中国资本市场引入卖权的IPO机制研究

In general amongst the IPO's of the companies sampled between 2007 and 2010 the price of Chinese stocks ends up lower than their IPO price. This indicates an infringement of important shareholder interests and is a reason for the depression and slow growth of the Chinese stock markets. In order to protect shareholder interests it appears increasingly necessary to strengthen corporate responsibility, properly develop securities markets, and to introduce put options into capital markets. This essay will expand upon the necessity of introducing put options into Chinese capital markets, and conduct a detailed analysis of the relationship between the option holder and the obligor. This essay will also examine the time limits and the pricing of put option. Additionally this essay will delve into the differing kinds of put options and suggest which ones would be most suitable for the Chinese market and their implementation.