股票发行制度与IPO融资相关关系分析

摘要企业通过在公开市场上首次公开发行股票（Initial Public Offering，IPO）进行融资，完成一个资金与所有权在企业与投资者之间的双向流动。中国企业在进行这一项筹资活动时，必定要受证券监督管理部门制定的股票发行的相关规章制度的制约。发行制度的渐进式变迁也促使企业的IPO方式和效率在发生着改变。本文选取了年A股IPO的发行情况进行实证研究。实证研究结果表明，股票发行制度与IPO融资存在显著的相关关系。我国股票发行审核制度的改革方向是正确的，企业的融资效率在显著加强；股票发行方式改革加剧了企业取得IPO资格的竞争程度；发行定价方式的市场化改革有利于国有股上市流通；宏观经济形势与IPO融资显著负相关；发行市场与交易市场有显著的正向联动性。82744

毕业论文关键词股票发行审核制度股票发行方式发行定价方式 IPO融资

毕业论文外文摘要

Title An empirical study on the relationship between the system of stock pubic offering and IPO finance

Abstract Enterprises through the open market for the first time publicly issued shares to finance, the completion of a two-way flow of funds and ownership in the enterprise and investors。Chinese enterprises in the financing activities, will be subject to the relevant regulations of China's stock issuance made by securities regulatory authorities。The gradual change of the distribution system also urges the enterprise's IPO way and efficiency is changing。This paper selects the A shares of IPO from 1993 to 2014 to conduct an empirical study。 The empirical results show that there is a significant correlation between the stock issuance system and the IPO financing。China's stock issuing audit system reform direction is correct, the financing efficiency of enterprises in a significant strengthening。The reform of issue methods of the stock aggravates the competition degree of the enterprise to obtain the IPO qualification。The market-oriented reform of the issuing pricing mode is conducive to the circulation of the state-owned shares, and the macro economic situation is significantly negatively related to the IPO financing。There is a significant positive correlation between the issue market and the stock exchange market。

Keywords The audit system of stock issuance The way of IPO Pricing method of IPO

IPO finance

1 引言………………………………………………………………………………………… 1

1。1选题背景………………………………………………………………………1

1。2 研究的目的及意义…………………………………………………………………………1

1。3 研究的思路及方法……………………………………………………………………2

2 文献综述……………………………………………………………………………………3 股票发行制度与IPO融资相关关系分析:http://www.youerw.com/jingji/lunwen_97177.html