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我国新股发行定价机制对IPO抑价的影响 被引量:4

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摘要 我国证券市场上IPO的定价、抑价过高,股票价格与价值背离,使得新股在市场上的长期表现不佳,市场效率低下。文章从新股的发行方式及定价方式这一角度,分析其对我国股市IPO定价效率的影响,研究结果表明,法人配售的参与与否对股抑价率水平没有明显影响,但向二级市场投资者配售比单纯面向全体投资者公开定价发行的抑价水平要低,此外询价发行方式能有效的降低抑价率水平。
作者 刘时阳
出处 《生产力研究》 CSSCI 北大核心 2010年第3期112-113,120,共3页 Productivity Research
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