{"id":16144,"date":"2023-11-23T10:00:13","date_gmt":"2023-11-23T02:00:13","guid":{"rendered":"https:\/\/www.bschool.cuhk.edu.hk\/chi\/?p=16144"},"modified":"2025-11-04T18:24:45","modified_gmt":"2025-11-04T10:24:45","slug":"does-guanxi-affect-the-ipo-process-in-china-2","status":"publish","type":"post","link":"https:\/\/www.bschool.cuhk.edu.hk\/chi\/zh-hans\/does-guanxi-affect-the-ipo-process-in-china-2\/","title":{"rendered":"\u201c\u5173\u7cfb\u201d\u662f\u5426\u5f71\u54cd\u4e2d\u56fd\u7684IPO\u8fdb\u7a0b\uff1f"},"content":{"rendered":"<p>\u4e2d\u56fd\u5f3a\u52b2\u7684IPO\u5e02\u573a\u8fd1\u5e74\u6765\u5b9e\u73b0\u4e86\u5de8\u5927\u7684\u589e\u957f\u30022008\u5e74\u81f32021\u5e74\u671f\u95f4\uff0c\u4e2d\u56fd\u7684IPO\u4ea4\u6613\u6570\u91cf\u5728\u5168\u7403IPO\u5e02\u573a\u4e2d\u5904\u4e8e<a 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class=\"wp-caption-text\">\u7814\u7a76\u53d1\u73b0\uff0c\u201c\u5173\u7cfb\u201d\u589e\u52a0\u4e86\u94f6\u884c\u5bb6\u548c\u5ba1\u8ba1\u5e08\u53c2\u4e0e\u540c\u4e00\u7b14IPO\u4ea4\u6613\u7684\u53ef\u80fd\u6027\u3002<\/figcaption><\/figure>\n<p>\u6211\u4eec\u53d1\u73b0\uff0c\u201c\u5173\u7cfb\u201d\u589e\u52a0\u4e86\u94f6\u884c\u5bb6\u548c\u5ba1\u8ba1\u5e08\u53c2\u4e0e\u540c\u4e00\u7b14IPO\u4ea4\u6613\u7684\u53ef\u80fd\u6027\u3002\u8fd9\u79cd\u53c2\u4e0e\u4f1a\u7834\u574fIPO\u5ba1\u8ba1\u54c1\u8d28\u548cIPO\u6295\u8d44\u8005\u7684\u5229\u76ca\u3002\u6b63\u5982\u6211\u4eec\u7684\u7814\u7a76\u6240\u663e\u793a\uff0c\u4e0e\u94f6\u884c\u5bb6\u6709\u793e\u4ea4\u5173\u7cfb\u7684\u5ba1\u8ba1\u5e08\u6240\u5ba1\u6838\u7684\u6536\u76ca\u4f1a\u8f6c\u5316\u4e3a\u8f83\u4f4e\u7684\u80a1\u4ef7\uff0c\u8fd9\u610f\u5473\u7740\u516c\u5f00\u5e02\u573a\u8ba4\u4e3a\u8fd9\u4e9b\u6536\u76ca\u7684\u53ef\u4fe1\u5ea6\u8f83\u4f4e\u3002\u6b64\u5916\uff0c\u94f6\u884c\u5bb6\u4e0e\u5ba1\u8ba1\u5e08\u7684\u5173\u7cfb\u4e0eIPO\u516c\u53f8\u4e0a\u5e02\u540e\u65e9\u671f\u66f4\u9891\u7e41\u7684\u9519\u8bef\u9648\u8ff0\u6709\u5173\u3002\u6211\u4eec\u8fd8\u53d1\u73b0\uff0c\u96c7\u7528\u6709\u5173\u7cfb\u7684\u94f6\u884c\u5bb6\u548c\u5ba1\u8ba1\u5e08\u7684\u516c\u53f8\u5728\u4e0a\u5e02\u540e\u957f\u8fdc\u7684\u8868\u73b0\u5f80\u5f80\u4e0d\u4f73\u3002<\/p>\n<p>\u7136\u800c\uff0c\u201c\u5173\u7cfb\u201d\u5bf9\u5ba1\u8ba1\u5e08\u662f\u6709\u5229\u7684\u3002\u6211\u4eec\u7684\u7814\u7a76\u6307\u51fa\uff0c\u5ba1\u8ba1\u5e08\u901a\u8fc7\u4ed6\u4eec\u4e0e\u94f6\u884c\u5bb6\u7684\u793e\u4ea4\u5173\u7cfb\uff0c\u53ef\u4ee5\u83b7\u5f97\u66f4\u9ad8\u7684\u989d\u5916\u8d39\u7528\uff0c\u5e76\u53ef\u80fd\u968f\u540e\u4ece\u6709\u5173\u7cfb\u7684\u6295\u8d44\u94f6\u884c\u4e2d\u5f97\u5230\u66f4\u591a\u7684IPO\u5ba1\u8ba1\u4e1a\u52a1\u3002<\/p>\n<p>\u603b\u800c\u8a00\u4e4b\uff0c\u94f6\u884c\u5bb6\u548c\u5ba1\u8ba1\u5e08\u4e4b\u95f4\u7684\u201c\u5173\u7cfb\u201d\u4f1a\u5f71\u54cd\u5230IPO\u8fc7\u7a0b\u3001\u5bfc\u81f4\u5ba1\u8ba1\u8fc7\u7a0b\u4e0d\u4e25\u8c28\uff0c\u4ee5\u53ca\u7834\u574f\u5ba1\