针对新股首发市盈率高及其在二级市场初期暴涨而后暴跌的现象，本文运用系统结构分析方法对我国的新股发行体系下所形成的新股发行交易的相互关系进行研究。
The phenomenon that stocks in IPOs trade with high PE ratio and that their price rise at the beginning then slump in the secondary stock market has aroused great attention.
最后，在分析原因的基础上提出了一些有利于提高我国首发新股效率的政策建议。
At last, based on analyzing the reasons, we suggest some measures to improve the efficiency of Chinese IPO market.
最后，在分析原因的基础上提出了一些有利于提高我国首发新股效率的政策建议。
At last, based on analyzing the reasons, we suggest some measures to improve the efficiency of Chinese IPO market.
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