A Research on IPO Pricing Model with Adjusted Variables and Its Emoirical Study
This paper applies the analysis framework of multi factor 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 show 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.
Pricing theory Initial Public Offerings pricing model Stepwise regression method Variables Test
Jun-fang DUAN Juan-juan XU
Management College,Donghua University,Shanghai,P.R.C.
国际会议
The Second China Private Economy Innovation International Forum(第二届中国民营经济创新国际论坛)
浙江台州
英文
728-733
2009-08-21（万方平台首次上网日期，不代表论文的发表时间）