影响我国IPO费用的主要因素  

The Main Factors of Effecting On Our Country's IPO Costs

作　　者：陈苏丽[1] 李锐[1] 

机构地区：[1]广西师范大学经济管理学院,广西桂林541006

出　　处：《现代物业（中旬刊）》2011年第10期4-6,共3页Modern Property Management

摘　　要：为认清中国大陆IPO发行费用居高不下的原因,本文从毛利差、市场集中程度和发行规模与香港进行了对比分析,实证结果表明:中国大陆市场集中度和费率明显高于香港。该实证结果反应了中国市场上证券商的声誉机制和公司委托代理机制还存在明显缺陷,长期抑价机制损害了上市公司的利益。For recognizing the IPO issuance expenses of China's Mainland to the cause of the high, this paper from Maori difference, the degree of market concentration and issue size and Hong Kong for a comparative analysis, the results show that the China's Mainland market concentration is high, and significantly higher than the rate of Hong Kong. The empirical results response Chinese market mechanism and the reputation of the securities company principal-agent mechanism also has the obvious flaw, long-term price mechanism can damage or the interests of the listed company.

关 键 词：IPO抑价 市场集中度 毛利差 

分 类 号：F832.51[经济管理—金融学] F224