• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文会议>AMA Winter Academic Conference >Underwriter Efforts,Marketing Effects,and Financial Performance of Chinese IPOs
【24h】

Underwriter Efforts,Marketing Effects,and Financial Performance of Chinese IPOs

机译：承销商努力，营销效果和中国IPO的财务表现

获取原文
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Gao and Ritter(2010)suggest that the marketing of financial securities is a research area that has been largely ignored.So far,only limited research has been devoted to understanding the role of marketing in the underwriting process.IPO underwriters,acknowledged as the most important financial intermediary in the security offering process,have valuable functions in determining the offering price and stimulating investor demand.The underwriter,on behalf of the issuer,is the key agent responsible for providing comprehensive services to ensure the success of the security issuance and offering.According to Papaioannou and Karagozoglu(2017),major underwriting functions include valuation,marketing,distribution,and certification.In our view,these functions are closely related to the concept of the"4Ps"in marketing of product,price,promotion,and place(e.g.,McCarthy,1964;Armstrong and Kotler,2017).Thus,the underwriter's marketing function is of great significance in enhancing the realization of other functions.Specifically,in this paper we aim to explore the following research question: Do underwriters'efforts(reflected in their compensation,the underwriting spread)generate positive marketing effects for the IPO firms leading to larger financial benefits(i.e.less under-pricing)in the short run and better long-term performance?
机译：高雄（2010年）建议，金融证券的营销是一项主要被忽视的研究领域。所以，只有有限的研究才致力于了解营销在承销过程中的作用.IPO承销商，尽可能承认重要的金融中介在安全提供过程中，在确定提供的价格和刺激投资者需求方面具有宝贵的职能。承销商代表发行人是负责提供全面服务的关键代理，以确保安全颁发和提供的成功。根据Papaioannou和Karagozoglu（2017），主要的承保职能包括估值，营销，分发和认证。我们认为，这些功能与产品，价格，推广和促销的营销中的“4PS”的概念密切相关。地点（例如，McCarthy，1964; Armstrong和Kotler，2017）.thus，承销商的营销功能在提高实现方面具有重要意义其他函数。在本文中，我们的目标是探讨以下研究问题：DUSWRITERS'EFFORTS（反映在他们的赔偿中，承销传播）为IPO公司产生积极的营销效果，从而导致更大的经济利益（无感觉欠款）在短期和更好的长期表现中？

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号