基于所有权分散理论的IPO抑价现象实证分析

摘要

IPO抑价一直都是金融界研究的焦点问题。但至今IPO抑价现象的成因仍未形成统一的认识。本文选取了2009年1月1日到2010年3月19日期间在深圳成功的IPO的35家公司中的119只股票进行了分析。结果发现：所有权越分散,抑价率就越低,二者呈负相关。%IPO underpricing has been the focus of financial research.But the causes of the IPO underpricing phenomenon haven＇t formed a unified understanding.The paper selected the 35 stocks of 119 companies to analyze which were successful IPO from 2009 January 1st to March 2010 and 19th in Shenzhen.The results showed that： the more the ownership dispersed,the lower the underpricing,the two were negatively correlated.