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优秀博硕毕业论文，完美PDF内部资料、支持编辑复制，值得参考！！！
20
VAR
VAR
Abstract
IPO (Initial Public Offerings) market is always the hot topic under consideration
through capital market. Since 1960s, all sorts of abnormal occurrence within this
market have initiated comprehensive reflect and inquisition. a considerable body of
literature have provided various theories about it . In our country, with short history of
IPO market and completely different environment, our understanding of this market is
limitedespecially the variation in IPO volume has received little attention. This
article will focus on this problem. We want to examine the relation between observed
fluctuation in IPO volume and ratio of underpricing via VAR model. Economic
variable will also be allowed to explain the cyclical behavior observed in IPO market
in the model.
The result show that trading volume is affected by IPO underpricing, but here
exist 5 months lag; also trading volume affect IPO underpricing, but you can neglect
this influence when study the problem of underpricing; trading volume have a
significant correla
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