發(fā)布時(shí)間：2018-04-26 16:19

  本文選題：首次公開發(fā)行 + 募集資金��； 參考：《華東師范大學(xué)》2014年碩士論文

【摘要】：近年來,大量企業(yè)在我國證券市場(chǎng)通過IPO上市股權(quán)融資,但隨著企業(yè)IPO成功上市之后,緊接而來的是有一部分上市公司并未如約將IPO募集資金投資到招股說明書計(jì)劃的項(xiàng)目中,而是改變募集資金的投資方向,從而出現(xiàn)了一系列的問題。 本文在此背景下,總結(jié)與回顧了國內(nèi)外已有文獻(xiàn)的基礎(chǔ)上,選擇2010-2012年A股主板市場(chǎng)IPO募集資金變更的上市公司為樣本,運(yùn)用EXCEL和MATLAB統(tǒng)計(jì)軟件對(duì)數(shù)據(jù)進(jìn)行處理、描述性分析及線性擬合,并以此對(duì)IPO募集資金投向變更的原因及帶來的影響進(jìn)行討論研究。 本文共分為六章：第一章緒論主要介紹本文的研究背景與研究?jī)?nèi)容。第二章是文獻(xiàn)綜述,首先介紹國內(nèi)外學(xué)者與IPO募集資金使用的相關(guān)文獻(xiàn),然后分別介紹與IPO募集資金投向變更的原因和影響兩方面內(nèi)容相關(guān)的文獻(xiàn),使讀者對(duì)目前已有的相關(guān)研究?jī)?nèi)容有大致了解。第三章是描述性統(tǒng)計(jì),先對(duì)整個(gè)IPO市場(chǎng)及變更情況的現(xiàn)狀與歷史數(shù)據(jù)進(jìn)行總體統(tǒng)計(jì),然后選取2010-2012年A股主板市場(chǎng)IPO募集資金投向變更的公司為樣本,從變更公司的行業(yè)分布、變更的頻率以及變更的類型與資金去向三個(gè)方面進(jìn)行統(tǒng)計(jì)描述性分析。第四章則詳細(xì)討論IPO募集資金投向變更的原因,將變更原因分為外部原因與內(nèi)部原因來討論,并承接上一章內(nèi)容,以樣本中的實(shí)例具體情況來分析變更原因。第五章則根據(jù)統(tǒng)計(jì)數(shù)據(jù)利用各種圖表并建立線性回歸模型來研究IPO募集資金投向變更對(duì)公司股價(jià)波動(dòng)及公司經(jīng)營業(yè)績(jī)的影響。結(jié)果表明IPO募集資金投向變更對(duì)股價(jià)波動(dòng)沒有影響,而在短期內(nèi)會(huì)影響使得公司經(jīng)營業(yè)績(jī)變差。最后一章則給出本文的研究結(jié)論,并對(duì)如何改善IPO募集資金投向變更情況提出一些建議。
[Abstract]:In recent years, a large number of enterprises in China's securities market through the IPO listed equity financing, but with the successful listing of IPO, there are a number of listed companies have not been the contract to raise funds to invest in the prospectus of the IPO project. Instead of changing the direction of investment in raising funds, a series of problems arose. Under this background, based on the summary and review of the domestic and foreign literature, this paper selects the listed companies which have changed the IPO financing in the A share main Board market from 2010 to 2012 as samples, and uses EXCEL and MATLAB statistical software to process the data. Descriptive analysis and linear fitting are used to study the causes and effects of the change of IPO funding. This paper is divided into six chapters: the first chapter mainly introduces the research background and research content. The second chapter is the literature review, first introduces the domestic and foreign scholars and the IPO raise the fund use related literature, then separately introduces the IPO raise the fund investment to change the reason and the influence two aspects content related literature. So that readers have a general understanding of the existing research content. The third chapter is descriptive statistics. Firstly, the present situation and historical data of the whole IPO market and its changes are analyzed. Then, the capital raised by IPO in the A-share main Board market from 2010 to 2012 is selected as a sample, and the industry distribution of the changing companies is taken as the sample. The frequency of change, the type of change and the direction of capital are analyzed statistically and descriptive. The fourth chapter discusses the reasons of the change of IPO financing in detail, divides the reasons of change into external and internal reasons, and carries on the content of the previous chapter, and analyzes the reasons of the change with examples in the sample. The fifth chapter uses various charts and establishes linear regression model according to statistical data to study the influence of the change of IPO financing on the stock price fluctuation and the operating performance of the company. The results show that the change in the investment of IPO does not affect the volatility of stock price, but in the short term, it will make the company's operating performance worse. In the last chapter, the conclusion of this paper is given, and some suggestions on how to improve the change of IPO financing investment are put forward.
【學(xué)位授予單位】：華東師范大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.51;F275

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本文編號(hào)：1806758