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在我国股票市场上,上市公司利用权益进行再次融资的现象极其普遍。这与欧美市场形成鲜明对比。从国外证券市场的实践结果来看,上市公司再次融资时首先选择的融资来源是公司内部资金,在选择外部融资时,公司会优先考虑债务融资方式,最后才会借助权益融资,而且对权益融资方式相当谨慎,之所以如此,是因为再次股本融资将不可避免地影响到原有股东的利益。近年来,我国上市公司的权益融资行为越演越烈,在带来一定的正面效应的同时,也产生了相当大的负面效应。为比较全面、深入地认识这一现象,有必要对目前我国上市公司的权益融资方式进行分析。
In the stock market of our country, it is extremely common for listed companies to use the rights and interests to finance again. This is in sharp contrast with the European and American markets. From the practice of foreign securities market, listed companies refinancing the first choice of source of financing is the company's internal funds, in the choice of external financing, the company will give priority to debt financing, and finally will use the equity financing, and financing of equity The way is very cautious, the reason is because once again equity financing will inevitably affect the interests of the original shareholders. In recent years, the equity financing behavior of listed companies in our country has become more and more fierce. While bringing some positive effects, it also has a considerable negative effect. In order to understand this phenomenon in a comprehensive and in-depth way, it is necessary to analyze the current equity financing methods of listed companies in our country.