统计研究 ›› 2001, Vol. 18 ›› Issue (4): 29-35.

• 论文 • 上一篇    下一篇

中国IPO定价偏低的实证研究

韩德宗, 陈静   

  • 出版日期:2001-04-15 发布日期:2012-02-14

Empirical study on the underpricing of IPO in China

HAN De-Zong, CHEN Jing   

  • Online:2001-04-15 Published:2012-02-14

Abstract: Thus paper studies the price behavior of IPO In China and analyses their causes by multivariable regression models. This paper finds that underpricing of IPO in China is the most serious in the world; there is “hot issue” market;underpricing of IPO has positive correlation with the market condition and market value, and negative correlation with the amount of raising fund, and no obvious correlation wit the price-earning ratio in China. This paper draws the conclusion that a marketable IPO system should be set up in China as soon as possible.