| 创业投资机构对其支持企业IPO抑价度的影响 |
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| 引用本文： | 张凌宇. 创业投资机构对其支持企业IPO抑价度的影响[J]. 产业经济研究, 2006, 0(6): 36-41 |
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| 作者姓名： | 张凌宇 |
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| 作者单位： | 南京农业大学,经济管理学院,江苏,南京,210095 |
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| 摘 要： | 本文介绍了国外关于创业投资机构如何影响企业IPO抑价度的主要理论,在此基础上以我国的中小企业板上市公司为研究对象,通过比较分析发现与非创投支持企业相比创投支持企业有着更高的抑价度,进一步地研究表明该现象可用Am it et.al.[1]提出的逆向选择理论来解释。
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| 关 键 词： | 创业投资机构 IPO 抑价 认证作用 逆向选择 |
| 文章编号： | 1671-9301（2006）06-0036-06 |
| 收稿时间： | 2006-07-05 |
| 修稿时间： | 2006-07-05 |
Effects of Venture-Capital Firms on the Degree of Underpricing in Initial Public Offering of Companies Backed by Them |
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| ZHANG Lingyu. Effects of Venture-Capital Firms on the Degree of Underpricing in Initial Public Offering of Companies Backed by Them[J]. Industrial Economics Research, 2006, 0(6): 36-41 |
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| Authors: | ZHANG Lingyu |
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| Abstract: | This paper introduces main underpricing literature on venture-capital backed companies,by using these principles we analyzed the differences between venture-backed and non venture-backed companies in the small and medium-sized enterprise stock market,the result is that the former suffer greater underpricing than the latter,further study shows this can be explained by the theory of adverse selection proposed by Amit et.al.~([1]). |
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| Keywords: | venture capital firms underpricing IPO certification role adverse selection |
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