欧债危机对深圳创业板市场IPO发行抑价影响的研究

Research of European debt crisis's influence on SZ GEM IPO issuing price

本文将欧债危机事件的爆发作为分水岭,考虑其对国内IPO市场的影响。本文首先提取国内外关于导致发行抑价原因的研究,从理论上总结影响深圳创业板发行抑价的十个因素。然后通过实证研究,建立影响深圳创业板IPO发行抑价的多因素模型,并对影响因素进行实证检验。最后,基于深圳创业板市场IPO发行抑价的影响因素,结合我国国情,总结导致深圳创业板IPO发行抑价的主要原因并提出建议。

In this paper we take the debt crisis outbreak as the threshold,consider its influence to domestic IPO market.Firstly we extract about the causes of IPO＇s underpricing at home and abroad,theoretically summarizes ten factors that influence Shenzhen GEM IPO＇s underpricing.And then through the empirical research,establishing multi-factor model of Shenzhen GEM IPO underpricing,and taking the influence factors into the empirical test.Finally,based on the Shenzhen GEM market IPO underpricing issue influencing factors,combining the situation of our country,we summarize the main reasons leading to shenzhen gem IPO underpricing issue and got forward some suggestions.