Abstract In this paper, based on asymmetric information theory, accounting conservatism measurement model, IPO under-pricing measurement model and 2005-2011 Shanghai Stock Exchange and Shenzhen Stock Exchange initial public offering of A shares of 539 listed companies data, the author studies the relationship between accounting conservatism and the initial public offering (IPO) under-pricing, and further explores the impact of information asymmetry on their relationship. The empirical results show that accounting conservatism and IPO under-pricing is negatively correlated; when the degree of information asymmetry is high, the negative correlation between accounting conservatism and IPO under-pricing is more obvious.
2014, Vol. 31 
