我国上市公司融资偏好成因探析

The Cause of Formation of Financing Preference of Listed Companies

上市公司通过资本市场进行融资是实现其快速扩张的必然选择。目前我国上市公司明显偏向于股权融资,这与传统的融资顺序偏好理论相悖。文章分析了股权融资偏好的表现和弊端,从融资成本、资本市场、公司治理和政策方面分析了我国上市公司股权融资偏好的原因并提出了相应的对策。

It is the inevitable choice for listed companies to realize the rapid expansion by capital market financing.Obviously the listed companies in China are in favour of equity financing,which is against with the traditional financing order preference theory.this paper analyzes the performance an disadvantages of the financing perference,analyzes the reasons of the equity financing preference oflisted company and puts forward the countermeasures.