• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文会议>International Conference on Service Systems and Service Management >Empirical study on effect of IPO secondary offerings on IPO underpricing
【24h】

Empirical study on effect of IPO secondary offerings on IPO underpricing

机译：IPO二次发行对IPO抑价影响的实证研究

获取原文
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

IPO secondary offerings have been widely concerned by people. The purpose of this paper is to study the effect of IPO secondary offerings on IPO underpricing in China's capital market. The data about IPO secondary offerings and IPO underpricing in the Shanghai and Shenzhen A stock market listed companies from December 2013 to April 2016 are used for empirical analysis. The study finds that the IPO secondary offerings has a significant effect on the IPO underpricing, and with the increase in the proportion of IPO secondary offerings, IPO underpricing tends to decline. Further analysis and tests show that in the good market, the inhibitory effect of IPO secondary offerings on IPO underpricing will be weakened, but it makes no difference in the SME board. On the main board market IPO secondary offerings has no significant influence on IPO underpricing. On the GEM and SME board market IPO secondary offerings has significant influence on IPO underpricing and the two are negatively correlated. The results further verify the role of IPO secondary offerings on IPO underpricing, and provide some inspirations for the improvement of China's capital market.
机译：IPO二次发行受到了人们的广泛关注。本文的目的是研究中国资本市场上的IPO二次发行对IPO抑价的影响。使用2013年12月至2016年4月上海和深圳A股上市公司的IPO二次发行和IPO抑价的数据进行实证分析。研究发现，IPO二次发行对IPO抑价产生重大影响，并且随着IPO二次发行所占比例的增加，IPO抑价趋势趋于下降。进一步的分析和测试表明，在良好的市场中，IPO二次发行对IPO抑价的抑制作用将减弱，但对中小企业板没有影响。在主板市场，IPO二次发行对IPO抑价没有重大影响。在创业板和中小企业板市场上，IPO二次发行对IPO抑价产生重大影响，两者呈负相关。结果进一步验证了IPO二次发行对IPO抑价的作用，并为改善中国资本市场提供了一些启示。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号