论文部分内容阅读
古谚云:退一步海阔天空,在创业板历经两年市场的洗礼之后,“退”似乎成为了长久发展的必经之路。日前,证监会亮出了推进新股发行制度改革、推出创业板退市制度和再融资制度、打击内幕交易、提高信息披露质量等六张底牌。在证监会推出的六大举措中,推进新股发行制度改革、推出创业板退市制度最惹人关注,由于其动作幅度大,牵动了市场的敏感神经,引发了创业板指数的连续下跌。而从新股发行来看,创业板公司的新股发行市盈率普遍高于中小板公司。
As the saying goes, take a step back from the brighter future. After the baptism of the market for two years, the “retreat” seems to have become the only way to long-term development. Recently, the Securities and Futures Commission came up with the promotion of IPO system reform, the introduction of the GEM delisting system and refinancing system, crack down on insider trading, improve the quality of information disclosure six cards. Among the six major initiatives launched by the CSRC, the most notable concern was the promotion of the reform of the IPO system and the introduction of the delisting system of the GEM, which, due to its large range of actions, affected the market’s sensitive nerves and triggered a continuous decline in the GEM index. From the issue of new shares point of view, GEM IPO price-earnings ratio is generally higher than the small board company.