论文部分内容阅读
本文以2002年1月至2004年12月成功发行可转债与有发行意向但未成功发行可转债的上市公司为研究对象,对股权结构与成功发行可转换债券的关系进行了理论分析与实证检验。研究结果表明,股权结构是影响可转换债券发行的重要因素,即第一大股东持股越高,越可能成功发行可转债,其他利益集团持股比例与流通股比例与成功发行可转债却呈现反向关系。
This paper studies the relationship between ownership structure and the successful issue of convertible bonds with the successful issuance of convertible bonds from January 2002 to December 2004 and the listed companies that have the intention to issue but do not successfully issue convertible bonds Empirical test. The results show that the ownership structure is an important factor that affects the issue of convertible bonds. That is, the higher the largest shareholder, the more likely it is to issue convertible bonds, the shareholding ratio of other interest groups and the proportion of tradable shares and convertible bonds But showed a reverse relationship.