| For a long time,private placement is the main way of financing the new three board company.New three board markets in the first half of last year,many companies have implemented set,but then prices tumbling,a lot of participation in a set of institutions was caught.At present,due to the new three boards market is relatively low,the lack of liquidity,institutions involved in increasing will generally not strong.Compared with gradually cold will increase financing,equity market this year hotting up.The so-called equity pledge,a pledge of shares held by the shareholders of a company as the subject matter to apply for a loan or provide guarantee for any third party,the pledge for the new three board company or its targeting,the pledge right people,including Banks,non-banking financial institutions and non-financial enterprises,such as bank is currently the largest in new three board equity pledge.Based on the new three board listed companies targeting equity pledge announcement posted as the research object,use the period of 2014 to 2015 as samples,USES the method of combination of theory and empirical research from the Angle of equity pledge money in hand,to research targeting equity pledge,to reveal the targeting equity p ledge money,targeting the actual shareholding ratio and equity is the pledge of the relationship between enterprise performance,and put forward the corresponding policy recommendations according to the research conclusion.Therefore,to understand and standardize the targeting of equity pledge has great theoretical significance and practical significance.Finally,the article main findings are:(1)Pledge money is different,there are differences in each enterprise performance,when targeting pledge money at stake is the pledge company,corporate performance is significantly higher than in targeting itself or other listed companies;(2)In a company with the pledge,the deduction of equity pledge of targeting the actual shareholding ratio and corporate performance are related. |
PDF Full Text Request