The Effect Of The Reform Of The Segmentation Of Stock

The reform of the segmentation of stocks start from April 29,2005, has great significance to the our country stock market. Along with the propulsion reformed, the"tow part ownership of a share structure"problem which had perplexed our country stock market several years has been solved. Accompany with the arrival of all circulating ages, the reform's Influence to stock market will present gradually.Up to currently, the researches about the reform of the segmentation of stocks'influence basically gave positive evaluation, and most of the researches point out that the segmentation of stocks would be advantageous to a change for our country stock market's twisted list price mechanism. In numerous list prices of the stock market, the initial public offering list prices have a representative most. This essay is to try to pass analysis the influence which the reform of the segmentation of stocks had influenced to the initial public offering list prices, then find out the influence to the stock market's list price mechanism.At analyzing the influence which the reform to the initial public offering list prices, this essay is certain of by passing analyzing the influences which the reform to the factors which maybe influence the initial public offering list prices. Because with the changing of the market structure and the policy environment, the initial public offering list prices'method and concrete procedure can revise continuously, and the factors which can decide the company's inside value are still useful. So it is more meaningfully to analyze the influence of the factors than to look for an accurate list price method. Under this instruction, the researches in this essay try to imitate the various factors which can influence the decision of the initial public offering list prices. And pass contrasting the change of the factors in front and back the reform, this essay tries to find out the influences which the reform to the initial public offering list prices.Pass substantial evidence analysis, we find that the reform makes the initial public offering list prices more the market turn. So we also think that the reform makes the stock market's list price mechanism more the market turn.This essay mainly is divided into several parts as follows:Foreword, introduced the background and the aim of this essay. The second part, introduced the initial public offering list prices'history of our country's stock market, and discussed the high-suppress price of the initial public offering list price before the reform of the segmentation of stocks.The third part, introduced the reform of the segmentation of stocks'history, and discussed its good influence to our country's stock market.The fourth part, introduced the classic property list price method and some local of typical model researches about the initial public offering list price, and from those found out the main exterior factors and main internal factors which would influence the initial public offering list price. Then build up according to the factor analytical model, and analyzed the data reformed in front and back.The fifth part, used the result of the substantial evidence analysis and combined our country's actual circumstance to analyze the influence of the reform to the initial public offering list price, and found out the market turns trend of the list price. Then pointed out only by developing organization investors, raising the investors'investment principle and speeding the blues'IPO can promote the development of the market turn.Conclusion, it summarized the whole essay and pointed out the advantages and disadvantages of the essay.