Comparative Study On Seasoned Equity Offerings’ Financing Efficiency Of Listed Companies Between China And India

After the listed companies’ initial public offerings,with the expansion of the company,in order to gain the subsequent financial support,the enterprises need to make second equity offerings to deal with the capital shortage.With the rapid development of the refinancing market of China,more and more financing and refinancing problems have been exposed.Among them, preference of equity refinancing and the low efficiency ues of refinancing funds of the listed companies in China are the two problems in particular.India and China both belong to the “Brick counties”,they are all developing countries,and they are all large population countries.But the development of the India stock market are much more mature than China’s stock market.Therefore,this article based on the stock market between the two countries,using the theoretical and empirical analysis method,and compared the differences of the refinancing efficiency gap between the listed companies of the two countries.This article is divided into six chapters and the content of each chapter is closely around the equity refinancing efficiency in China and India.Firstly,the author reviewed the related documents home and abroad about equity refinancing efficiency;Then,the author summarized the state of the development of the stock market in China and India,and summarized the causes of the equity refinancing preference in our country;Thirdly,the author collected the latest data and used the DEA model to research the equity refinancing efficiency of the two countries,and got the conclusion that the efficiency in China is lower than India’s.Lastly,the author came with the suggestion to improve the equity refinancing efficiency in China.