Institutional Investors Participate In Private Placements Of Listed Companies Performance Analysis

China’s private placement was launched after the reform of equity division,with the advantages of low issuance threshold,low financing cost and simple issuance procedure,and has become the most dependent refinancing tool for listed companies in China to a certain extent,so can institutional investors effectively improve corporate governance capabilities and significantly improve corporate performance when participating in the private placement of listed companies? There are many opinions on the relationship between the interests of institutional investors and listed companies.Based on this background,this paper analyzes it in the form of a case study.In the selection of research companies,this article chose CATL,which is known as the king of fixed increases because it issued 45 billion fixed increases in 2021.Taking the Ningde era as an example,the directional issuance is studied and is universal and representative.On this basis,taking the study of the performance changes brought by private placement as the starting point,and on the basis of fully analyzing market data,we explore how the introduction of institutional investors in CATL affects performance.Taking CATL’s private placement as a case,this paper analyzes the market response of private placement by using the event research method and BRAH method,and analyzes the long-term performance of private placement by financial index analysis and factor analysis.It is found that CATL has a good short-term market response and long-term market response.At the same time,long-term performance is based on a half-year period that becomes positive and then gradually weakens.The case study is of practical significance.First,it can enable listed companies to better use the refinancing tool of private placement,thereby promoting the good development of the company;Second,it can enable investors to enhance their awareness of venture capital and improve their venture capital strategy;Third,it can provide some regulatory suggestions for regulatory authorities to standardize the private placement market.