基于财务分析的创业板上市公司IPO效应研究

发布时间：2018-05-12 15:39

本文选题：发行市盈率 + 财务分析　；参考：《经济研究参考》2014年29期

【摘要】：正一、引言创业板自2009年9月成立以来到2012年12月31日,共有355家企业上市成功,已成为地位仅次于主板市场的二板证券市场,它为有潜力的高科技企业上市融资提供了重要渠道,从而促进高科技企业的发展壮大,因此创业板是对主板的良好补充。但创业板高发行价,高发行市盈率,高超募资金的"三高"现象一直备受质疑。创业板上市公司截至2013年3月1日的发行价格平均为29.71元,发行市盈率平均达55倍,然而创业板的指数却从最高点1239点跌到861点,多个创业板公司出现业绩下滑情况,公司普遍存在业绩不达标的情况(梁建敏,2013),导致市场对创业板的热度下降,是什么原因导致这种现象的产生呢?是否如主板一样,创业板也存在IPO效
[Abstract]:First, since the establishment of the gem in September 2009 and until December 31, 2012, 355 enterprises have been listed successfully, which has become the second board securities market second only to the main board market. It provides an important channel for the listed and financing of high-tech enterprises, thus promoting the development and growth of high-tech enterprises, so the gem is a good supplement to the main board. But gem high price, high price-earnings ratio, superb fund-raising "three high" phenomenon has been questioned. As of March 1, 2013, the average issuing price of the gem listed companies was 29.71 yuan, with an average price-earnings ratio of 55 times. However, the gem index dropped from its highest point of 1239 to 861 points, resulting in a decline in the performance of a number of gem companies. Companies generally do not meet the performance of the situation (Liang Jianmin Li 2013, resulting in the market on the gem heat decline, what is the cause of this phenomenon? Is there a IPO effect on the gem just like the main board
【作者单位】：中国人民公安大学计划财务处;财政部财政科学研究所;
【分类号】：F832.51;F275

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