创业板IPO高初始收益及原因探究

发布时间：2018-02-03 03:45

本文关键词： 创业板投资者情绪初始收益网上发行中签率　出处：《经济与管理研究》2010年08期 　论文类型：期刊论文

【摘要】：本文以2009年10月30日在创业板上市的28只股票为研究对象,以网上发行中签率、首日换手率、网下发行中签率、首日交易金额等作为投资者情绪的衡量变量,通过检验投资者情绪与创业板上市股票初始收益的关系,发现投资者情绪变量中只有网上发行中签率与首日初始收益高度相关。通过构建投资者情绪与首日初始收益的回归模型,进行回归分析得出在创业板上市的股票其首日初始收益主要受投资者情绪的影响,在此基础上提出关于在创业板进行投资的建议。
[Abstract]:This paper takes 28 stocks listed on the gem in October 30th 2009 as the research object, with the success rate of online issuance, the first day turnover rate, and the off-net issuance rate. As a measure of investor sentiment, the first day trading amount is used to test the relationship between investor sentiment and initial income of gem listed stocks. It is found that only online issuance success rate is highly correlated with the initial return on the first day among investor sentiment variables, and a regression model between investor sentiment and initial income on the first day is constructed by constructing a regression model of investor sentiment and initial income on the first day. The regression analysis shows that the initial income of the listed stocks on the gem is mainly affected by the investor sentiment, and then puts forward the suggestion of investing in the gem.
【作者单位】：中国矿业大学管理学院;
【基金】：中国矿业大学项目“大学生实践创新训练”(矿教科研2009-131号)的阶段成果
【分类号】：F832.51
【正文快照】： _己.健全、碑l『J 20(刃年10月30日，，我国酝酿已久的创业板终于在人们的翘首企盼中揭开了面纱。28只创业板股票的上市，翻开了中国“纳斯达克”历史的首页。这28只股票预示着中国资本市场的逐步成熟和完善，是中国资本市场划时代的一个转折点。创业板就像一个“潘多拉宝盒”

【相似文献】