【摘要】：上市公司可以通過公開發(fā)行股票募集資金來解決公司融資困難的問題，將資金投向有利于公司發(fā)展的高收益項(xiàng)目，以提高公司的市場競爭力。中小投資者通過作為投融資平臺的資本市場將資金提供給融資者使用，，最關(guān)心的莫過于自己的資金是如何被使用的。我國創(chuàng)業(yè)板啟動以來，超募現(xiàn)象非常普遍，與此同時(shí)，許多上市公司在資金使用過程中存在隨意變更募集資金投向、揮霍募集資金等問題。中小投資者的利益不可避免的遭受到侵犯，上市公司募集資金的管理和使用情況備受關(guān)注。因此，本文以中小投資者保護(hù)為視角研究案例公司募集資金使用過程中產(chǎn)生的問題，分析其成因，進(jìn)而提出改進(jìn)措施，對規(guī)范案例公司募集資金的使用、維護(hù)中小投資者利益具有重要意義。 本文以中科電氣股份有限公司為案例對象。首先，文章對公司的基本情況和上市募資的動機(jī)進(jìn)行了介紹。然后，詳細(xì)總結(jié)了公司總體募資情況及募集資金使用狀況；結(jié)合公司的經(jīng)營情況、并購企業(yè)盈利狀況及研發(fā)現(xiàn)狀對公司募資資金使用成效進(jìn)行了分析；通過對案例公司實(shí)地調(diào)查和資料分析的方式，提出其存在變更募集資金投向、募集資金使用不合規(guī)、永久補(bǔ)充流動資金用途模糊、超募資金閑置的問題。最后，在全面了解問題成因的基礎(chǔ)上，結(jié)合公司的實(shí)際情況，構(gòu)想了針對具體問題的改進(jìn)措施。文章旨在提供全面、具體、可行的募集資金使用改進(jìn)措施，以期對完善案例公司和同類企業(yè)的募集資金管理和使用有所幫助。
[Abstract]:Listed companies can solve the problem of financing difficulties by raising funds through the public offering of shares, and invest their funds in high-yield projects which are beneficial to the development of the company, in order to improve the market competitiveness of the companies. Small and medium-sized investors provide funds to financiers through the capital market, which is a platform for investment and financing. Nothing is more concerned about how their own funds are used. Since the start of gem in China, the phenomenon of over-raising is very common. At the same time, many listed companies have some problems in the process of using capital, such as changing the investment of fund raising, squandering the fund raising and so on. The interests of small and medium-sized investors are inevitably infringed, and the management and use of funds raised by listed companies have attracted much attention. Therefore, from the angle of protection of small and medium-sized investors, this paper studies the problems in the process of raising funds of case companies, analyzes their causes, and then puts forward some improvement measures to regulate the use of funds raised by case companies. It is of great significance to safeguard the interests of small and medium-sized investors. This article takes Zhongke Electric Co., Ltd as the case object. First of all, the article introduces the basic situation of the company and the motivation to raise funds on the market. Then, it summarizes the overall fund-raising situation and the use of the fund in detail, and analyzes the effectiveness of the fund-raising fund using in combination with the operating situation of the company, the profit status of the M & A enterprises and the current situation of R & D; Through on-the-spot investigation and data analysis of case companies, it is pointed out that there are problems such as changing the investment of raising funds, irregular use of raising funds, vague use of permanent replenishment liquidity, and idle over-raising of funds. Finally, on the basis of a comprehensive understanding of the causes of the problem, combined with the actual situation of the company, the improvement measures for specific problems are conceived. The purpose of this paper is to provide comprehensive, specific and feasible measures to improve the use of fund raising in order to improve the management and use of fund raising in case companies and similar enterprises.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F275;F832.51;F426.6

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