Study on the Operating Performance of Equity Private Placement in China

摘要：

This article select the financial data of 2006 and 2007,We choose 14 financial indexes which reflect listed companies profitability,debt paying ability, operation ability,growth ability and cash flow ability to establish a financial index system to see whether the operating performance has been improved or not. Institutional investors participated in the private placements can improve the operating performance,while those sell their private stocks to the leading shareholders have their operating performance declined. The companies sell at larger discounts faced declined operating performance compared to the companies sold at smaller discounts, and it illustrated that investors can differentiate the quality of the companies.

关键词： Private placements Discount Longer operating performance

作者: SU Xinlong CHEN Yun

作者单位: School of Management, Xiamen University, Xiamen, P.R. China, 361005 The Ministry of Railways of the Peoples Republic of China, Beijing, 100844

会议类型: 国际会议

会议名称: The Sixth International Symposium on Corporate Governance(第六届公司治理国际研讨会)

会议地点: 大连

会议语种:英文

页码: 420-431

在线出版日期: 2011-08-20（万方平台首次上网日期，不代表论文的发表时间）