Performance of IPO of Semiconductor Manufacturing International Corporation
Date Submitted: 09/10/2006 00:10:54
Category: / Society & Culture / Education
Length: 14 pages (3812 words)
Category: / Society & Culture / Education
Length: 14 pages (3812 words)
Corporate Profile of Semiconductor Manufacturing International Corporation
In less than four years, Semiconductor Manufacturing International Corp (SMIC) has become China's largest and the world's fifth-largest chip maker and it embodied the country's high-tech aspirations. Established in 2000, SMIC is headquartered in Shanghai. It has a strong Research and Development Team which is made up of experienced engineers from North America, Europe and Asia, and a network of leading international technology and manufacturing partners. Being an international …
Is this Essay helpful? Join now to read this particular paper
and access over 480,000 just like this GET BETTER GRADES
and access over 480,000 just like this GET BETTER GRADES
…Journal of Economic Perspectives 4, 55-65.
Teoh, S., Welch, I. & Wong, T., "Earnings management and the long-run market performance of initial public offerings", (1998) Journal of Finance 53, 1935-1974.
Welch, I., "Sequential sales, learning, and cascades", (1992) Journal of Finance 47, 695-732.
Yahoo Finance Hong Kong, access from http://hk.finance.yahoo.com
Appendix
The formula for calculating the initial return:
(First-day closing market price - IPO price) x 100%
IPO price
Initial return of SMIC:
(15.52 - 17.00) x 100%
17.00
= -8.7%
Need a custom written paper? Let our professional writers save your time.
Not a member yet?
