Empirical Research On Influence Factors And Economical Performance In The Seasoned Equity Offerings Of Chinese Listed Company

Researches on seasoned equity offerings are mainly concentrated on the announcement effect and different market reactions before and after the issuance based on the event study,while study for influence factors which may lead to different issuance choices is rare,especially after accounting standards and equity division reform in 2006.Limited to the size of sample,reserches of public issuance is even more unusual.In this paper,using financial data of the Chinese listed companies which succeeded in implementing the public issuance from year 2007 to 2014,controlling industry and company size,this paper explores a comparison group which succeeded in implementing private placement in the same year.We find that Chinese listed companies will carry on different seasoned equity offerings with various factors.The most important factors are ownership structure and corporate governance,compared with the financial indicators.