摘要
由于历史原因,我国很多上市公司脱胎于计划经济下的国有企业,其融资行为违背了现代融资理论的"融资定律",呈现出强烈的股权融资偏好。这种股权融资偏好带来了募股资金使用效率低下、股本过度扩张拖累公司经营业绩、不利于金融体系的正常运行等弊端,因此必须对上市公司这种不健康的融资行为加以治理,以促进社会资源的优化配置。
<Abstrcat> Owing to historic reasons, many Chinese listed companies were born out of the state-owned enterprises with planned economy. Their financing behaviors violated the Financial Law of modern financing theory, resulting in the strong preference to stock financing, which has brought about some problems such as the low efficiency of stocking capitals, poor performance caused by excessive stock expansion and abnormal operation of financing system, etc.. Therefore, something should be done to administrate these unhealthy financing behaviors, thus promoting the optimal distribution of social resources.
出处
《扬州职业大学学报》
2005年第2期21-24,共4页
Journal of Yangzhou Polytechnic College
关键词
上市公司
股权融资
公司治理
listed companies
stock financing
administration of the companies
