累计投标询价

以累计投标询价制定价过程为例，探讨投资者私人信息的机制，并针对我国IPO询价制如何激励询价对象诚实揭示信息提出建议。

Mechanism of investor ' personal information is discussed in pricing process of accumulating bid inquire price and some advice of inquiring price ' object honest posting information is also advised in IPO inquire price mechanism of our country .

累计投标询价：在发行中，根据不同价格下投资者认购意愿确定发行价格的一种方法。

Accumulative bidding inquiring price means that investors intend to confirm the issuing price subject to different prices .

顺应国际潮流，积极创造累计投标询价方法发挥优势所需要的配套机制。

Adopting to the global trend and create necessary mechanisms needed to make better use of book-building method .

本次发行价格通过在询价区间内向配售对象累计投标询价确定。

The price of this offering is fixed through accumulated bidding enquiry to the allotment subjects within the range of enquiry .

本文认为：固定价格公开发售方法在信息收集和价格发现方面逊于拍卖法和累计投标询价法，但是在累计投标询价法与拍卖方法究竟孰优孰劣这一问题上仍然存在争议；

This paper suggests that the fixed price method is inferior to the auction method and book-building mechanism in terms of information soliciting and price discovering , but there is still some discrepancy on whether auction is better than book-building or vice versa ;