Analysis of the influencing factors of IPO break under the background of registration system Reform: Evidence from China

This article mainly uses data from October 2009 to September 2022 of the gem board as research samples. Through empirical analysis explore implementation registration system’s influence on IPO first-day break probability, at same time, will appear market after former sentiment, listing and other indicators introducing model studies factors effect mechanism. The results show that system can significantly improve probability breaking first day listing. winning rate is positively correlated with turnover negatively has a mediating impact break.