全面注册制下对IPO定价效率的研究具有重大意义，本文基于IPO公司的发行价格、交易价格和内在价值三者之间的联系，归纳有关IPO定价效率度量方式和影响因素的文献，总结出IPO抑价率、随机前沿模型、市盈率三种IPO定价效率度量方法和信息披露程度、投资者非理性行为、制度设计、市场参与主体策略性行为四类IPO定价效率影响因素。

The research on IPO pricing efficiency under a comprehensive registration system holds significant importance. Based on the relationship between the offering price, trading price, and intrinsic value of IPO companies, this paper summarizes the literature on the measurement methods and influencing factors of IPO pricing efficiency. It concludes three measurement methods of IPO pricing efficiency: IPO underpricing rate, stochastic frontier model, and price-earnings ratio, as well as four influencing factors: the degree of information disclosure, investor irrational behavior, institutional design, and strategic behavior of market participants.