The Impact Of Financial Capital On The Performance Of Listed Companies

"Listing" is not a clearly defined academic concept.It means that investors need to announce to the market when they hold a certain proportion of shares of a company in the securities market.Since the development of China's securities market,there have been a series of regulations and amendments on the relevant system of the event of listing,which actively promote the development of China's securities market.Especially in recent years,the event of holding a card has gradually entered people's vision.Among them,the event that the capital source is financial capital raising has aroused people's attention widely,such as vanke's fight for control.Its chairman,liu shiyu,has accused the "barbarians at the gate" of using improper funds to increase leverage and invade other companies,calling them "robbers".Some of the behaviors of holding up the CARDS bear malicious labels.In the past few years,financial capital accounted for a relatively large proportion in the overall poker event,and it is obvious that financial capital has more influence on the poker event than industrial capital.However,the source of funds behind financial capital,the purpose of listing,and the impact on the enterprises being listed are all open to discussion.With the increasing frequency of the event,the domestic securities market is facing new challenges and opportunities,but also a lot of problems.In the case of the shareholder wealth effect after the stock listing event,the related issues of stock price have been proved a lot,but in terms of the business performance of the party being held,it is also worth paying attention to.Through the event research method and the empirical research method,this paper analyzes the event of holding a license from 2014 to 2016.In the process of analysis,all the quarterly report data of the listed enterprise from 2013 to 2017 are selected,and three indicators representing the business performance are selected.In terms of data processing,the time trend and endogenous problems are excluded by two difference methods.Through the analysis of multiple regression model,it is found that the financial capital has a negative impact on the business performance of the enterprises being held.