创业板IPO首日破发成因实证研究

发布时间：2018-04-20 08:26

本文选题：IPO + 新股发行制度　；参考：《财会通讯》2014年29期

【摘要】：正一、引言自2009年6月推行新股发行市场化改革以来,在创业板发行并上市的355只股票中,就有52只新股上市首日即破发,首日破发率14.65%,且在发行价上方低位震荡的不在少数,据统计,2010年5月20日挂牌上市的4只新股中就有2只首日破发,之后新股首日破发屡见不鲜。尤其进入2011年,破发愈演愈烈,全年发行125只新股,就有30只首日破发,首日破发率24.00%,其中上半年破
[Abstract]:First, since the introduction of the market-oriented reform of new share issuance in June 2009, of the 355 stocks issued and listed on the gem, 52 of them broke on the first day of listing, with a break rate of 14.65% on the first day, and there were not a few low volatility at the top of the issue price. According to statistics, 2 of the 4 new shares listed on May 20, 2010, broke on the first day. In particular, in 2011, the break intensified, 125 new shares issued throughout the year, there are 30 first day break, the first day break rate 24.00, which broke in the first half of the year.
【作者单位】：南京航空航天大学;
【基金】：南京航空航天大学大学生科技创新基金(编号:20120126198368)资助
【分类号】：F832.51

【参考文献】