| 我国定向增发市场的效应及实证研究 |
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| 引用本文： | 刘超.我国定向增发市场的效应及实证研究[J].济南金融,2014(6):67-71. |
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| 作者姓名： | 刘超 |
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| 作者单位： | [1]中国工商银行,北京100140; [2]北京大学,北京100871 |
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| 摘 要： | 本文详细介绍了中国定向增发市场的发展历史,定义了定向增发市场的四种效应——年关效应、牛市效应、负债效应、政策效应,认为定向增发受市场环境、时间周期、经营状况和政策倾向等因素影响。通过研究这些效应的形成原因,提出了适度放宽发行底价、加强对高折价定向增发项目的监管等建设性意见。
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| 关 键 词： | 上市公司 定向增发 效应 实证研究 |
Effect and Empirical Study of the Private Placement Market in China |
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| Liu Chao.Effect and Empirical Study of the Private Placement Market in China[J].Jinan Finance,2014(6):67-71. |
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| Authors: | Liu Chao |
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| Institution: | Liu Chao( 1.Quantitative Investment Division of Asset Management Department of ICBC, Beijing 100140; 2.School of Mathematics Science of Peking University, Beijing 100871 ) |
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| Abstract: | Through presenting the development of China＇s private placement market,this paper provides detailed and exact data of private placement.This paper first finds and defines the four effects of private placement market,namely,the December effect,bull-market effect,liability effect,policy effect,and the private placement is affected by the factors such as market environment,cycle time, operating conditions and policy orientation. Through the research on the causes of these effects,this paper provides constructive suggestions for China＇s private placement market. |
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| Keywords: | listed companies private placement effects empirical study |
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