我国上市公司SEO效率研究

On Efficiency of SEO of Listed Companies in China

股权分置是一个具有中国特色的企业所有权制度,我国上市公司存在非全流通股权结构。在这种特殊的股权结构下,中国上市公司有着明显的股权融资倾向,但股权再融资的效率低下,从而会造成业绩滑坡现象,严重影响中国股市的发展。从我国上市公司再融资的现状出发,通过重点研究我国上市公司股权再融资效率问题,对SEO低效率问题进行了原因分析,并提出了相应的政策建议。

Non-tradable shares is a system of enterprise ownership with Chinese characteristics,and there is non-full circulation shareholding structure in Chinese listed companies. Under this special shareholding structure,there is obvious equity financing tendency in Chinese listed companies. However,the equity refinancing is inefficient,which results in the landslide phenomenon of performances and poses a serious impact on the development of Chinese stock market. Based on the present situation of refinancing of listed companies in China,and focusing on the efficiency of equity refinancing of Chinese listed companies,this paper analyzes the causes of low efficiency of SEO,and puts forward the corresponding policy suggestions.