国外新股短期发行抑价现象及其理论综述

A Summary on the Phenomenon and Theory of the Short-run Under-pricing about New Stocks Abroad

新股短期发行抑价现象在世界各国的股票市场中几乎是一种普遍存在的现象。无论是发达国家成熟市场还是发展中国家新兴市场 ,都普遍存在着显著的新股短期发行抑价现象。对新股短期发行抑价现象进行研究仍然是目前较为热门的课题之一。国外学者对新股短期发行抑价现象的研究所形成的一些理论解释对我国认识这一现象将具有一定的启示。

It is a very universal phenomenon that the short-run under-pricing of new stocks appears in the stock markets of the world,both in the developed countries and the developing countries. This phenomenon is still one of the popular questions to be studied. For such a phenomenon, scholars abroad have put foreword some theories as explanations, which will enlighten the domestic scholars' cognition of such a phenomenon.