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国外股票IPO的三种实证现象及其理论解释 被引量:23

Three Case Studies of IPOs Overseas
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摘要 目前国外股票首次公开发行(IPOs)的研究主要集中于三种普遍现象,即股票首次公开发行定价过低(IPOs Underpricing),股票首次公开发行后的长期弱势(Long RunUnderperformance of IPOs)以及股票首次公开发行的热销市场(Hot Issue Markets)。
作者 桑榕
出处 《证券市场导报》 北大核心 2002年第5期40-45,共6页 Securities Market Herald
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参考文献12

  • 1Allen,F and. GR.Faulhaber, 1989, Signalling by Underpricing in the IPO market. Journal of Financial Economics 23, 303-323.
  • 2Barron, D., 1982, A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues. Journal of Finance 37, 955-976.
  • 3Benveniste, L. M. and P. A. Spindt, 1989, How Investment Bankers Determine the Offer Price and Allocation of New Issues. Journal of Financial Economics 24, 343-361.
  • 4Brennan, M. and J. Franks, 1995, Underpricing, Ownership and Control in Initial Public Offerings of Equity Securities in the U. K.. Journal of Financial Economics 45, 391-413.
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  • 6Hughes, P. J. and A. V. Thakor, 1992, Litigation Risk, Intermediation, and the Underpricing of Initial Public Offerings. Review of Financial Studies 5, 709-742.
  • 7Jekinson, T. and Liungqvist, A., 1996, Going Public: The Theory and Evidence on How Companies Raise Equity Finance, Oxford University Press.
  • 8Loughran,T.,J.R.Ritter,1995,The New Issue Puzzles, Journal of Finance 50,23-50.
  • 9Ritter,J. R.,1991,The Long-Run Underperformance of Initial Public Offerings, Journal of Finance 46,23-50.
  • 10Ritter,J.R.,"Investment Banking and Securitise Issuing" in Handbook of the Economics of Finance,Constantinides,G.,M. Harris,and R.Stulz,eds.,forthcoming.

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