中文摘要：

基于2006年之后全流通、保荐制度和放开发行市盈率管制背景下IPO上市的样本，选取了谷歌资讯数量、分析师数量和参与询价的机构数量作为投资者关注的三个代理变量，实证研究了投资者关注对IPO抑价的影响。研究发现：投资者关注对于IPO抑价具有显著的正向影响，关注度越高，IPO抑价则越高；相对于主板而言，由于受到投资者更多的关注，创业板和中小板新股具有更高的抑价。

英文摘要：

The paper selects IPO companies on the background of post-2006 full circulation, the implementation of sponsor system, and the release of IPO P/E ratio, uses number of Google news, analysts and inquiry agencies to index investor attention, and tests the effects of investor attention on IPO discount. It＇s found that investor attention does have a positive influence on IPO discount, which means the higher investor attention, the higher IPO discount. Further study finds that GEMs and SMEs exhibit a higher IPO discount for more attention from investors, compared with companies from the Main Board.