The Impact Of The Restricted Stocks’ Circulation In Listed Companies

In recent years,approval of placement projects and increase the speed of IPO by speeding up,a large number of restricted shares will be or have been lifted in the market gets traded the rights of listed companies to increase circulation shares affect the balance of state of China’s securities market.The stock price continued to cause changes,disrupted the evaluation system of investors in the stock in the stock market value the.China’s listed companies to ban the sale of shares lifted the event for retail investors,institutional investors in the occupation,and even shareholders have an important role.It not only affects the profit and loss of each individual,but also has an indelible impact on China’s entire capitalist market.Based on the results of previous studies,this paper explores the issue of the ban on the sale of the two markets in china.First of all,for the sale of restricted shares in the past described in detail,and then get a variety of ways to obtain a variety of data after the lifting of the ban,such as data extraction in wind information,the disclosure of listed companies,such as data.Finally,through qualitative and quantitative research methods and event study method to analyze the impact of the lifting of the ban itself,clear the lifting of the ban does have a negative effect.After the inquiry of non tradable shares on the stock market caused by the consequences of the lifting of the ban,found the stable development in the stock market in the country to have specific laws and regulations,which mainly includes the supervision and management problems of the restricted shares,deal with the reduction of problems,deal with the issue of the other can affect the stock price better.But also to find ways to increase the market supply of funds,increase the stock of funds,to avoid the reduction of cash and lead to shrinking the market,but also to cultivate new market demand,increase the ability to absorb funds in the market.China is still in the lifting of the ban,the market value of the lifting of the ban,in 2017 more than 3 trillion of the lifting value has been far more than any previous year,and the number of shares is also more than in previous years.And the data show that the reducing situation can not be ignored,so the need to reform the stock issuing mechanism and other project approval efforts;Finally,it needs to improve the relevant policies and regulations to guide the work of investors,the capitalist market regulation and investor behavior to guide the work.