initial public offering-ipo(initial public offering)co.,ltd.** the investment banking and other comm**sioned the first public agency in the stock market shares for sale to the general beh**ior of investors.ipo activity in the stock market to **sue occupies an important position,it ** the d**tribution market(primary market)and the trading market(secondary market)of the link.however,regardless of the asia-pacific region or latin american countries,even in highly developed capital markets of europe and the united states,empirical studies show that the initial public offering of the course there are different levels of underpricing phenomenon.th** phenomenon in china's a-share market ipo ** significant,especially in **all and medium-sized plate.new premium level of the first day of **sue,also known as ipo underpricing(initial public offering under-pricing),refers to an initial public offering of stock in the first day of trading after the closing price much higher than the **sue price of the situation.so far,the ipo underpricing academia continues to haunt the financial problems,the economics and financial experts on the ipo underpricing h**e been put in a lot of study on the **sue of energy. in th** **,theoretical analys** on the bas** of an empirical study of china's **all and medium-sized plate shenzhen stock market underpricing of the actual situation.china's securities market through the collection of secondary market for 2006-2008 shenzhen **all and medium-sized l**ted companies with ipo board data,the total samples were selected and the annual independent samples collected over the same period of the main board l**ted company ipo data,compared with the **all and medium-sized plates ipo in the bear market and bull market of the underpricing of the empirical analys** of the situation to do.finally,the causes of ipo underpricing analys**,and gives a number of points to resolve the **sue of underpricing of countermeasures and proposals.展开