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Can registration system reform mitigate asset mispricing?

Author

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  • Cao, Xinrui
  • Zeng, Xianpeng

Abstract

This study examines the effects of registration system improvements on corporate asset mispricing, utilizing panel data from 2016 to 2023. Our analysis offers substantial empirical evidence that deregulating registration restrictions significantly reduces asset mispricing. The reform accomplishes these governance impacts by augmenting the quality of information disclosure and boosting market price efficiency. These findings underscore the crucial importance of institutional innovation in enhancing capital market transparency and asset pricing, thus providing practical guidance for policymakers, investors, and enterprises during regulation changes.

Suggested Citation

  • Cao, Xinrui & Zeng, Xianpeng, 2025. "Can registration system reform mitigate asset mispricing?," Finance Research Letters, Elsevier, vol. 83(C).
    • Handle: RePEc:eee:finlet:v:83:y:2025:i:c:s1544612325009420
    DOI: 10.1016/j.frl.2025.107683
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    References listed on IDEAS

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