Research On The Equity Refinancing Of A Enterprises Under The "Tunnel Excavation" Of Major Shareholders

Since a capital market in china in the early 1990 s,with the development of market economy and the deepening reform of economic system,the equity refinancing in a very important position in the way of refinancing of listed companies in our country.Equity refinancing can raise sufficient funds from the capital market for the enterprise,is intended for the subsequent development of the enterprise and play a role,but the current common equity refinancing of listed companies in china's big shareholders' "tunneling" phenomenon,thus for equity refinancing of listed companies evaluate the big shareholders' "tunneling" not only has theoretical significance,but also has practical application value.For many times in the equity refinancing representative of A company for case study,selected in 2014,A company of researches in equity refinancing,through reading a large number of scholars research on equity refinancing,the announcement effect of literature,combing the way and the cause of the big shareholders' "tunneling" as well as the risks and so on.And combined with relevant theory,and through collecting large amounts of data before and after the incident,this article further to A company in 2014 to refinance the tunneling behavior of judgment,and then discusses the method of profits in A company and the refinancing performance impact,at different levels to prevent big shareholders' "tunneling" provides some references and suggestions.