Interrelation between Firms'IPO Issuing Decision and Market Conditions in China

摘要

The problem of fluctuation in IPO volume exists in most countries in the world,new studies call this phenomenon as IPO Waves.According to current study,IPO Waves are caused by market conditions and in firm's individual actions.Thus,this paper studies both of the two factors and makes empirical analysis to explain the mechanism of IPO waves,using a model involving firm's return and total capital of the market.We also add typical variables into the model to reflect the particular characters in Chinese firms' motivation of IPO.