@article{oai:ncu.repo.nii.ac.jp:00000732,
 author = {Nagano, Mamoru},
 issue = {3-4},
 journal = {オイコノミカ},
 month = {Mar},
 note = {The Chinese stock market has been segmented into those for domestic and foreign investors under its market oriented economic reform process. This paper examines what promotes the former A-share public firms to go initial public offerings in the latter B-share market. Following implications are derived from the empirical analyzes. First, an A-share firm’s profitability positively influences the probability of the IPO in the B-share market, but reverses after additional issuances are made. Second, in addition, an A-share firm’s IPO in the B-share market consequently relaxed the bank borrowing constraint in the post-IPO period. Third, an A-share firm with high growth opportunity is apt to go IPO in the B-share market. Fourth, size of the A-share firm is positively related to both the probability of IPO and the number of capital stock issued in the B-share market.},
 pages = {23--35},
 title = {Segmented Stock Market and the IPO in a Transition Economy : Evidence from Chinese B-Share Firms},
 volume = {45},
 year = {2009}
}