我国A股上市公司股权质押金融风险调查与分析——以黑龙江省为例  

Investigation and Analysis Equity Pledge Financial Risks of A-share Listed Companies in China:Taking Heilongjiang Province as an Example

作　　者：赵景兰 梁蒙 包艳龙[3] Zhao Jinglan;Liang Meng;Bao Yanlong(CCB University Northeastern Campus;Mudanjiang Central Sub-branch,the People's Bank of China;Harbin Central Sub-branch,the People's Bank of China)

机构地区：[1]建行大学东北学院 [2]中国人民银行牡丹江市中心支行 [3]中国人民银行哈尔滨中心支行

出　　处：《金融发展评论》2019年第7期89-94,共6页Financial Development Review

摘　　要：近年来,大量A股上市公司大股东进行股权质押融资,受股市持续低迷等因素影响,股权质押融资违约风险不断暴露。在"三去一降"的背景下,大量东北老工业基地企业出现经营转型困难的情况,导致股权质押融资违约风险更为突出。本文以黑龙江省A股上市公司为例,全面调查了辖区上市公司股权质押风险状况,发现辖区股权质押比例显著高于全国平均水平,股市的反弹并没有显著化解股权质押风险,且集中解质押期即将来临,相关金融风险不容忽视。In recent years,a large number of A-share listed companies have conducted equity pledge financing in China,The risk of default on equity pledge financing is constantly exposed affected by factors such as the continued downturn in the stock market.In the context of de-stocking,Deleveraging,cost reduction,improving underdeveloped areas in The old industrial base of Northeast China.A large number of enterprises have experienced difficulties in business transformation,The risk of equity pledge default has occurred frequently.This article takes Heilongjiang A-share listed company as an example,Fully investigated the equity pledge and risk status of listed companies in the jurisdiction.It is found that the proportion of equity pledge in the jurisdiction is significantly higher than the national average,the rebound in the stock market did not significantly resolve the risk of equity pledge,and the centralized decommissioning period is coming soon,relevant financial risks cannot be ignored.

关 键 词：上市公司 股权质押 风险 调查 

分 类 号：F832.51[经济管理—金融学]