原始股东持股比例对IPO价值影响的实证分析

The Effect of Proportion of Ownership Right Retained by Initial Shareholders on the IPO Value

利用 Leland和 Pyle( 1 977)提出的上市后原始股东股权留存比例模型和改进模型 ,对中国上市公司国有持股比例对 IPO价值影响进行了实证分析 .

Utilizing Leland and Pyles (1977) model for the proportion of ownership right retained by the initial shareholders after listing and its improved version, empirical studies have been carried out on the effect of the ownership right proportion held by Chinese government on the IPO value. The results of study could be used as a guide to whom concerned.