查询词典 underpricing

Absorption costing usually prevents underpricing.

归纳成本法通常可避免定价过低。

As for the second conclusion, the authors explanation can be divided into two parts: on the one hand, the more self-identity that investor put on for the value of state-owned assets ,the lower risk agio the investor ask for, so the underpricing of IPO is low.

对于国有股比例与IPO抑价程度的负相关关系的解释是：一方面国有股比例所内含的政府信用的隐性担保功能降低了投资者的风险，其所要求的风险贴水也就相应降低，因此IPO抑价程度也低。

By underpricing energy, the prices of Chinese goods, which use energy as an input, are also underpriced.

由抑能源，价格的中国商品，使用能源作为一项投入，也过低。

When oversubscription happens, underwriters can reduce the level of discount and increase the bottom price by strategic allocation so that both financing cost and IPO underpricing will be less. It suggests that financial supervisor should allow underwriter to allocate IPO stocks freely to a certain extent in China.3. If independent IPO allocation is allowed in IPO bookbuilding, the underwriter and affiliated institutional investor maybe exploit free allocation and information asymmetry to manipulate.

在发生超额认购时，承销商通过有策略地分配股票可以有效地降低折价水平并保证较高的发行底价，减少了发行成本的同时也减轻了IPO抑价程度，建议我国监管当局可以考虑在适当的时候赋予承销商一定的新股自主分配权。3、在有自主分配权的条件下也可能会发生承销商与关联机构投资者共同进行市场操纵的行为。

On the other hand, the higher price of state-owned listed company on IPO market, the smaller imaginable roomage for investor. So the underpricing of IPO is low.

另一方面IPO定价越高，留给投资者的遐想空间会越小，股票受追捧的程度就会降低，因此IPO抑价程度将会降低。

In addition, the general trend of underpricing is in line with the trend of stock market.

对这些结果进行进一步分析，本文得出可转债的价值低估程度与债券的票面利率之间不存在明显的线性关系，与债券距离到期日的时间即剩余期限之间存在显著的正相关，而与债券的转换溢价存在显著的负相关关系。

With the development of the security market, severe IPO underpricing is always a vexed question in our courtry. At the same time, a series of earnings management and financial packaging cases of public companies have been exposed, it pushes the IPO market to a very dangerous position where there is no credibility at all.

我国证券市场发展以来，IPO高抑价问题一直是困扰我国股票市场的重大难题之一，而国内证券市场中一系列上市公司盈余管理和财务包装案件的曝光，使得中国IPO市场出现了诚信危机。

Secondly,for widespread IPO underpricing under Bookbuilding issuing method and abnormal high IPO underpricing in Chinese stock market,we propose policy recommendations at two different levels.The policy recommendation for Chinese stock market is to introduce short-selling mechanism,for widespread IPO underpricing under Bookbuilding issuing method is to open when-issued market of IPO shares to improve Bookbuilding issuing method.

然后，针对累计投标询价机制下的IPO抑价现象尤其是中国股市IPO抑价畸高的现象，从两个层面提出相关政策建议：针对中国股市的政策建议是引入卖空机制；针对全球股市普遍存在的IPO抑价现象，提出的政策建议是开放IPO股票市前交易来完善累计投标询价机制。

The main contribution of this paper is to investigate the problems of IPO underpricing, overpricing and long-term underperformance systematically, with the consideration of development of issue system, short sales constraints, investor sentiment and heterogeneous belief, etc. We find, the main reason of high initial return in Chinese A-Share market is overpricing in secondary market, rather than underpricing in primary market, which is obviously different from mature capital market.

本文主要贡献在于结合A股市场&发行制度变迁&、&卖空限制&、&狂热投资者情绪&以及&异质信念&等因素，对A股IPO的一级市场抑价、二级市场溢价以及长期表现弱势进行系统研究，发现了造成中国新股高初始收益现象的根本原因在于二级市场中的&价格高估&，而不是一级市场的&价格低估&，这与成熟市场的IPO价值低估现象具有本质区别。

Adaptability Analysis of Western Relevant Theories to Chinese A Share Markets 1. Theories on IPO's underpricing The empirical results in the dissertation indicate that, among western IPO underpricing theories, Winner's Curse Hypothesis, Investment Bank Monopoly Hypothesis, Band Wagon Hypothesis, Market Climate Hypothesis, Seasoned Equity Offering Hypothesis ect.

五、影响中国A股IPO抑价率及长期收益率的因素本文用分类分组统计及回归模型分析等实证研究方法，对影响中国A股IPO抑价率及长期收益率的各种因素进行了分析，相关因素的影响情况如下表：〓六、西方IPO相关理论对中国A股市场的适应性分析 1。

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了