China's Listed Companies To Raise Funds To Use Behavioral Research

On the base of other researchers' work, this article investigated the using of fund raised in public offers. For the first time, we add the finish of investment plan in the study, and research the using conduct and efficiency of capital together.In the article we first show the problems of fund collection and using of listed company of China by statistical date, then explain the affect factor of fund using by construct general behavior preference model of company. Using such explain as direction, we also empirically analysis the using and efficiency of fund raised in public offers.In the research, we find changing of invest direction and not finishing of capital plan are widely exist in listed company of China, and the latter affect the efficiency of capital obviously. For the more, we find effective restrict and inspirit the managers can spur them do well in complete investment plan; but the supervising from government have negative relation whit the finish of investment plan, means there are some limitations in current supervising measures. According to the empirical results, we put forward corresponding advices for policy establishment in order to regulate the use of fund raised in public offers effectively.