上市公司变更募集资金投向问题的再认识

Recognition on The Problem of the Alternation of Financing Capital From the Listed Companies

近年来上市公司变更募集资金投向问题日益突出 ,各方人士对其看法不一 ,但总的说来是贬多于褒。本文通过对上市公司变更募集资金投向的特点及产生原因的分析 ,在指出上市公司存在的问题的基础上 ,着眼于从其它市场参与方 (证券监管部门和投资者 )的角度对这一问题进行深入分析 。

The problem of alternation of financing capital from the listed companies has become more and more serious in recent years. Different people hold different opinions on the problem. But generally speaking, they criticized it much more than they praised it. At the beginning of the paper we analyzed the characteristics and reasons of the alternation. And then with an eye to other securities market participants (SEC and investors), we pointed out that we should have correct viewpoints on the significances of the alternation on the basis of the deep analysis of the existent problems caused by the listed companies.