Study On Refinancing Of Listed Companies In China

The refinancing of listed companies, which serves as a significant approach of the market economy and the stock market to optimize resource allocation, is expedited in the development of the companies. The research on refinancing refers to the listed companies raise funds through offering securities in the stock market of China, including three modes of refinancing-rights offering,seasoned equity offering and issuing convertible bonds in this paper. The phenomenon of regarding neither refinancing nor dividends, speculation and illegal behaviors are common in the capital market of our country, which have twisted the financing function seriously and interfered the optimizing resource distribution function in the security market of our country.The paper analyzes the problems of refinancing and puts forward to some measures which regulate and perfect the refinancing conduction, using normative research method and empirical research method. And it has offered the reference opinions and suggestions to the investors'decision of investment, the long-term development of the listed companies, and the supervision of the securities department of our country.