u8ba1\u5e08\u7684\u72ec\u7acb\u6027\u3002\u6700\u7ec8\uff0c\u6295\u8d44\u8005\u53ef\u80fd\u56e0\u4e3a\u88ab\u5938\u5927\u7684\u6536\u76ca\u62a5\u544a\u6240\u8bef\u5bfc\uff0c\u800c\u8981\u4ed8\u51fa\u6c89\u91cd\u7684\u4ee3\u4ef7\uff0c\u626d\u66f2\u7684\u4fe1\u606f\u4e5f\u4f1a\u963b\u788d\u8d44\u672c\u88ab\u6295\u5165\u5230\u6700\u6709\u5229\u7684\u7528\u9014\u5f53\u4e2d\u3002<\/p>\n<p>&nbsp;<\/p>\n<p><em>\u60f3\u8981\u4e86\u89e3\u66f4\u591a\u4fe1\u606f\uff0c\u8bf7\u70b9\u51fb\u4e0b\u9762\u7684\u94fe\u63a5\u9605\u8bfb\u76f8\u5173\u7ae0\u8282\uff1a<\/em><\/p>\n<p><a href=\"https:\/\/www.bschool.cuhk.edu.hk\/chi\/where-guanxi-matters-the-modern-chinese-financial-sector\/\"><strong>\u5f15\u8a00\uff1a<\/strong><strong>\u4e3e\u8db3\u8f7b\u91cd\u7684 \u201c\u5173\u7cfb\u201d\uff1a\u4e2d\u56fd\u73b0\u4ee3\u91d1\u878d\u4e1a<\/strong><\/a><\/p>\n<p><a href=\"https:\/\/www.bschool.cuhk.edu.hk\/chi\/zh-hans\/the-influence-of-guanxi-on-the-fund-manager-analyst-relationship\/\"><strong>\u7b2c\u4e00\u90e8\u5206\uff1a\u201c\u5173\u7cfb\u201d\u5982\u4f55\u5f71\u54cd\u57fa\u91d1\u7ecf\u7406\u548c\u5206\u6790\u5e08\u4e4b\u95f4\u7684\u4e92\u52a8 <\/strong><\/a><\/p>\n<p><strong>\u7b2c\u4e8c\u90e8\u5206\uff1a\u201c\u5173\u7cfb\u201d\u662f\u5426\u5f71\u54cd\u4e2d\u56fd\u7684IPO\u8fdb\u7a0b\uff1f<\/strong><\/p>\n<p><a href=\"https:\/\/www.bschool.cuhk.edu.hk\/chi\/guanxi-and-auditing\/\"><strong>\u7b2c\u4e09\u90e8\u5206\uff1a\u201c\u5173\u7cfb\u201d\u4e0e\u5ba1\u8ba1<\/strong><\/a><\/p>\n<p><a href=\"https:\/\/www.bschool.cuhk.edu.hk\/chi\/can-guanxi-help-analysts-to-uncover-bad-news\/\"><strong>\u7b2c\u56db\u90e8\u5206\uff1a\u201c\u5173\u7cfb\u201d<\/strong><strong>\u80fd\u5e2e\u52a9\u5206\u6790\u5e08\u53d1\u73b0\u574f\u6d88\u606f\u5417\uff1f<\/strong><\/a><\/p>\n<p><a href=\"https:\/\/www.bschool.cuhk.edu.hk\/chi\/how-to-counter-negative-effects-of-guanxi-ties-in-financial-sector\/\"><strong>\u603b\u7ed3\uff1a\u5982\u4f55\u5e94\u5bf9\u91d1\u878d\u4e1a\u4e2d\u201c\u5173\u7cfb\u201d\u7684\u8d1f\u9762\u6548\u5e94\uff1f<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.bschool.cuhk.edu.hk\/chi\/zh-hans\/category\/research-whitepapers-sc\/\" target=\"_blank\" rel=\"noopener\"><button class=\"button\"><strong>\u9605\u8bfb\u66f4\u591a\u767d\u76ae\u4e66<\/strong><\/button><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4e2d\u56fd\u5f3a\u52b2\u7684IPO\u5e02\u573a\u8fd1\u5e74\u6765\u5b9e\u73b0\u4e86\u5de8\u5927\u7684\u589e\u957f\u30022008\u5e74\u81f32021\u5e74\u671f\u95f4\uff0c\u4e2d\u56fd\u7684IPO\u4ea4\u6613\u6570\u91cf\u5728\u5168\u7403IPO\u5e02\u573a\u4e2d\u5904\u4e8e\u9886\u5148\u5730\u4f4d\u3002\u622a\u81f32021\u5e74\u5e95\uff0c\u8d85\u8fc74,500\u5bb6\u4e2d\u56fd\u516c\u53f8\u5df2\u7ecf\u4e0a\u5e02\u30022022\u5e74\uff0c\u4e2d\u56fd\u7684IPO\u7b79\u8d44\u989d\u66f4\u8d85\u8fc7\u4e86\u7f8e\u56fd\uff0c\u6210\u4e3a\u4e16\u754c\u7b2c\u4e00\u3002 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