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大股东控制权与上市公司增发方式选择研究
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作者 贾钢 李婉丽 《财会通讯(下)》 2014年第6期49-52,共4页
本文采用2006年至2011年增发上市公司为样本,分析了控股股东控制权对公司选择增发方式的影响,结果表明:公开增发有助于维护控股股东的控制权优势和控制权结构稳定,而定向增发降低了控股股东的控制权优势、并减少了控股股东的现金流权与... 本文采用2006年至2011年增发上市公司为样本,分析了控股股东控制权对公司选择增发方式的影响,结果表明:公开增发有助于维护控股股东的控制权优势和控制权结构稳定,而定向增发降低了控股股东的控制权优势、并减少了控股股东的现金流权与控制权的分离度。控股股东的控制权优势越高时,公司更倾向于选择定向增发,而且控制权较小的控股股东在控制权优势越高时更可能推动公司进行定向增发。 展开更多
关键词 大股东 控制权优势 增发方式
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不对称信息下的股权再融资方式选择 被引量:8
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作者 管征 张世坤 《财经问题研究》 CSSCI 北大核心 2004年第10期27-32,共6页
上市公司进行股权再融资的方式主要有两种:增发和配股。如何对这两种方式进行合理选择一直是国内外学者研究的焦点。本文在Myers和Majluf框架模型下,运用Wu和Wang(2002)模型对上市公司正确选择配股或增发方式进行股权再融资进行了理论分... 上市公司进行股权再融资的方式主要有两种:增发和配股。如何对这两种方式进行合理选择一直是国内外学者研究的焦点。本文在Myers和Majluf框架模型下,运用Wu和Wang(2002)模型对上市公司正确选择配股或增发方式进行股权再融资进行了理论分析,得出中国市场的修正模型。理论分析的结果表明:在中国,增发是上市公司管理者的首选方式,但从外部流通股股东和提高市场效率来说,应该提倡采用配股方式。 展开更多
关键词 股权再融资 增发方式 配股方式
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增发还是配股? 上市公司股权再融资方式选择研究 被引量:31
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作者 管征 卞志村 范从来 《管理世界》 CSSCI 北大核心 2008年第1期136-144,共9页
上市公司进行股权再融资方式主要有两种:增发和配股。如何对这两种方式进行合理选择一直是国内外学者研究的焦点。本文运用信息不对称理论在Myers和Majluf(1984)模型框架下,采用Wu和Wang(2002)模型对上市公司正确选择配股或增发方式进... 上市公司进行股权再融资方式主要有两种:增发和配股。如何对这两种方式进行合理选择一直是国内外学者研究的焦点。本文运用信息不对称理论在Myers和Majluf(1984)模型框架下,采用Wu和Wang(2002)模型对上市公司正确选择配股或增发方式进行股权再融资进行了理论分析,得出中国市场的修正模型,并对此进行实证检验。理论分析的结果表明:在中国,增发方式是上市公司管理者的首选方式,但从外部流通股股东和提高市场效率来说,应该提倡采用配股方式;实证检验结果支持理论分析的结论。因此,在中国避免提倡采用增发方式。 展开更多
关键词 股权再融资 增发方式 配股方式
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Can Emerging Economies Catch-up Sustainably?-An Analysis of BRICS' Economic Growth Pattern 被引量:1
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作者 林跃勤 《China Economist》 2012年第1期106-115,共10页
The BRICS (Brazil, Russia, India, China and South Africa) and other emerging economies have become a driving global force for the past twenty years. However, their growth patterns are obsolete, impeding the quality ... The BRICS (Brazil, Russia, India, China and South Africa) and other emerging economies have become a driving global force for the past twenty years. However, their growth patterns are obsolete, impeding the quality and competitiveness of their economic growth, while simultaneously threatening the sustainability of their economic convergence with developed nations. Transforming the domestic growth pattern-the solution to the middle-income trap-has therefore become a key priority for each of these economies. This paper presents a comparative analysis of how to transform the pattern of economic growth in BRICS and achieve sustainable economic convergence with a comparative analysis of the pattern of economic growth and problems among BRICS countries. 展开更多
关键词 emerging economies BRICS countries transformation of growth pattern sustaining catch up
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Basic conditions study to accelerate the realization of transformation of Shaanxi's economy growth mode
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作者 LIU Shu-ru QI Long 《Chinese Business Review》 2010年第2期61-64,60,共5页
It is an urgent and important economic work in the moment and the next period for China to realize the transformation of economic growth mode. Relatively, there must be certain basic conditions. This article makes ela... It is an urgent and important economic work in the moment and the next period for China to realize the transformation of economic growth mode. Relatively, there must be certain basic conditions. This article makes elaboration of the basic conditions, which accelerate the change of Shaanxi's economic growth mode from government angle, and proposes countermeasures for it, according to Shaanxi's situation and the requirement of scientific development concept, in order to provide basis for the government's economic growth transformation. 展开更多
关键词 scientific development concept accelerate the realization economic growth mode TRANSFORMATION basic conditions
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Challenges and Opportunities for China's Agricultural and Rural Development in the 12th Five-year Plan Period
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作者 宋洪远 张红奎 +2 位作者 方华 张恒春 赵海 《China Economist》 2011年第1期58-66,共9页
Despite the great progress of rural socioeconomic development in the 11 th Five-year Plan period (2006-2010), China's agriculture and countryside are still.lacing the challenges of a crude development pattern, back... Despite the great progress of rural socioeconomic development in the 11 th Five-year Plan period (2006-2010), China's agriculture and countryside are still.lacing the challenges of a crude development pattern, backward rural development and cities' weak driving effect on the countryside. In the 12th Five-year Plan period (20I 1-2015), China should transform the way agriculture grows and operates; promote rural socioeconomic development; improve urban planning and its functions, institutional innovation, and urban/rural integration to lay a solid foundation for building an all-round well- off society. 展开更多
关键词 12th Five-Year Plan (2011-2015) modern agriculture construction of new socialist countryside integration of rural andurban areas
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The analysis of the influence factors of China's real estate prices
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作者 Xiaoli Shi Feng Ye 《International English Education Research》 2015年第8期48-50,共3页
The real estate market is an ilnportant part of China's socialist market economy. Real estate price xs not only a profound role on the level of consumption of the residents, but a profound role on the steady developm... The real estate market is an ilnportant part of China's socialist market economy. Real estate price xs not only a profound role on the level of consumption of the residents, but a profound role on the steady development of the banking sector-based financial sector. Real estate price have a significant impact not only on the development ofmacroeconomic stability, but on the safety of financial system. Chinese economy is currently on the period of transition from investment and export promotion of economic growth mode to a demand-led growth, it is an important role to China's economic growth for sustained and healthy development of real estate market. 展开更多
关键词 Real estate prices Influencing factors Policy Suggestions
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