摘要
优先股是国内资本市场关注的热点问题,监管部门正在开展相应试点,对国外优先股相关问题的回顾和梳理对于我国开展优先股的实践和研究具有借鉴和启示作用。国外优先股研究主要从以下三方面开展:从发行主体、监管部门和投资者的角度探讨优先股的分类和信息披露;从税负动因、监管要求以及财务报表优化等角度分析优先股发行的动因;第三,从发行和回购的市场反应、长期市场表现等角度研究优先股的经济后果。
The issuance of preferred stock is a hot issue in China’s capital market.In this paper,we comprehensively review the relevant literature of preferred stock from three aspects. Firstly, we review the research on accounting classification and information disclosure of preferred stock from the perspectives of issuer, regulator and investor separately.Secondly, we review the relevant research on the motivations for issuing preferred stock,such as tax,regulatory and the optimization of financial reports.Finally, we review research on both short-term and long-term market reaction of the issuance and repurchase of preferred stock.
出处
《会计与经济研究》
北大核心
2014年第6期36-47,共12页
Accounting and Economics Research
基金
上海高校青年教师培养资助计划(ZZLX12007)
上海立信会计学院创新创业教育实验基地项目(B8-3111-13-0501)
立信会计产学研基地项目(13GD02)
关键词
优先股
分类
披露
发行动因
市场反应
preferred stock
classification
disclosure
issuing motivation
market reaction
