作　　者： ; ;

机构地区： 上海交通大学安泰经济与管理学院

出　　处： 《哈尔滨商业大学学报（社会科学版）》 2009年第2期42-46,共5页

摘　　要： 企业融资问题一直以来在企业管理和财务管理领域内受到学者的高度关注。在国外,之前一些西方学者的研究发现,对于美国、日本等一些发达国家的上市公司会选择发行成本较高的增发方式而不是配股方式进行再融资;在中国,企业的股权融资偏好又与西方的融资优序理论不符。理论界称之为股权融资之谜。以此出发,可以分为国外之谜、国内之谜两条主线,分别阐述已有文献对此问题的解释和观点,并给予评价。 Corporate finance issues has always been in the field of great concern. In business management and financial management by scholars. Overseas, a number of Western scholars＇ study found that for some developed countries such as USA and Japan＇s listed companies will choose to pay more to issue additional shares, rather than the way to refinance; in China, enterprises preferred equity financing rather than debt financing which is opposite to the pecking order theory in western. Theorists call it the mystery of equity financing. This article divided the mystery into foreign and domestic mystery as two main lines. Trying to explain the point of view of the literature on this issue and provide evaluation and finally put forward the corresponding area of future research directions.

关 键 词： 股权融资偏好 配股 增发

领　　域： [经济管理]