我国上市公司的再融资行为分析

An Analysis on Refinancing of Listed Companies

我国上市公司目前的再融资方式主要有配股、增发和发行可转换债券。这三种融资方式均有各自的适用范围和条件。针对目前上市公司存在的诸多非理性融资行为 ,监管部门应纠正上市公司股权再融资的偏好 ,加强对上市公司股权再融资的监管力度。上市公司应树立诚信融资理念 ,建立增发新股过程中的风险控制机制 ,并尝试综合采用多种融资方式进行组合融资。

At present, the refinancing ways of the listed companies in China chiefly include: allotment, added share issue and convertible bonds issue, which respectively have adaptable ranges and conditions. Since there is much irrational financing of listed companies, the supervisory authority should correct equity refinancing propensity and strengthen supervision of them. While the listed companies should set up the idea of honesty and reputation, establish the risk controlling mechanism in new share issue, and attempt composite financing by various ways.