增发新股

对我国证券市场而言，增发新股是投资银行业务的创新，是我国投资银行业向市场化发展，与国际惯例接轨的具体体现。

As far as Chinese stock market is concerned , SPO is an originality innovation of Investment Banking and reflects the fact that Investment Banks in China are oriented to the market and become more in line with the international conventions .

在上月中国内地股市跳水之际，平安保险（PingAnInsurance）宣布了通过增发新股和可转换债券筹资至多200亿美元的计划。

As markets tanked last month , Ping An Insurance unveiled plans to raise up to $ 20bn through an issue of new shares and convertibles .

我国与西方上市公司增发新股的比较与借鉴我国股票IPOs热销市场的实证研究

Comparison on the Issue of Additional New Stocks of Listed Company in China and Abroad An Empirical Investigation of Hot Issue Markets in Chinese IPOs

6月份，北京取消了为时9个月的新股发行禁令，引发了一波申请首次公开发行（ipo）和增发新股的热潮，其中多数来自国有企业。

In June , Beijing lifted a nine-month ban on new share sales , precipitating a flood of new applications for initial public offerings and secondary share issuances from mostly state-owned companies .

中国股市增发新股抑价的程度和原因

Level of and Reasons for the Underpricing of China 's New Stock

上市公司增发新股机制的经济学分析

The Economics Analysis of Listed Companies ' Mechanism in Issuing New Shares

我国上市公司定向增发新股前盈余管理的实证研究

Empirical Research on Earning Management before Private Equity Placement by Chinese Listed Companies

中国证券市场增发新股的定价研究

Pricing of Seasoned Equity Offerings in Chinese Equity Market

增发新股对公司可持续增长力的影响分析

An Analysis of the Influence of Supplemented Issuance on Corporations ' Sustainable Development

加强上市公司增发新股的可行性论证与监管

On Strengthening the Feasibility Study and Regulation of New Share Issues by Listed Companies

之后，对增发新股的方式和特点作了简要介绍。特别是对于公开增发、定向增发和配股这三种再融资方式作了比较研究，分析了定向增发的特点和优势。

This paper also analyzes the advantages of directional add-issuance after comparing three refinancing methods .

1999年，增发新股成了中国上市公司一种新的融资方式。

In 1999 , new issuance became a new way of financing for domestic listed companies .

增发新股一般会导致公司股票价格下跌（增发新股的股价效应）。

New issuance generally results in share-price 's falling , which is called " share-price-effect " .

同时对比其他再融资方式，发现可转换债券相对于增发新股，配股更受到投资者的追捧。

Compare with re-issuing new shares and rationing shares , we find investor prefer convertible bonds .

力拓的放贷者也宁可让力拓增发新股，而非进一步缩小资产基础。

Rio 's lenders would also rather Rio issue shares than further shrink its asset base .

上市公司增发新股将使非流通股股东财富增加，流通股老股东财富减少。

SEO leads to the fact that no-public shareholders ' wealth increase and public shareholders ' reduce .

是否增发新股需要董事会公判决定。

Whether or not to issue a new stock shall be decided by the board after public discussion .

上市公司增发新股对股价影响的实证分析

Experimental Analysis of the New Issue of the Share Offering on the Stock Price of a Listing Company

他们可能还把增发新股视为承认失败（确实会这样）。

They might also see an equity raising as an admission of defeat – as it would be .

平安保险是计划增发新股的诸多中国大型上市公司之一。

Ping An is one of a number of large , listed Chinese companies planning issues of new paper .

股权再融资一般包括配股、增发新股、可转债以及分离交易可转债的发行。

Generally speaking , seasoned equity offering ( SEO ) includes right issuing , issuing new shares and issuing convertible bonds .

实证结果表明，上市公司公开增发新股前存在正的盈余管理。

The empirical results indicate that there is a positive earnings management in the public issuance of new shares of listed companies .

对于资本运作方式，大家比较熟悉的是收购、兼并、增发新股等资本扩张型的运作，股份回购等资本收缩型运作并不常见。

We are familiar with capital-widening operations such as acquisition , merger and issuing new shares , but not with stock repurchase .

国外研究表明，增发新股对二级市场股价走势具有明显的影响，并把这种影响称为增发的股价效应。

According to overseas research , new issuance had obvious influence on share-price in secondary market , which was called " Share-price-effect " .

研究发现，公司首发或增发新股前后经营业绩整体呈显著下降现象。

The study found that , there is a significant drop in the overall operating performance after issuing new shares or additional shares .

而定向增发新股的类型将影响中国上市公司盈余管理的方式。

However , the type of private placement of new shares can affect the manner of earnings management of listed companies in China .

国外通常采用首次公开发行预留、增发新股、股份回购三种方式来解决行权所需之股票，但这三种股票来源渠道在我国均存在着一定的法律障碍。

In foreign countries , there are usually three channels to get stock for exercising but in our country there exist legal obstacles .

本文首先对国内外有关增发新股公告效应的理论和实证研究成果进行回顾和评价，并以此为理论基础，结合我国的具体情况，分析得出影响我国上市公司增发公告效应的可能因素。

At first , we review the foreign and domestic documents of seasoned equity offerings , and find some factors that influence the announcement effect .

增发新股同样影响股票价格、股票指数：增发新股导致股票价格、股票指数下降。

SEO can also affect share price as well as share index , it is to say , SEO will get down share price and share index .

上市公司未来的可持续增长主要还是取决于通过增发新股筹资的投资项目资产净利率（RO^A，其中^表示期初总资产）的高低以及公司的股利政策和股本结构。

Sustainable development of the corporation mostly lies in the ratio of investment case through supplemented issuance of new equity , corporations ' dividend policy and capital structure .