“绿鞋”机制在中国IPO市场的应用研究--以农业银行IPO为例 .doc

摘要:作为中国最后一家上市的国有大银行，中国农业银行可谓吊足了市场胃口，从成立到正式上市，近六十年的艰辛探索，让这家几经挫折、几经改革的国有专业银行终于步入股份制商业银行行列。作为国有银行股份制改革的收官之作，农行IPO迄今为止仍让众多投资者津津乐道，究其原因，不出其二：一是农行IPO的重要意义，被视作“中国多年来银行改革过程中的一块里程碑”，农行IPO肩负的不仅是自身发展的使命同时也肩挑国家银行业改革的重担，承前启后，农行IPO意义深远；二是农行此次IPO对资本市场的影响以及农行IPO所采用“绿鞋”机制对中国大型企业IPO之路的启迪。如今当人们以平静的心态去回顾农行的IPO之路，再不是农行上市首日表现不佳的嘘声，也不是农行“破发”后的笑声，而是重新思考，中国银行业改革之路的艰辛和“绿鞋”机制及关联机制在中国IPO市场的应用探索。本文将从这一角度出发，再次聚焦农行IPO，探讨其事件和IPO机制的应用。

关键词: 中国农业银行，IPO，“绿鞋”机制，应用研究

Abstract:As the last one listed in China's large state-owned banks, the Agricultural Bank of China can be said to tempt the market appetite, from inception to the official listing of nearly sixty years of painstaking exploration of several setbacks, several reform of state-owned specialized banks, and finally entered a joint-stock commercialBank ranks. As a wrap up of joint-stock reform of state-owned banks, Agricultural Bank of China IPO so far still many investors talked about, reason, not the second: First, the significance of the Agricultural Bank of China IPO, be regarded as "China for many years a milestone "in the process of banking reform, the Agricultural Bank of China IPO shoulder the mission of their own development but also face it the burden of the national banking reform, past and ABC IPO is far-reaching; ABC of the IPO on the capital market impact of ABC IPO is the inspiration of the "green shoe" mechanism on the road of China's large enterprises IPO. Now when the peace of mind to review ABC's IPO road, then ABC is not listed on the first day of the poor performance of boos, nor is it ABC "break" after the laughter, but to rethink the China Banking the hardships of the road to reform and "green shoe" mechanism and the associated mechanisms in the Chinese IPO market enlightenment. This article from this perspective, once again focused the Agricultural Bank of China IPO to explore the events and the application of the IPO mechanism.

Key Words：Agricultural Bank of China IPO, mechanisms, Applied Research