摘要一、引言IPO折价(Initial Public Offering Under-pricing)是首次公开募股的股票发行价低于上市后的市场交易价的现象,作为违反有效市场的金融异象之一其广泛存在于国际股票市场。自从金融经济学家Logue 1973年首次将IPO折价现象称之为"新股发行之谜"以来,IPO折价现象就成为股票发行市场上最令人关注的现象之一。
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