The possible innovations of this paper are mainly based on the following two points: first, this paper distinguishes the differences between the registration system of the issuance pricing mechanism of the Technology innovation board and the audit system of the main board on the theoretical level, which makes detailed planning. Secondly, this paper uses the principal component analysis method to make a quantitative research on the closing price of the stock market in the second trading day, the second trading week and the second trading month of the Technology innovation board for the first time, combined with the 13 selected correlation factors. Through the empirical analysis, an important conclusion is drawn that intangible assets are an important factor affecting the stock price of the science and technology innovation board, hoping to provide help for policy makers in stock pricing and investors in investment. Finally, this paper puts forward six development suggestions based on the issuance mechanism of science and technology innovation board, which are to construct a differential portfolio system, promote institutional innovation and reform, adhere to the market policy integration, improve the information disclosure system, improve the appropriateness of investment and financing, and increase policy support, so as to make a modest contribution to the reform of China's deep capital market.

Download Full Text