股权再融资的中小上市公司比较分析

Comparable Analysis on Seasoned Equity Offering of Small-Medium Listed Company

从2004年上市的71家中小企业中,挑选了其在后续3年内进行了股权再融资的14家中小公司,对比分析了其再融资前后资产负债率的变化,并与剩余的没有进行股权再融资的中小公司的财务比率进行了比较分析,结论表明:我国上市后能在近期内进行股权再融资的中小企业,都是一些成长性很高、实力很强的中小企业;大部分中小企业即使已经上市,但发展外部股权融资的潜力仍很大.

From 71 small-medium listed companies which has being gonging public in 2004, this paper selected 14 one which has carried on seasoned equity offering in the following three years, comparatively analyzed not only debt ratio＇s change before and after having seasoned equity offering, but also financial ratio of small-medium listed companies which have carried seasoned equity offering and the rest ones which have not carried on seasoned equity offering. We could draw the conclusion that all the small-medium listed companies that can carry on seasoned equity offering in the following three years are those with higher growth and stronger strength ability. And even some small-medium enterprise has being gonging on public, but the developmental potential of their exterior equity financing is still very great.