| 上海和深圳证券一级市场比较分析 |
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| 引用本文： | 王军波,邓述慧.上海和深圳证券一级市场比较分析[J].系统工程理论与实践,2000,20(12):11-21. |
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| 作者姓名： | 王军波 邓述慧 |
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| 作者单位： | 中国科学院数学与系统科学研究院系统科学研究所 |
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| 摘 要： | 根据现代证券市场理论 ,利用 OLS方法和 ARIMA模型研究了上海和深圳证券一级市场最近三年的发展及相关证券市场变量对证券一级市场的影响 .发现当前上海和深圳的证券一级市场存在着超额报酬率 ,且上海和深圳的证券一级市场的新股超额报酬率产生的原因有其相同之处 ,但也有不同的原因 .在研究分析的基础上给出我国证券一级市场存在超额报酬率可能的解释及相应的政策建议.
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| 关 键 词： | 证券一级市场 超额报酬率 发行价 |
| 修稿时间： | 1999-04-23 |
Some Analysis about Shanghaiand Shenzhen's IPO Market |
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| WANG Jun-bo,DENG SHU-hui.Some Analysis about Shanghaiand Shenzhen's IPO Market[J].Systems Engineering —Theory & Practice,2000,20(12):11-21. |
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| Authors: | WANG Jun-bo DENG SHU-hui |
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| Institution: | Academy of Mathematics and System Sciences,Chinese Academy of Sciences |
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| Abstract: | Based on the modern securities market theory, this paper analyzes the development of the IPO market of Shanghai and Shenzhen. We do some analysis of the influence of the correlation variables of the securities market on the IPO market's under-pricing by using OLS method and ARIMA model. Based on the analysis, we give some explanatory for the under-pricing of the IPO market and several policy suggestions for this. |
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| Keywords: | IPO market under-pricing issue price |
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