摘要
首次公开招股(IPO)抑价是普遍存在的现象,尤其是我国中小板市场IPO抑价现象相当严重。以股改之后IPO重启到2010年9月10日为止,在中小板上市的421家公司为样本,用它们上市最近一期的每股经营性现金流以及前两年的每股经营性现金流的增量为变量,通过回归分析发现IPO高抑价与经营性现金流有相关关系。
IPO underpricing is a common phenomenon in the stock market,especially in China＇s small and medium-sized enterprises（SME）board.The paper based on the restart of IPOs after the split share structure reform to September 10th 2010 so far,the 421 companies in SME listed as samples,using their latest operating cash flow per share and the first two years of operating cash flow per share Increments for variables,finds out that the high IPO underpricing and operating cash flows are correlated by means of regression analysis.
出处
《四川教育学院学报》
2011年第5期46-51,共6页
Journal of Sichuan College of Education
