| 创业资本对创业板IPO抑价度影响的实证研究 |
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| 引用本文： | 游达明,曾蔚.创业资本对创业板IPO抑价度影响的实证研究[J].北京工商大学学报(社会科学版),2012,27(2):84-89. |
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| 作者姓名： | 游达明 曾蔚 |
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| 作者单位： | 中南大学商学院,湖南长沙,410083 |
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| 摘 要： | 我国创业板市场存在着明显的IPO抑价现象,并且在其上市的公司背后大都有创业投资机构支持,他们通过协助企业在资本市场上市,实现企业和自身投资活动的增值,创业资本对创业板市场IPO现象存在的影响一直是学术界关注的话题。以2009年10月23日至2010年12月31日间在我国创业板上市的153家公司作为研究对象,对影响创业板IPO抑价度的解释变量进行回归分析,得出结论并提出相关建议。
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| 关 键 词： | 创业投资 IPO抑价 创业板上市公司 |
Empirical Study on the Influence of Venture Capital upon IPO Under-pricing in GEM Board |
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| You Da-ming
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Zeng Wei.Empirical Study on the Influence of Venture Capital upon IPO Under-pricing in GEM Board[J].Journal of Beijing Technology and Business University:Social Science,2012,27(2):84-89. |
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| Authors: | You Da-ming Zeng Wei |
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| Institution: | You Da-ming & Zeng Wei (School of Business,Central South University,Changsha,Hunan 410083,China) |
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| Abstract: | There is an obvious phenomenon of IPO under-pricing on China's Growth Enterprise Market(GEM).Moreover,most listed companies are backed by venture capital(VC).The VC institutions help the enterprises listed on the capital market to achieve the value increment of both the enterprises and VC's own investments.The effect of VC upon the IPO on GEM has been of constant concern in the academic circle.Based on the data of 153 listed companies of China's GEM from October 23,2009 to December 31,2010,this paper takes the STEPLS method to make a regression analysis of explanatory?variants which affect the IPO under-pricing on the GEM.Finally,it draws a conclusion and puts forward the corresponding proposals. |
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| Keywords: | venture capital(VC) IPO under-pricing listed companies on GEM |
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