Research On The IPO Underpricing Phenomenon Of China’s Listed Commercial Banks

In view of the international security market, the trading price of the new stock is much higher than the issue price in the first day which is known as IPO underpricing phenomenon. IPO underpricing is the acknowledged problem in the financial and management field. People who is familiar with the stock market knows that the issue price of a new stock will fluctuate violently, the IPO’s initial return ratio is high, and the enthusiasm of investors for the purchase of new shares has never been diminished. Based on the study of IPO underpricing, the research object of this thesis is commercial banks which is the core component of the financial market.In this paper,the idea comes from the existing research results.Therefore,this thesis focus on the results from domestic and foreign which is based on the fully mastered the international mainstream views and the research realities in our country.Gradually refining the viewpoint by looking for the factors which affect commercial bank’s IPO underpricing in our country. In chapter three, I introduced effects of the listed commercial bank’s IPO underpricing and the factors of influencing commercial bank’s IPO underpricing. forecasting the results to IPO underpricing for each factor in order to compare the rsults of the empirical research.Chapter four is the core content of this thesis which deals with the empirical research to listed commercial bank’s IPO underpricing in our country, including sample data collection,model consruction and the analysis of results.Its s lager share of the space.The last chapter give recommendations to commercial bank’s manager and governor on the basis of empirical analysis.This proposal pays attention to optimize the operating structure of bank,enhance the core competitiveness,improve security market, cultivate rational investors, optimize the the structure of investors.