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政府是否应该干预新股定价

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摘要 本文从信息不对称角度重新认识新股定价的多主体博弈过程,论证新股行政性定价机制的引入是政府为了避免发行市场“信息陷阱”的合理选择,它保证新股发行成功,但导致新股发行的混合均衡,牺牲了资源配置效率。新股定价市场化改革可以实现分离均衡和资源配置的双重目标,但必须考虑到实现的约束条件。
作者 杨丹
出处 《金融教学与研究》 2003年第6期43-45,共3页 Finance Teaching and Research
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