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政治关系与民营企业的首次公开发行市场准入
引用本文:胡旭阳,刘安超.政治关系与民营企业的首次公开发行市场准入[J].财经论丛,2011(4):62-68.
作者姓名:胡旭阳  刘安超
作者单位:浙江财经学院金融学院,浙江杭州,310018
基金项目:国家社会科学基金资助项目(10BJY015)
摘    要:本文对中国转轨背景下民营企业的政治关系与民营企业的首次公开发行市场准入关系进行了实证分析,实证研究结果发现:在股票发行核准制下,一方面,第一大股东的所有权属性对拟发行人是否通过发行审核没有显著影响,我国资本市场准入的"所有制歧视"有所缓解;另一方面,民营企业的政治关系影响民营企业首次公开发行市场的准入,具有政治关系的拟发行人更可能通过股票发行审核。

关 键 词:首次公开发行  政治关系  民营企业

Political Connection and the Entrance of Private Firms to IPOs Market
HU Xu-yang,LIU An-chao.Political Connection and the Entrance of Private Firms to IPOs Market[J].Collected Essays On Finance and Economics,2011(4):62-68.
Authors:HU Xu-yang  LIU An-chao
Institution:HU Xu-yang,LIU An-chao(School of Finance,Zhejiang University of Finance and Economics,Hangzhou 310018,China)
Abstract:Based on the empirical study on the factors that have effect on whether the issuance application of issuers is approved or not by the Issuance Examination and Verification Commission,the paper makes an empirical analysis on the relationship between political connection and the entrance to IPOs market by private firms,and finds out,on one hand,private issuers have the same opportunities to entre the IPO market as the stated-owned issuers;on the other hand,political connection increases the possibility for pr...
Keywords:initial public offerings  political connection  private firm  
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