论文部分内容阅读
超额配售选择权与传统的看涨期权有着显著差异,我国法律环境的不完善制约了该机制作用的发挥。在加强相关法律法规建设的同时还应重视对该制度进行合理化改造,即在股票破发时,承销商应按市价或发行价购入股票并以此价格分配给投资者。同时应通过股指期货等措施尽量消除承销商的承销风险。
There is a significant difference between over-allotment options and traditional call options. The imperfect legal environment in China restricts the effectiveness of this mechanism. In strengthening the relevant laws and regulations, we should also attach importance to the rationalization of the system, that is, when the stock is broken, the underwriters should buy stocks at the market price or issue price and distribute them to the investors at this price. At the same time, through the stock index futures and other measures should try to eliminate underwriters underwriting risk.