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The Study Of Theory Of IPO Under-Pricing And Empirical Test Of Shanghai And Shenzhen IPO Market

Posted on:2005-01-14Degree:MasterType:Thesis
Country:ChinaCandidate:M ZhangFull Text:PDF
GTID:2156360125964396Subject:Business Administration
Abstract/Summary:PDF Full Text Request
China's stock market's history can trace back to early 1990s,since then,China's investors have become more mature in their investment decision and China's stock market has changed gradually in term of the way of operation. Especially in recent years, the investors' interests have got more attention than ever before, and China's stock market has gone through a serious of obvious reforms. This paper focuses on the empirical test of Shanghai and Shenzhen stock market's under-pricing of IPOs and tries to explain the reason of this phenomenon from a new perspective, to be exactly, risk transfer compensation. What is more, this paper also analyzes various stock market forces ' influences on under-price of IPOs, the environment of China's issue market and circulating market, and do empirical test with liner regression mode and influence factors. At last, this paper offers some suggestions for the development of China's IPO market in future.
Keywords/Search Tags:IPOs, IPO market, IPO, Under-Pricing
PDF Full Text Request
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