【摘要】 随着中国证券市场的不断发展,理论界、实务界也开始关注关于IPO(首次公开发行)的三个异常现象:短期价格偏低现象、长期价格偏高现象和市场季节性变动现象。文章对中国IPO市场的季节性现象进行分析,得出了中国证券市场现实存在发行旺季现象的结论,并对相关的后续研究作了初步展望。更多还原

【Abstract】 With the continuous development of China’s stock market, the theoretical circles as well as people of practical affairs begin to focus their attention on these three abnormal phenomena of IPO: short period of low-price tendency, long period of high-price tendency and seasonal changes of the market. This article offers an analysis of the seasonal changes of the IPO market in China with the conclusion that there truly exists a peak period of circulation in China’s stock market. In addition it also gives an initial outline of relevant researches to be followed.更多还原