摘要
利用多因素逐步回归法对IPO(Initial Public Offerings)定价变量进行调整,选取行业平均市盈率、每股收益、每股净资产、发行后流通股比例和年成长率共5个内外部因素,建立了动态化的IPO定价模型.多项假设检验表明调整变量的定价模型具有较好的统计特征,在实证检验中该模型也具有较好的适用性,优化了现有的定价模型.
The IPO （Initial Public Offerings） pricing variables were adjusted by multivariate stepwise regression analysis. And a new dynamic IPO pricing model was established on the basis of five internal and external factors including the industry average price-earnings ratio, earnings per share, net assets per share, share ratio in circulation and annual growth rate. It was proved that the IPO pricing model based on variable adjustment had better statistical characteristics by hypothesis test. And the empirical test showed that the model had better applicability and optimized the existing pricing model.
出处
《东华大学学报（自然科学版）》
CAS
CSCD
北大核心
2009年第2期222-228,244,共8页
Journal of Donghua University(Natural Science)
关键词
定价理论
IPO定价模型
逐步回归法
变量
检验
pricing theory
IPO pricing model
stepwise regression analysis
variable
test
