关于上市公司募集资金行为动机的一项调查分析

An Investigative Analysis on Motives of Listed Companies in Raising Funds

通过分析我国上市公司募集资金过程中存在的股权融资偏好、频繁变更募集资金投向、信息披露不真实等现象,并结合对东北三省上市公司的调查问卷结果,揭示了上市公司募集资金的行为动机。指出我国上市公司通过发行股票筹资改善公司的资本结构、提高公司的知名度是上市公司募集资金的动机之一,而追求少数利益集团的利益才是企业争相上市的根本动因。在此基础上,对证券监管部门给出了相应的政策建议。

By an analysis of stock right financing preference for China＇s listed companies in raising funds, their frequent change in alternation of raised funds, and their false publication of information ,the motives of listed companies in raising funds are reveled based on the questionnaire to the listed companies in three provinces in Northeastern China. It is pointed out that one of listed companies＇ motives is to issue stocks so as to improve their capital structure and increase their popularity, but their fundamental motive in issuing their stocks is to go after the interest of some minority groups. In addition, some suggestions are provided for the stock supervision department.