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在国外企业纷纷注重内源融资和把债务融资作为外源融资的首选时,我国的上市公司却表现出对股权融资的极度偏好。但这种强烈的股权融资偏好对资本使用效率、股票市场资源配置、企业债券市场发展、货币政策的实施都将产生极其不良的影响。本文对我国上市公司股权融资偏好的原因进行了深入的分析,并提出了改进我国上市公司股权融资偏好的对策。
When foreign enterprises focus on internal financing and debt financing as their first choice for external financing, the listed companies in our country have shown their extreme preference for equity financing. However, this strong preference for equity financing will have an extremely adverse effect on the efficiency of capital utilization, the allocation of resources in the stock market, the development of the corporate bond market, and the implementation of monetary policies. This paper makes an in-depth analysis of the reasons why Chinese listed companies prefer equity financing, and puts forward some countermeasures to improve the preference of equity financing of listed companies in our country.