| 首次公开发行的长期考察 |
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| 引用本文： | 李树辉. 首次公开发行的长期考察[J]. 湖南科技大学学报(社会科学版), 2001, 3(1): 13-15 |
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| 作者姓名： | 李树辉 |
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| 作者单位： | 西南财经大学会计学院, |
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| 摘 要： | 对中国股票市场首次公开发行（IPO）的价格行为进行了长期考察，考察期为24个月。所使用的报酬率标准为累积异常报酬率（CAR）和持有期报酬率。为使研究更为深入，分别以发行规模、首日报酬率和行业进行了横截面分析。考察结果表明，无论从短期还是长期看，IPO定价偏低。
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| 关 键 词： | 首次公开发行 长期考察 价格 |
| 文章编号： | 1009-5357(2001)01-0013-03 |
| 修稿时间： | 2000-04-24 |
Investigation about the long-run price behavioral of initial public offerings |
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| LI Shu-hui. Investigation about the long-run price behavioral of initial public offerings[J]. journal of hunan university of science&technology, 2001, 3(1): 13-15 |
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| Authors: | LI Shu-hui |
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| Abstract: | The long-run price behavior of initial public offerings is investigated,and the investigated pierod is 24 months.The used measurement standards are cumulative abnormal return and buy-and-hold abnormal return. Cross-section analyses are conducted by offering size、initial return and industry。The investigated result is that IPO underpriced both in short-run and long-run. |
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| Keywords: | initial public offerings long-run performance price |
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