承销商声誉与IPO抑价的关系研究综述

A Review on the Relationship between Underwriter Reputation and IPO Underpricing

本文在文献回顾的基础上,对承销商声誉与IPO抑价的关系问题展开理论综述。国外通过一系列的研究表明,承销商声誉与IPO抑价之间呈负相关关系。虽然承销商声誉是影响IPO抑价率的重要因素之一,但在我国承销商声誉与IPO抑价间这种负相关关系并不显著,文章通过对国内外理论界对承销商声誉与IPO抑价之间关系的研究进行比较和综述。

After reviewing the literatures,this paper gives a review on the relationship between underwriter reputation and IPO underpricing.Through a series of abroad studies have shown that underwriter reputation and IPO underpricing is negatively correlated.Although underwriter reputation is an important factor that affect the IPO underpricing rate,but in our country underwriter reputation and IPO underpricing＇s negative correlation is not significant.This paper makes the comparison and review through the domestic and abroad theorists＇ study of the relationship between underwriter reputation and IPO underpricing.