In this paper, we study the well-posedness of the Cauchy problem and the scattering problem for a new nonlinear dispersive shallow water wave equation (the so-called DGH equation) which was derived by Dullin, Gottwald and Holm. The issue of passing to the limit as the dispersive parameter tends to zero for the solution of the DGH equation is investigated, and the convergence of solutions to the DGH equation as α2→0 is studied, and the scattering data of the scattering problem for the equation can be explicitly expressed; the new exact peaked solitary wave solutions are obtained in the DGH equation. After giving the condition of existing peakon in the DGH equation, it turns out to be nonlinearly stable for the peakon in the DGH equation.