| Summary: | 碩士 === 亞洲大學 === 財務金融學系 === 103 === In recent years, Taiwan stock market has been growing very rapidly, and the number of listed companies has risen from 584 in 2001 to 854 in 2014 with a nearly 32% increase and the problem of IPO underpricing. Therefore, this research will discusses the impact of factors like underpricing, market return, stock trading volumes, revenue, company’s scale and risk on the length of IPO underpricing periods, and samples for this research are companies that are listed on Taiwan Stock Exchange or over-the-counter distribution center for the first time, excluding listed over-the-counter samples, over-the-counter listed samples or Taiwan depository receipt. The research is from January 1, 2001 to December 31, 2014, and it can be found from empirical results that as underpricing becomes greater, trading volume on the stock market becomes larger with higher revenue and longer underpricing period. As for return rate of the market, it does not have obvious influence on the duration of underpricing. However, duration of underpricing will be shortened for enterprises with larger scale and higher risk.
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