会计信息与IPO发行价格的价值相关性分析
Analysis on the Value Reference between the Accounting Information and the IPO Price
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摘要: 伴随着我国市场经济的发展, 我国资本市场尤其是股票一级市场发展迅猛, 突出表现在新股发行体制日趋完善且逐步走向市场化。通过研究发行体制改革过程中会计信息与IPO发行价格之间的关系, 验证会计信息与IPO发行价格之间具有价值相关性, 同时随着市场化改革的推进, 会计信息对IPO发行价格的解释力度不断增强。Abstract: With the development of China's economy, China's capital market, especially the Initial Public Offerings (IPO) system, is growing in a fast way. The issue system is gradually improved and more market-oriented. This paper intends to focus on the relation between the accounting information and the IPO price, and verify the value relevance is exist. Meanwhile the market-oriented reform promotes the relevance.