Analyses The Refinancing Behavior Of Listed Companies In Our Country

Because today’s refinancing of listed companies is amost importantway of the company’sdevelopment, and raised funds by refinancing also can largely promote the company’s project progress, can more effectively promote the market to achieve the optimal allocation of resources. However, despite the refinancing of listed companies has important role for the development of enterprise, its function has been more and more attention, but the resulting problems still cause our attention. Therefore, this article through to the refinancing way of comparative analysis, analysis of the status quo of refinancing way as well as relevant empirical analysis, obtained some behavior characteristics and reason of refinancing of listed companies, further policy views and SuggestionsBased on comparing similarities and differences and the advantages and disadvantages of the refinancing ways about the listed companies in China, the paper takes the empirical way, and using event study by assuming that to adopt the mode of rights and rights to refinance the excess returns of listed companies is significant to carry on the empirical test. In addition, this paper have the disadvantages of two things: one is the analysis of the status quo, in three different ways of refinancing data is not comprehensive enough; the other is, on the empirical analysis, finally the results than expected, the effect before and after the contrast is not significant.