| 中小企业板IPO抑价现象实证研究 |
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| 引用本文： | 李建超,周焯华.中小企业板IPO抑价现象实证研究[J].软科学,2005,19(5):34-38. |
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| 作者姓名： | 李建超 周焯华 |
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| 作者单位： | 重庆大学,经济与工商管理学院,重庆,400044 |
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| 基金项目： | 国家自然科学基金项目（70371030） |
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| 摘 要： | 回顾了近年来IPO抑价的主要理论,并对我国中小企业板发行的股票进行了实证分析。通过实证分析发现,我国中小企业板IPO存在相对严重的抑价现象,可用投机-泡沫假说解释;更为严格的信息披露等制度对中小企业板的发展起了一定的积极作用。
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| 关 键 词： | 中小企业板 IPO 抑价 |
| 文章编号： | 1001-8409（2005）05-0034-05 |
An Empirical Study on the Initial Public Offering Underpricing in SME Stock Market |
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| LI Jian-chao,ZHOU Zhuo-hua.An Empirical Study on the Initial Public Offering Underpricing in SME Stock Market[J].Soft Science,2005,19(5):34-38. |
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| Authors: | LI Jian-chao ZHOU Zhuo-hua |
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| Institution: | School of Economics and Administration, Chongqing University, Chongqing, 400044, China |
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| Abstract: | This paper reviews the theories of IPO underpricing in recent years, and conducts an empirical study on SME stock market. The study indicates that there is an excess rate of return on SME stock market, and can be explained by Speculative-bubble Hypothesis. Some of SSE Guidelines have the positive effect on the development of SME stock market. |
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| Keywords: | small and medium-sized enterprise stock market Initial Public Offerings underpricing |
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