我国新股增发再融资及其监管研究

A Study on Seasoned Equity Offering and Refinancing in China and its Supervision

近期我国上市公司频频推出增发新股再融资计划,引起股市剧烈动荡。分析上市公司增发新股对每股净资产、每股收益、净资产收益率等财务指标的影响,指出上市公司增发新股的原因,应完善上市公司新股增发的约束机制。

Recently, the listed corporations in China have frequently made plans for seasoned new issue and refinancing, which aroused sharp upheaval of the stock market. An analysis is made on the impact of seasoned new issue upon such financial indicators as net asset per share, earning as per share, yield rate of net assets, etc. pointing out the reason for seasoned new issue in the listed companies, making proposals for perfecting discipline mechanism of seasoned new issue in the listed companies.