| 异质预期、IPO最优报价与抑价 |
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| 引用本文： | 胡一朗.异质预期、IPO最优报价与抑价[J].科学技术与工程,2010,10(33). |
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| 作者姓名： | 胡一朗 |
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| 作者单位： | 莆田学院管理学院,福建,莆田,351100 |
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| 基金项目： | 福建省教育厅社会科学研究项目(JBS07104)资助 |
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| 摘 要： | 针对IPO抑价问题,运用行为金融理论和数理分析方法,从询价对象期望效用最大化的角度出发,假设存在对新股价值异质预期的两类询价对象,在风险规避的条件下,求解出最优均衡报价的解析表达式。在此基础上,进一步分析IPO抑价问题。
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| 关 键 词： | 异质预期 均衡报价 IPO抑价 |
| 收稿时间： | 2010/9/16 0:00:00 |
| 修稿时间： | 9/28/2010 7:45:21 AM |
Heterogeneous Expectation , IPO Optimal Auction and Underpricing |
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| HU Yi-Lang.Heterogeneous Expectation , IPO Optimal Auction and Underpricing[J].Science Technology and Engineering,2010,10(33). |
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| Authors: | HU Yi-Lang |
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| Institution: | HU Yi-lang(School of Management,Putian University,Putian 351100,P.R.China) |
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| Abstract: | In view of the IPO underpricing and the maximal expected-utility value,the behavioral finance theory and mathematical analysis are used to work out the analytical expression of the optimal equilibrium auction.Supposing the two kind risk averter of inquiry objects is heterogeneous expectations for new share value.The problem of the IPO underpricing is analysed on this basis furtherly. |
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| Keywords: | heterogeneous expectation equilibrium auction IPO underpricing |
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