 相关链接 | [Scopus记录] |
| 语种 | 英语
|
| 学校署名 | 第一
; 通讯
|
| Scopus记录号 | 2-s2.0-85102372834
|
| 来源库 | Scopus
|
| 引用统计 |
被引频次[WOS]：4
|
| 成果类型 | 期刊论文 |
| 条目标识符 | http://sustech.caswiz.com/handle/2SGJ60CL/221742 |
| 专题 | 南方科技大学 商学院_金融系 |
| 作者单位 | 1.Southern University of Science and Technology,Shenzhen,China 2.University of Richmond,Richmond,United States |
| 第一作者单位 | 南方科技大学 |
| 通讯作者单位 | 南方科技大学 |
| 第一作者的第一单位 | 南方科技大学 |
| 推荐引用方式 GB/T 7714 |
Ma，Wenbo,Wang，Xinjie,Wang，Yuan,et al. Measuring misleading information in IPO prospectuses[J]. Review of Quantitative Finance and Accounting,2021.
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| APA |
Ma，Wenbo,Wang，Xinjie,Wang，Yuan,&Wu，Ge.(2021).Measuring misleading information in IPO prospectuses.Review of Quantitative Finance and Accounting.
|
| MLA |
Ma，Wenbo,et al."Measuring misleading information in IPO prospectuses".Review of Quantitative Finance and Accounting (2021).
|
| 条目包含的文件 | 条目无相关文件。 | |||||
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