Dissertation > Excellent graduate degree dissertation topics show

Comparative Study on the Multiperiod of GEM IPO Pricing Efficiency in China

Author: DuanZhiYong
Tutor: ZuoBaoZhong
School: Donghua University
Course: Finance
Keywords: IPO Pricing efficiency Multi-period Comparative Study
CLC: F832.51
Type: Master's thesis
Year: 2012
Downloads: 36
Quote: 0
Read: Download Dissertation

Abstract


GEM is introduced in our country has been more than two years, has now become an important part of China's capital market. However, since the introduction of the date, GEM has been plagued by the issue of price-earnings ratio and high IPO underpricing rate how the the GEM IPO pricing efficiency, has become the focus of attention of the theorists. In this paper, the theory of finance, econometrics, the main line to the the GEM IPO pricing efficiency in the short-term multi-period comparison, a comparative analysis of the different classifications of GEM IPO pricing efficiency, and trying to figure out our the GEM IPO pricing efficiency The causes of the differences at different times by different classifications Finally, the influencing factors of China's GEM IPO pricing efficiency of multiple linear regression analysis, and policy recommendations on how to improve the efficiency of China's GEM IPO pricing. Firstly, the efficiency of the IPO pricing definition then leads from the development process of review of the GEM, GEM in China currently faces prominent contradictions that high issue price-earnings ratio and high IPO underpricing statistical analysis of these two issues were to find out the reasons for its vision, that the primary and secondary markets of China's GEM there caused by the imbalance between supply and demand. Then select our the GEM IPO pricing efficiency metrics, the average closing price for the period of time after the IPO shares listed instead of the closing price of the IPO date. Article then four periods of GEM IPO pricing efficiency in the short-term, respectively, from the industry, the reputation of the underwriters, starting a different classification of the listed date comparative analysis, found that high-growth industry IPO pricing efficiency is relatively low; underwriter reputation IPO more efficient pricing; IPO pricing efficiency in the cold when the market is higher than the thermal market pricing efficiency. By the author of the IPO pricing efficiency of the mutual comparisons between different periods of the short to medium term: IPO short-term pricing efficiency does not mean that the IPO the interim pricing efficiency on high; overall China's GEM IPO year pricing most efficient IPO interim pricing efficiency more reasonable than the IPO short-term pricing efficiency. Chinese GEM IPO year pricing efficiency factors by multivariate linear regression analysis, year pricing efficiency of the main factors affecting Chinese GEM IPO market index, underpricing and ROE growth last make policy recommendations in this article from the angle of GEM IPO pricing efficiency, that the the issued approval approval system should be progressive, changes to the registration system and improve the information disclosure system synchronization, the sponsor system, increasing the ratio of the outstanding shares of the IPO issue when introduced Green shoe mechanism.

Related Dissertations

  1. Comparative Research on the Contents of Information Technology in Elementary Schools between China and India,G623.58
  2. The Comparative Study of the Course Content of Gymnastics of the Chinese Mainland and Taiwan Professional Sports Colleges,G831
  3. Study on Comparison between Miccoli Thyroidectomy and Conventional Open Thyroidectomy,R653
  4. Artistic gymnastics teaching pedagogy of three intuitive comparative study,G834
  5. Eastern China in the New Comparative Study of differentiation of the peasantry,D663.2
  6. PEP, for Jiangsu ' high school curriculum standard textbook · Languages ??( compulsory ) , \,G633.3
  7. Xinxiang City , Henan Province, secondary school art teaching and school art teaching comparative study,G633.955
  8. Midwestern farmers Media Literacy Research,G206
  9. Comparative Study on Civil Service Recruitment System of British and America,D756.1
  10. Comparative Study on the STS of High School Physics Textbooks between "PEP’ and Shanghai Scientific and Technical Publisher,G633.7
  11. A Contrastive Study on Modality in American and Chinese TV Interviews,H314
  12. Comparative Study of Chinese and English commonly used derogatory term,H313
  13. Comparative Study of Chinese and English parenthesis,H314
  14. A Corpus-Based Intertextuality Analysis of the Reportage on Shanghai World Expo,H052
  15. A Comparative Study of Female Painting Image between Gai Qi and Rossetti,J20-03
  16. Comparative Study on American Revolution in Different History Textbooks in Junior High School,G633.51
  17. The Comparative Study of Historical Evidence Teaching in the Middle School of China and England,G633.51
  18. A comparative study of the Shandong zheng sent Henan Zheng sent,J632.32
  19. Comparative Study of Normal Strategy and Top Strategy in Full-automatic Visual Field Examination,R775
  20. Comparative Study of Chinese and Japanese in Same Shape Chinese Character,H36
  21. On Style Transfer from the Perspective of Stylistic Markers,H059

CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Financial market
© 2012 www.DissertationTopic.Net  Mobile