The Research on IPO Pricing Model with Adjusted Variables and Its Empirical Study

摘要：

This paper uses the analysis framework of multifactor stepwise regression to adjust the IPO pricing variables. We selected 5 external factors to set up a dynamic IPO pricing model, namely, average industry price-earnings ratio, earnings per share, net assets per share, proportion of circulating shares after issue and annual growth rate. Several hypothesis tests showed that the IPO pricing model with adjusted variables has good statistical characteristics; it also has better applicability in the empirical test and can optimize the existing pricing model.

关键词： pricing theory Initial Public Offerings pricing model stepwise regression method variables test

作者: DUAN Junfang XU Juanjuan

作者单位: Management College, Donghua University, Shanghai No.1882, West Yanan Road, Shanghai, China, 200051

会议类型: 国际会议

会议名称: The 1st International Conference on Financial Risk and Corporate Financial Management(第一届金融风险与公司财务管理国际研讨会)

会议地点: 大连

会议语种:英文

页码: 1-8

在线出版日期: 2009-06-29（万方平台首次上网日期，不代表论文的发表时间）