ipo price 中文意思是什麼

ipo price 解釋
首次公開招股價
  • ipo : IPO ＝initial public offering 【經濟學】（股票的）首次公開上市。
  • price : n 普賴斯〈姓氏〉。n 1 價格，價錢；市價；代價；費用。2 報酬；懸賞；交換物；〈美俚〉錢；（為取得某...
  1. With the rapid development of the security stock market especially the stock market in chian ， issuing stock and circulating on market became the first choice of financing for more and more enterprise at the same time ， more and more investors are attracted by the relately high initial return of stock however ， the problem of ipos underpricing always exists in the stock market according to the data of more than one thousand chinese stocks ， most new issues had great raise in the first trade day ， and investors could acquire higher initial return than the average return of the stock market or the same industry we find that initial returns on a - share ipos average reached 132. 24 percent the main body of this paper is made up of six sections ： in the first part ， we introduced the method of the estimate of pricing decision ； in the second part ， we analyzed the method of the pricing decision and issuing system in china ， discussed the advantage and weakness of the various issuing methods ， and compared the economic efficiency between the examine and approve system and authorization system ； in the third part ， we analyzed the reason of ipo ' s underpricing in detail from information economics and other factors and combined with the environment of the chinese stock markets ， we analyzed the special characteristics in china and how they effect the ipo ' s underpricing in the fourth part ， we analyzed the data of chinese stock market with spss ， made a analysis of the administrative pricing decision and market pricing decision ， studied the underpricing phenomena of chinese stock market ， and analyzed it ' s causes ； in the fifth part ， we made a analysis of the examine approve system and authorization system ； and in the last part ， we drew some conclusions and put forth some policy advices the follow are the conclusions and policy advices in this dissertation ： （ 1 ） from the results of this empirical study ， we found that the issuing price - earning ratio and the market situation before ipos are strongly and positively associated with the underpricing of shares ， the issuing scale of ipo and the hit rate are strongly and negatively associated with the underpricing ； （ 2 ） we found that after the abolishing of ipo ' s p / e ratio and the using of authorization system ， there is no significant difference among the underpricing of shares ， but considered with the market entironment ， we think that the ipo ' s underpricing has been correspondingly reduced （ 3 ） to reduce difference between the primary market and the second market ， we suggested that we shall bring the " over - allotment option ( oao ) " to bear and resume the state - owned share and corporate - owned share to circulate on market as soon possible

    本文的主體由六個部分組成：第一部分介紹新股發行定價的估值方法；第二部分對我國的發行定價方式和發行制度進行分析，探討不同發行定價方式的優缺點，以及審批制和核準制經濟效率分析；第三部分從信息經濟學角度和其他因素的角度詳細分析造成新股發行抑價的原因，並結合我國股票市場實際情況，分析了我國市場的特有因素是否及如何影響一級市場的發行抑價程度的；第四部分利用統計分析軟體spss對我國新股行政化和市場化定價進行實證分析，主要包括新股發行行政化和市場化定價方式的實施情況和效果分析、新股發行行政化定價方式的實證分析，以及新股發行行政化和市場化定價方式的比較實證分析；第五部分利用統計分析軟體spss對我國新股發行審批制和核準制進行實證分析；第六部分是本論文的主要結論。本文的主要結論和建議有： （ 1 ）從實證分析結果看，我國新股發行抑價與市場環境、發行市盈率呈顯著正向關系，與發行規模、申購中簽率等呈顯著反向關系。 （ 2 ）取消發行市盈率限制和實施核準制等市場化改革措施並沒有降低發行抑價的絕對水平，只是由於市場環境的因素，發行抑價的相對水平才有所降低。
  2. It is found that chinese underpricing is highly related to factors such as primary shares, p / e ratio, according to empirical study. it is also found that chinese ipo price trend is rather stronger than the market within 14 months, and obviously weaker than the market in 15 - 37 months

    新股長期弱勢的實證研究主要限於指標分析，結論是我國新股上市14個月內的走勢略好於大市，但是15 ? 37個月內的走勢明顯弱於大市。
  3. Private companies positioning their books and financial statements for an ipo also become keenly aware that the ipo price of their stock is generally derived from a multiple of its reported earnings

