| 基于随机前沿分析的创业板IPO抑价来源研究 |
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| 引用本文： | 陈艳丽,曹国华.基于随机前沿分析的创业板IPO抑价来源研究[J].技术经济,2010,29(12):32-35. |
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| 作者姓名： | 陈艳丽 曹国华 |
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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： | 国家社会科学基金资助项目 |
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| 摘 要： | 本文对在我国创业板上市的前50只股票的IPO抑价现象进行实证研究,发现创业板市场存在着严重的IPO抑价现象。然后,利用随机前沿分析方法检验出创业板IPO抑价不是来源于一级市场的故意抑价,可能来源于二级市场的错误定价。
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| 关 键 词： | 创业板 IPO抑价 随机前沿分析 |
Study on IPO Underpricing in China's GEM Based on Stochastic Frontier Analysis |
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| Chen Yanli,Cao Guohua.Study on IPO Underpricing in China's GEM Based on Stochastic Frontier Analysis[J].Technology Economics,2010,29(12):32-35. |
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| Authors: | Chen Yanli Cao Guohua |
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| Institution: | (School of Economics and Administration,Chongqing University,Chongqing 400044,China) |
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| Abstract: | Based on the data about 50 stock samples from growth enterprise market（GEM）,this paper finds that there exists initial public offering（IPO）underpricing behavior in the GEM through the empirical study.Then it uses Stochastic Frontier Analysis（SFA）to prove that there is no obvious intentional underpricing behavior in primary market,and IPO underpricing in China＇s GEM may be sourced from the mispricing of secondary market. |
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| Keywords: | growth enterprise market IPO underpricing stochastic frontier analysis |
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