Title :
Notice of Retraction
The research of IPO phenomenon in GEM of China
Author_Institution :
Coll. of Econ., Shanghai Univ., Shanghai, China
Abstract :
Notice of Retraction
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
Based on the reference literature, by selecting some data from the Growth Enterprises Market (GEM) which has been run for more than one year, this paper studies the IPO phenomenon of GEM. According to the conclusions of this paper, there is not severe IPO underpricing phenomenon in Chinese GEM, but there is a serious long-term underperformance of the IPO. The main reason of the situation is the too high issue price and the unreasonalbe pricing mechanism. At the same time, compared to the crazy emotion at the introduction of GEM, after more than one year, the GEM and the investors have been gradually rational.
Keywords :
macroeconomics; pricing; Chinese GEM; Chinese growth enterprises market; IPO underpricing phenomenon; initial public offering; issue price; long-term IPO underperformance; unreasonalbe pricing mechanism; Companies; Finance; Pricing; Radio access networks; Resource management; Stock markets; Sun; GEM; IPO; IPO first-day Initial return; PE; long-term underperformance of IPO;
Conference_Titel :
Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC), 2011 2nd International Conference on
Conference_Location :
Dengleng
Print_ISBN :
978-1-4577-0535-9
DOI :
10.1109/AIMSEC.2011.6009777
