浅析我国上市公司融资行为的异化

A brief discussion on the preference of stock financing of China's listed companies

近年来,我国上市公司内部融资比例很低,外部融资占绝对优势,其中股权融资的比例远远高于举债融资的比例,这与发达国家上市公司的融资顺序截然不同。我国上市公司融资行为的这种异化,对资本使用效率、投资者积极性以及公司治理结构等产生了极大的负面效应,本文就此进行了原因剖析,并提出了弱化上市公司股权融资行为的政策建议。

In recent years,China's listed companies generally have extreme stock financing preferences,which have caused a great deal of adverse effects on the development of these companies themselves and capital market.In order to correct the unreasonable stock financing preferences,we should take some effective measures.