    非上市公司為了首次公開募股公開財務結算和帳薄，還應該十分清楚地認識到，公司股票第一次募集的價格基本上取決于對它所報告的收入的綜合分析。
  4. Underwriters of initial public offerings ( ipo ) and seasoned equity offerings ( seo ) often engage in price stabilization to prevent significant declines in the market after a new security is issued

    摘要新上市股票或現金增資股票發行后若市場價格下跌，其承銷商可能會有護盤之安定操作行為，以防止市價進一步的下跌。
  5. The motives of earnings management including debt contracts, profit sharing plan, handling supervision, anti - trust, minimized income tax, ipo, and enhancing share price not only are realized in the western capital market but also have some impact in chinese capital market

    這些盈餘管理的債務契約動機、分紅計劃動機、代理人競爭動機、應付行業監管動機、反托拉斯動機、最小化所得稅動機、首次發行動機以及提升股票價格等動機不僅在西方資本市場得到了證實，也在中國資本市場有所反應。
  6. Once book - building is completed, a price can be set for the ipo

    詢價圈購一旦完成，便可確定首次公開發行的價格。
  7. Book - building the process conducted by theinvestment bank leading an to ascertainpotential market interest in the offer at variousproposed prices. once book - building iscompleted, a price can be set for the ipo

    詢價圈購：投資銀行提出多種建議價格以確定潛在的市場對報盤有多少興趣的行為。詢價圈購一旦完成，便可確定首次公開發行的價格。
  8. However, people close to the situation warned the offers tabled by investors were not firm commitments and could be withdrawn depending on the ipo ' s final price

    然而內情人士警告說，投資人提出的購股意向並非實盤認購，可能根據首次公開發行的最終價格而撤消。
  9. Instead of the ipo price being set too low, it can be pushed to an unsustainable level by the ignorant and lazy

    與首發上市定價過低相反，股價會被無知和懶惰的投資者哄抬到一個無法維持的高水平。
  10. One of the primary standard of deciding the extent of accuracy is that the difference between the ipo price and the expected secondary market price

    發行定價是否貼近預期的二級市場價格，是判斷新股發行定價是否合理的主要標準。
  11. It is a major standard to determine if the ipo price is reasonable whether the ipo price is close to the expecting the secondary market price

    從國際證券市場的實踐看，新股發行價格往往會低於新股上市首日的價格，存在新股發行抑價現象。
  12. But if there is a big difference in price between the new offer and the second - class market, it will indicate that there is irrationality in the way of the ipo pricing

    但如果發行定價與二級市場價格相差過大，則說明發行定價方式存在一定的不合理性。
  13. Primary market is the base of the total stock marker, and the formation of ipo price not only reflects market maturity, but also constitutes the base for healthy function of the stock market and efficient resources a i location

    發行市場在股票市場中處于基礎地位，發行價格的形成過程不僅反映了整個市場的成熟度，也是整個股票市場健康運行和效率提高的基礎。
  14. The multi - factors ipo pricing model of this research had greatly reduced the tacking error between ipo price and market price, closely simulated the marketable pricing process, proved to be feasible on the actual application, and established a foundation for further improvement

    論文中建立的ipo定價多因素模型不僅大大降低了新股定價同市場定價的誤差，已經具備了實踐運用的條件，並對市場化定價程序進行了較為逼真的模擬，為后續定價模型的完善創造了條件。
  15. Ipo underpricng is referred to an average excess return, statistically significantly positive, of a new issue immediately aftermarket relative to its offering price. a common perception is that underpricing is a challenge to market efficiency at least apparently

    所謂新股發行抑價，是指首次公開發行的新股上市后，其二級市場價格相對一級市場發行價格，在統計上所存在的顯著為正的平均超額收益。
  16. On the one hand, we find that security analysts " recommendations can neither lead to abnormal returns nor influence price fluctuation. on the other hand, we use risk - adjusted profit to test the funds " performance persistence and find that funds can not beat the market without favorite treatment, such as subscribing ipo shares. their performance is affected by market

    第六章通過對證券分析師薦股行為的研究，一方面發現證券分析師的薦股並非是從個股的基本面理性分析，而是主要根據個股的前期走勢，結合證券分析師的羊群效應，說明分析師行為不理性。
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