The Research On The Financing Effect Of A Company's Private Placement

In 2006,private placement,as a kind of new equity refinancing tool after entering the shareholding reform of China's securities market,and with its advantage of high efficiency,low threshold quickly for favoured by listed companies in China.But always consider often appear in the process of a circle of money,the problem such as the indemnification,listed companies for the value and meaning of directional issuance questioned by more and more.Consider its influence on the development of the listed companies that produce the effect of financing has become the investors,listed companies,market regulators and other market participants are extremely concerned about problems.Based on a specific listed companies as the research object through the case analysis of the form to delve into,aiming to understand China's current market background,the implementation of the purchase of wealth effects,and discusses what problems need to solve in the process of practice and improvement,in order to optimize the purchase operation,improve the positive influence of market participants.This paper takes 2012 a-share market in China for the purchase of A company as the research object,first of all to review and summarize the studies on the related literature at home and abroad,in order to understand domestic and international market private financing effect,after the concept of private placement and financing effect,measure methods and relevant theory is discussed.The case analysis is carried out on the basis of comprehensive understanding of the theory.In case analysis part,first introduces and analyses the basic development situation of A company,the implementation of the purchase motivation,implementation process and implementation results,from the stock market after the performance with the company's financial situation from two aspects of the private financing effect to conduct A comprehensive in-depth exploration,the study found that the directional issuance of securities market has A positive effect;In the company's financial situation,A company's solvency and A drop in A certain operating ability,profit ability,growth ability and market value ratios in will increase when the appeared more substantial increase,but growth trend has not been well last,some indicators below before increasing level,even the overall financing effect is not ideal.And continue to explore the reasons behind the process,found that companies in the private placement into poor asset quality,and the injection of assets integration efficiency is not high,profits and other issues.As a typical problems existing in the current company in the process of the purchase,this article finally based on the company puts forward practical comprehensive considerations underlying assets,raise efficiency of resources integration,to improve corporate responsibility mechanism and so on,finally,in view of the problems in the private placement market put forward relevant Suggestions,in order to help optimize market environment,market operation and good development.