Research On The Financial Effect Of Private Placement Of Asset-Oriented Private Placement

Private placement is a non-public offering that is directed to not more than 10 specific investors non-public offering of shares.This type of financing is China's introduction from overseas,it is borrowed from the overseas capital market development of the favorable experience,compared with other financing methods,it has a fast issue and low cost advantages,because of this,orientation Issuance of listed companies in the financing of the time when the first choice.In the past,the research on the issuance of private placement mainly focused on the effect of private placement announcement,shareholder wealth effect,stock price effect,interest transmission,motive and the financial effect of project financing and private placement.There are few studies on the issuance of financial effects.Therefore,the study on the financial effect of the private issuer of the listed company's actual controller,not only to determine whether the private placement program is scientific and to evaluate the success of the private placement,but also can specifically study the actual controller of the injection of private placement of this mode of operation of the financial Effect,therefore,the research of this paper has theoretical and practical significance.In this paper,the theoretical effects of theoretical research and case analysis are used to study the financial effect of actual controller injection.First of all,this article on the relevant theoretical literature at home and abroad were more detailed combing and found that domestic and foreign research on private placement is mainly focused on the announcement effect and short-term performance of the company's research on the injection of asset-oriented private research at home and abroad also have different View,the domestic researchers concluded that asset-oriented private placement on the performance of enterprises have a certain role in the promotion,but the conclusions of foreign researchers and the domestic opposite.This paper introduces the concept of private placement and asset injection,especially the principal theory of principal-agent theory,supervision effect theory,efficiency theory and transaction cost theory.Finally,by analyzing the influence of the actual controller's capital injection on the financial quality and financial capacity of Shenzhen,it is concluded that the actual controller's capital injection has a certain effect on the financial quality and financial ability of the listed company.According to the conclusions drawn from the research,this paper mainly puts forward the following three countermeasures:to clarify the ownership relationship of the underlying assets,to ensure the quality of the injected assets and to develop the scientific private placement scheme.