The Relationship Between Corporate Governance and Underpricing: A Case Study in Ho Chi Minh Stock Exchange
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F21%3A63529618" target="_blank" >RIV/70883521:28120/21:63529618 - isvavai.cz</a>
Result on the web
<a href="http://koreascience.or.kr/article/JAKO202118057781268.page" target="_blank" >http://koreascience.or.kr/article/JAKO202118057781268.page</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.13106/jafeb.2021.vol8.no7.0375" target="_blank" >10.13106/jafeb.2021.vol8.no7.0375</a>
Alternative languages
Result language
angličtina
Original language name
The Relationship Between Corporate Governance and Underpricing: A Case Study in Ho Chi Minh Stock Exchange
Original language description
Underpricing signifies that IPO share prices do not reflect the fundamental value of the listed company. Corporate governance plays an essential role in IPOs where the board of directors, the independent board of directors, and the board of supervisors are significant elements of accurate share pricing. The study investigates the underpricing phenomena and short-term performance of the IPO companies during the listing process in the Ho Chi Minh Stock Exchange (HOSE). The work outcomes illustrate the role of the corporate organizational structure in the period of the IPO process that may attract potential investors. The hypothesis testing is conducted with a multiple regression model including 100 observations from enterprises doing IPO listed on HOSE. The study results generate signals for the investors and regulators that the board of directors holds a strong negative influence on the underpricing process. Secondly, the level of the independent board of directors and stock exchange in itself has no significant impact on the underpricing process. Underpricing is one of the many anomalies of the stock exchanges that provide wrong signals for the market participants. Identifying stock prices that reflect their intrinsic value is an ongoing debate among scholars, investors, and other market participants
Czech name
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Czech description
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Classification
Type
J<sub>ost</sub> - Miscellaneous article in a specialist periodical
CEP classification
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OECD FORD branch
50204 - Business and management
Result continuities
Project
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Continuities
V - Vyzkumna aktivita podporovana z jinych verejnych zdroju
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Journal of Asian Finance, Economics and Business
ISSN
2288-4637
e-ISSN
2288-4645
Volume of the periodical
8
Issue of the periodical within the volume
7
Country of publishing house
KR - KOREA, REPUBLIC OF
Number of pages
7
Pages from-to
375-381
UT code for WoS article
000670055700038
EID of the result in the Scopus database
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