| 我国A股市场IPO定价合理性与抑价研究 |
| |
| 引用本文： | 肖尧,魏平.我国A股市场IPO定价合理性与抑价研究[J].阜阳师范学院学报(自然科学版),2013,30(1):63-68. |
| |
| 作者姓名： | 肖尧 魏平 |
| |
| 作者单位： | 1. 中国人民大学经济学院,北京,100872
2. 中国人民大学财政金融学院,北京,100872 |
| |
| 基金项目： | 中国人民大学科学研究基金中央高校基本科研业务费专项资金 |
| |
| 摘 要： | 我国股票市场上的IPO超高抑价现象一直是一个热点问题,文章利用主成分分析的方法研究了我国A股市场IPO定价的合理性,结果表明相较于市场价格,IPO发行价格更能反映公司的内在价值。在此基础上,进一步分析并证明了二级市场上的过度投机是造成我国A股市场IPO抑价程度过高的主要原因。
|
| 关 键 词： | IPO抑价 定价合理性 过度投机 |
Rationality of IPO pricing and IPO underpricing in the A-share market |
| |
| XIAO Yao
,
WEI Ping.Rationality of IPO pricing and IPO underpricing in the A-share market[J].Journal of Fuyang Teachers College:Natural Science,2013,30(1):63-68. |
| |
| Authors: | XIAO Yao WEI Ping |
| |
| Institution: | ( a. School of Economics, b. School of Finarice, Renmin University of China, Beijing 100872, China) |
| |
| Abstract: | The phenomenon of IPO underprieing in China＇ s stock market has been a hot issue for a long time. In this paper, tile rationality of IPO pricing is firstly analyzed by principal component analysis, and the result shows that the IPO price in the Ashare market better reflects the intrinsic value of the corporate compared with the market price. Additionally, it is proved that the excessive speculation in the secondary market is the main reason for the high degree of IPO underpricing in the A-share market. |
| |
| Keywords: | IPO underpricing rationality of IPO pricing excessive speculation |
| 本文献已被 维普 万方数据 等数据库收录！ |
|
