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Research On Influence Factors Of The NEEQ Listed Companies' Private Placement

Posted on:2017-02-04Degree:MasterType:Thesis
Country:ChinaCandidate:H W LiFull Text:PDF
GTID:2349330509953711Subject:Finance
Abstract/Summary:PDF Full Text Request
NEEQ is an important part of the multi-level capital market in China. It is the third national stock exchanges outside of Shanghai stock exchange and Shenzhen stock exchange. Since 2014, the NEEQ is developing rapidly, the number of listed companies is bigger than the sum listed companies number of Shanghai stock exchanges and Shenzhen stock exchanges, the NEEQ provided a nationwide platform for SMEs to access to capital market for financing. Because of the NEEQ belongs to the OTC market, therefore, Private placement is the main way for the listed companies financing in NEEQ. Private placement, consider as the tool of enterprise financing, are widely used in the capital markets. Compared with public offering, private placement has many advantages, just like fewer restrictions, more simple and convenient, the diversification of subscription form, the right to choose, saving the cost of distribution, etc. In 2015, the private placement in NEEQ is very active, alleviated the difficulties of SMEs' financing. The research on influence factors of the NEEQ listed companies' private placement help us to optimize the structure of the NEEQ financing market and solve the problem of listed companies, especially the SMEs' financing difficult.In this paper, we use empirical analysis and case analysis to do the research on influence factors of the NEEQ listed companies' private placement. Firstly, this paper introduces the research background and research results at home and abroad, then, this paper provide a detailed description for the NEEQ and the present situation of financing in the NEEQ. In the part of empirical analysis, this paper has carried on the empirical analysis of the influence factors of the implementation of private financing. At the same time, this paper selected company A as an example, analyzed the history of the company, main business, industry, financial status indicators etc. we can find that company A lived in good business growth but the presence of capital bottleneck restricting further development. according to the company's current financing demand and financing plan, and the effect factors of the private financing of A company is described. We summarize the influence factors of private placement plan of company A.At the end of the paper, according to the result of empirical analysis and case analysis, we make a suggestion from improving the listed enterprise's financing ability and optimizing the structure of the NEEQ financing market. In the aspect of enterprise itself, they need to constantly improve the enterprise's business indicators and performance so as to improve its financing ability, at the same time, enterprises should focus on the construction of professional finance team and reasonable arrangement of use of raising money; For the NEEQ, we must jump out of the inertial thinking about new three board market liquidity, the implementation of the layering and exit mechanism, to reduce the investment threshold, the perfection of the mechanism of rotating plate, guide the professional institutional investors to participate in the investment in NEEQ.
Keywords/Search Tags:NEEQ, Private Placement, Financing
PDF Full Text Request
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