我国上市公司股权融资偏好的成因及对策

The Origin Cause and Countermeasure for the Partiality in Stock Right Financing of Listed Company in our Country

股权偏好受融资成本的影响,债券市场不健全以及上市公司法人治理结构的缺陷,导致政策导向引发不良股权融资热。单纯的股权融资偏好,其负面效应是不容忽视。资金使用效率低下,不仅不利于公司的成长,而且影响股市的健康发展。要改善融资结构,建立企业内部积累机制,大力发展债券市场与支持债券融资,以制度创新完善市场规则。

Stock right is effected by the cost of financing, bond market imperfect and structure defect of listed company of corporate governance, cause the policy guidance lead to the bad stock financing upsurge. The negative effect of simple stock financing can＇t be ignored. The service efficiency of the fund is low, not only unfavorable to the growth of the company but also bad for the healthy development of the stock market. To improve the financing structure, We should set up the accumulating mechanism of inside enterprises, develop the bond market and support bond financing in a more cost-effective manner, perfect the market rule with system innovation.