创业板上市企业发行审核有效性研究

发布时间：2018-05-14 13:37

本文选题：发行审核 + 主承销商声誉　；参考：《山西财经大学学报》2011年12期

【摘要】：基于我国创业板发行审核的相关数据,从审核机构、主承销商、拟上市企业三方面来寻求影响企业通过创业板发行审核的主要因素,从而评估证监会审核的公正性与有效性。研究发现,主承销商的声誉、私募股权投资与风险投资的参与、家族控制对企业通过发行审核的可能性有正向影响,上市公司董事长或总经理的政治关联与通过审核的可能性呈负相关关系,企业的财务状况与融资需求、企业所持有的专利数目、研发投入占主营业务收入的比例等对审核结果并没有显著影响。进一步的分析还表明,证监会的审核不存在明显的寻租现象或地域歧视,但尚未能充分发挥筛选优秀上市企业的职能,审核有效性有进一步提升的空间。
[Abstract]:Based on the relevant data of the gem issuance review in China, from the three aspects of the audit institution, the main underwriter and the listed enterprise, the main factors that affect the enterprise through the gem issuance review are sought to evaluate the impartiality and effectiveness of the CSRC audit. Family control has a positive impact on the possibility of an enterprise through the issue of audit. The political association of the chairman of the listed company or the general manager is negatively related to the possibility of through the audit. The financial situation and financing needs of the enterprise, the number of patents held by the enterprise, the proportion of R & D investment in the main business income, and so on, do not show the results of the audit. The further analysis also shows that there is no obvious rent seeking or regional discrimination in the audit of the CSRC, but it has not yet fully played the function of screening the outstanding listed companies, and the validity of the audit is further improved.

【作者单位】：北京大学汇丰商学院;新沃资本控股有限公司;北京大学经济学院;
【分类号】：F832.51

【相似文献】