中国上市公司再融资绩效与再融资能力问题研究

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1、西南交通大学硕士学位论文中国上市公司再融资绩效与再融资能力问题研究姓名：杜心远申请学位级别：硕士专业：产业经济学指导教师：刘朝明20071101西南交通大学硕士研究生学位论文第1I页AbstractSEO(SecondOffering)referstOalistedcompanythroughshareplacements，andtheissuanceofconvertiblebondsissuedinthestockmarketandotherwaysofdirectfinancing．Thelistedcompanies’SEOhasplayedalargerroleinpr

2、omotingthedevelopmentofChina’Slistedcompanies．SEOofChina'sstockmarketreceivesmoreandmoreattention．However,duetOvariousreasons，theSEOoflistedcompaniestherearestillsomeproblemsnottobeneglected．Thedomesticandforeignpredecessor’Sacademicachievementhasbeenreviewedandappraisedsystematicallyinthisar

3、ticle，moreover,innghtofChina'sShanghaiandShenzhenA·sharemarketdevelopmentcharacteristics，ithasbeenindicatedthattheA—sharemarketshouldbeanlalysedfromtheperspectiveofresourceallocation．Onthebasisofanalysisoftherefinancingmannerandrefinancingconditionsoflistedcompanies，ViewtheShanghaiandShenzhen

4、stockmarketsinChina，analysisofcountermeasures．Inthispaper,ImadeacleardefinitionfortheRefinancingAbilityoflistedcompanies，discussedthesignificanceoffurtherimprovetheRefinancingAbilityoflistedcompanies，analylizedmajorfactorswhichimpactontheRefinancingAbilityoflistedcompanies；Imadeacleardefiniti

5、onfortheRefinancingPerformanceoflistedcompaniesaswell，then，analylizedthesignificanceoftheRefinancingPerformanceevaluationoflistedcompanies；IanalylizedtherelationshipbetweentheRefinancingAbilityandtheRefinancingPerformanceoflistedcompanies，cametOaconclusionthatthereWasaphenomenonof”re-financin

6、gcapacitydeparturefromtherefinancingscale”inShanghaiandShenzhenA—sharemarket，andpointedoutthenecessityofempiricalanalysis；EmpiricaltheRe-financingProfitabilityandtheRefmancingAbilityofthelistedcompaniesintheChina’ScapitalmarketWasonadownwardtrendbefore2004，andrevealedtheimportanceofrelativeev

7、aluationfortheRe—financingProfitability．Inthispaper,IusetimeseriesmodeloftheA—sharemarkettotheaveragelevelmeasurementanalysis，inthelightoftheevaluationofpracticalproblemsthestockmarket，cometothePDLrefinancingPerformanceEvaluationModel，Usethea