The Research Of Changing Investment Direction After Raising Funds

Listed companies need to launch a detailed project plan before raising fund,the investment behavior of investors in listed companies largely affected by the proposed investment projects,the listed company's "prospectus","additional instructions","manual placement ",in fact a commitment to investors: Investors make investment decisions accordingly,is equivalent to the listed company signed a prospectus or manual placement for the content of investment contracts.Investors will of course select some description of high-yield,low-risk prospects good projects for investment,so that most of the listed companies raising funds completely successful,the next step is how to efficiently use the funds raised.A large part of the listed companies to raise funds after making changes to invest in before decision-making,regardless of their good intentions or malicious changes also change,which changes the speed,large amounts of both to let the investors unexpected.So what is the reason attracted many companies to make such a decision,the decision-making fund-raising after the new destination where a series of influence and its consequences are worth to explore.This paper describes the reasons for choosing this topic,the topic of domestic and foreign scholars have conducted research in the Review and Summary,we put forward the basic framework of this paper,research methods and ideas.Secondly,it introduces the use of listed companies to raise funds to change the behavior of the reason,the magnitude and direction of the consequences and related theories overview.Furthermore,is the case of this paper,the study of specific changes to the use of fund raised by Good Hand Railway.In the case study describes the internal environment and related status of the entire railway infrastructure construction industry;changes in the country rail constant process of change to raise funds and accompany this process of corporate financial situation;a detailed analysis of the constant change proceeds railway motivation,invest and bring new influence and inspiration.Good Hand Railway change the use of funds raised have three main reasons: the emergence of corporate capital chain crisis management as well as profit-driven influence national policy.Good Hand Railway change the use of proceeds to invest in three new directions: add liquidity,trust management,snapped management.To invest in three new,the country's biggest feature is the constant change of the railway as high as 85% and is executive grab the highest proportion of funds raised that is unaccounted for.This paper shows that such a large area of listed companies,to raise funds to invest in large-scale changes in behavior and the Chinese special institutional background,the corporate governance structure are closely linked.Effect of change of listed companies to raise funds to invest in our country is also a key factor in corporate governance issues.The government decisions,regulators are to reducing state shares in circulation and make efforts to explore reforms.In this paper,Good Hand Railway change funds raised invest direction Case studies relevant circumstances change after that: In order to regulate the use of funds raised,improve the normal order of the securities market and promote their long-term healthy development,regulatory approval from the fund-raising plan,the enterprise internal aspects of using the program to raise funds for the optimization and,particularly,the establishment and other relevant laws and regulations and incentives to proceed perfect detail.Only within the enterprise while forming an effective check and balance mechanism and self-restraint mechanism and strengthen the power of supervision and outside the enterprise in order to improve this situation that companies frequently change the use of proceeds.