| 我国新股发行定价的市场化改革的政策效应 |
| |
| 引用本文： | 叶华,陈海明.我国新股发行定价的市场化改革的政策效应[J].南京农业大学学报(社会科学版),2005,5(3):13-17. |
| |
| 作者姓名： | 叶华 陈海明 |
| |
| 作者单位： | 南京医药股份有限公司,南京,210002;上海申银万国证券有限公司,上海,200031 |
| |
| 摘 要： | 随着我国新股发行定价市场化改革的推进,新股发行市盈率和价格有所提高,然而一、二级市场的巨大价差并未得以缩小,反而有所提高,这是与缩小一、二级市场价差的改革初衷相违背的。同时,市场化改革还导致企业超额募集资金,并且出现流通股比例最小化的趋向,因而必须采取相应措施来进一步提高新股发行定价市场化改革的政策效应。
|
| 关 键 词： | 新股发行 市场化 发行定价 政策效应 |
| 文章编号： | 1671-7465(2005)03-0013-5 |
| 修稿时间： | 2005年3月30日 |
The Policy Effect of the Marketization Reform of New Shares Issuance Pricing in China |
| |
| YE Hua,CHEN Hai-ming.The Policy Effect of the Marketization Reform of New Shares Issuance Pricing in China[J].Journal of Nanjing Agricultural University(Social Science Edition),2005,5(3):13-17. |
| |
| Authors: | YE Hua CHEN Hai-ming |
| |
| Institution: | YE Hua~1,CHEN Hai-ming~2 |
| |
| Abstract: | The P/E ratio and the issuing price of new shares increase along with the promotion of the marketization reform of new shares issuance pricing in China.However,the price gap between the primary market and the secondary market does not shrink but expand,which contravenes the original intention to reduce the price variance.Meanwhile,the marketization reform results in enterprises raising funds above quota,and makes the rate of tradable shares tend to be minimum.Therefore,relevant measures should be adopted to improve the policy effect during the marketization reform of new shares issuance pricing. |
| |
| Keywords: | IPO(Initial Public Offering) Marketization Issuance Pricing Policy Effect |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ |
|
