Empirical Analysis On Impact Factors Of Small And Medium-Sized Board Listed Companies's Stock Capital Expansion

Stock capital expansion is the behavior of a company to increase share capital. the phenomenon of capital expansion is widespread in China's listed companies, and particularly prominent in the small and medium-sized board listed company According to statistics, a total of 218 small and medium-sized board listed company announced that send and transfer shares in 2010, accounted for 50.58% of total small and medium-sized board listed company.The behavior is not only seriously affected the behavior of rational investors, but also affect the health development of listed companies and securities market. Therefore, analysis the affect factors of this behavior have an important significance for listed companies,securities and investors.This paper uses the standard research and the empirical analysis to study the factors of China's small and medium-sized board listed companies' stock capital expansion. The article is divided into six parts. The first part of "Introduction", briefly introduces the background and significance of topics, research content and the basic framework, research methods and innovation; the second part" related theories and literature review of stock capital expansion ", analyzed and summarized the domestic and foreign scholars' research on the listed companies' stock capital expansion; the third part" Analysis the present situation of SME Board Listed Companies' stock capital expansion," before 30 April 2010 with stock capital expansion behavior of the SME board listed companies as samples, analyzes the present situation and trend of stock capital expansion; the fourth part" influence factors of stock capital expansion and descriptive statistics", descriptive the factors of small and medium-sized board listed companies' stock capital expansion, selected significant related factors; the fifth part of the " empirical analysis influencing factors on stock capital expansion ", using principal component regression method for empirical research, and obtained empirical results; the sixth part of the " related issues and recommendations", according to the conclusion of empirical analysis as well as the problems in small and medium-sized board listed companies, put forward a reasonable proposal from the regulatory departments, listed companies and investors, etc.