| 投资效率和股权结构——基于上市公司股权再融资角度 |
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| 引用本文： | 钟宜彬.投资效率和股权结构——基于上市公司股权再融资角度[J].工业技术经济,2011,30(10). |
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| 作者姓名： | 钟宜彬 |
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| 作者单位： | 南京审计学院,南京,211815 |
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| 摘 要： | 文章从上市公司股权再融资角度研究投资效率问题,发现上市公司中同时存在投资不足和投资过度问题,既有投资过度的上市公司进行股权再融资,也存在上市公司再融资后投资不足现象;股权再融资加剧投资过度问题、部分缓解投资不足问题。文章同时发现股权结构影响投资效率,融资前后地方国有企业投资过度问题严重,缺少股权制衡的公司以及直接控制权和实际控制权不一致的公司投资过度问题严重,高管持股有利于降低投资过度。
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| 关 键 词： | 投资效率 股权结构 股权再融资 |
Investment Efficiency and Ownership Structure——Based on Listed Companies' Seasoned Equity Offerings |
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| Zhong Yibin.Investment Efficiency and Ownership Structure——Based on Listed Companies' Seasoned Equity Offerings[J].Industrial Technology & Economy,2011,30(10). |
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| Authors: | Zhong Yibin |
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| Institution: | Zhong Yibin(Nanjing Audit University,Nanjing 211815,China) |
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| Abstract: | The article study investment efficiency from view of listed companies seasoned equity offerings.The paper find out that overinvestment and underinvestment exist simultaneously on listed companies,It is exist that listed companies of overinvestment make seasoned equity offerings and listed companies underinvested after seasoned equity offerings.Overinvestment grew and underinvestment achieved partial relief after seasoned equity offerings.At the same time The paper find out that ownership structure influence... |
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| Keywords: | investment efficiency ownership structure seasoned equity offerings |
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