“格力”与“海尔”再融资方式比较研究.docxVIP

“格力”与“海尔”再融资方式比较研究 摘 要 我国经济迅速发展并开始逐渐形成经济发展新格局，市场经济的逐渐转型带动了我国证券市场的发展。上市公司作为证券市场的重要组成部分，若想发展壮大，发挥其活力，离不开充足的资金。上市公司资金来源主要有两条途径，增发股票融资或者借款进行融资。不同的融资方式会对经济发展产生不同的影响。再融资方式的选择也受宏观经济环境及国家政策的影响，立足于我国的市场现状，通过对比分析上市公司的再融资方式，从理论和现实角度为上市公司的再融资方式提供借鉴。 本文对再融资概念及相关理论进行了梳理，并结合具体案例进行对比分析通过搜集和统计近几年的财务数据将权益性再融资次数较多、规模较大的“海尔电器”与权益性再融资次数较少、以债权型融资为主的“格力电器”进行对比，分析了两大上市公司的融资现状，并结合资本结构等评价指标，对其中的原因进行了分析，比较了不同上市公司的融资偏好，并提出自己的优化建议。对于优化我国电器行业上市公司的再融资方式具有一定的借鉴意义。 关键词：上市公司；再融资；格力；海尔 RESEARCH ON THE REFINANCING METHODS OF GREE AND HAIER Abstract China's economy has developed rapidly and has begun to form a new pattern of economic development. The gradual transformation of the market economy has driven the development of China's securities market. As an important part of the securities market, listed companies, if they want to grow and develop their vitality, cannot afford sufficient funds. There are two main sources of funding for listed companies, including the issuance of stock financing or borrowing for financing. Different financing methods will have different effects on economic development. The choice of refinancing methods is also influenced by the macroeconomic environment and national policies. Based on the current market situation in China, the comparative analysis of the refinancing methods of listed companies provides a reference for the refinancing methods of listed companies from a theoretical and practical perspective. This paper sorts out the concept of refinancing and related theories, and compares and analyzes the specific cases. By collecting and counting the financial data of recent years, the number of equity refinancing times and the larger scale of Haier Electric and equity are re The number of financing is relatively small, and Gree Electric, which is mainly based on debt financing, compares the financing status of the two listed companies, and analyzes the reasons based on the evaluation indicators such as capital structure, and compares the different listed companies.