本文選題：IPO募集資金 + 募資變更��； 參考：《華南理工大學》2012年碩士論文

【摘要】：成立二十多年來，中國證券市場隨著中國改革開放的深入進一步發(fā)展壯大，成為國民經濟的重要組成部分，對國民經濟的發(fā)展起到了重要作用。證券市場在融資與資源配置方面發(fā)揮著舉足輕重的作用。自從擴容和股權分置改革以來，我國的資本市場規(guī)模已經十分龐大。資本市場的發(fā)達能有效緩解部分企業(yè)資金短缺的問題。在資本市場的發(fā)展過程中，經過不斷的完善和改革相關制度，IPO募集資金的企業(yè)數(shù)量和募集資金的規(guī)模都在迅速擴大。我們在看到成績的同時，也同時看到現(xiàn)在我國IPO募集資金的使用也存在著一些問題，，而這些問題的產生對于我們的企業(yè)和投資者以及證券市場都造成了一定的負面影響。 本文在系統(tǒng)的梳理了國內外關于募集資金投向變更研究的基礎上，運用多元回歸Logit模型，對于IPO募集資金投向變更的原因進行實證分析。 首先，本文對于國外的關于公司的融資順序、資本結構及其與公司價值的關系方面以及國內的募集資金使用的研究進行了總結和梳理。其實本文在分析了我國上市公司IPO募集資金投向變更和IPO募集資金投向變更狀況的基礎上，提出了本文的假設，并運用Logit模型對于IPO募集資金投向變更的原因進行實證分析，在實證檢驗后對模型提出了修改，得出更具有說服力的結論，我國上市公司IPO募集資金的變更與上市公司的資產負債率、公司的盈利水平、市場因素和上市公司的資產規(guī)模等原因有關。最后，探討了規(guī)范募集資金使用規(guī)范的政策建議。
[Abstract]:Since the establishment of China's securities market more than 20 years ago, with the further development of China's reform and opening up, it has become an important part of the national economy and played an important role in the development of the national economy. The securities market plays an important role in financing and resource allocation. Since the expansion and the split share structure reform, China's capital market scale has been very large. The development of capital market can effectively alleviate the problem of capital shortage in some enterprises. In the process of capital market development, the number and scale of IPO funds raised by IPOs are expanding rapidly through continuous improvement and reform. At the same time, we also see that there are some problems in the use of IPO raising funds in our country, and these problems have a certain negative impact on our enterprises and investors as well as the securities market. On the basis of systematically combing the domestic and foreign researches on the change of fund-raising investment, this paper makes an empirical analysis on the reasons of the change of IPO's fund-raising investment by using the multivariate regression Logit model. First of all, this paper summarizes and combs the research on the financing order, capital structure and the relationship between the capital structure and the value of the company, as well as the domestic use of the raised funds. In fact, based on the analysis of the change of IPO and IPO, this paper puts forward the hypothesis of this paper, and makes an empirical analysis of the reasons of the change of IPO's financing by using the Logit model. After the empirical test, the model is revised, and a more convincing conclusion is drawn: the change of IPO raised funds, the ratio of assets and liabilities of listed companies, and the profit level of listed companies in our country. Market factor and listed company's asset scale and so on reason related. Finally, the paper discusses the policy recommendations on the standard use of fund-raising funds.
【學位授予單位】：華南理工大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F832.51;F224

【引證文獻】

相關碩士學位論文 前1條

1 郝英翠;創(chuàng)業(yè)板A上市公司募集資金報告分析[D];西北農林科技大學;2013年

本文編號：1989560