the research of ipo inquiry system - based on institutional investors’ lack of integrity

IPOs have been issued in China formally for nine years. Although both the efficiency and marketization level have improved, it still has many shortcomings. Especially, institutional investors who often lack integrity have led to inquiry results that are not meaningful for pricing. This work studies the institutional investors’ lack of integrity and its impact on the current IPO system in China. The goal is to begin a discussion of potential problems and possibly to suggest a few solutions.