摘要
IPO抑价一直是我国IPO最显著的特征,但是抑价水平是否真的一直居高不下?影响抑价率的因素又有哪些?文章利用抑价率来衡量抑价水平,并对可能的影响因素如市场指数(深圳成指)变化率、募集资金总额、摊薄发行市盈率、发行费用、发行总股数、网上配售中签率和上市首日换手率进行实证分析,得出影响IPO抑价的主要原因,并对解决我国IPO抑价问题提出参考性建议。
IPO underpricing is the most notable features in our country, but whether this is continue. What factors affect the rate of underpricing？ To this, this article use underpricing rate to measure the level of underpricing, and carried on the empirical analysis on the possible influence factors such as the change of mar- ket index rate（Shenzhen component index）,the amount of raise funds,diluted to release PE ratio,distribution costs,total number of shares,lot winning rate on online and turnover rate.Then this article set a conclusion that what are the main factors influencing tlae IPO underpricing, and puts forward suggestions to solve the problem of IPO underpricing in China.
关键词
IPO抑价
现状
换手率
发行费用
IPO Underpricing
Current Situation
Turnover Rate
Distribution Costs
