基于股权二元结构的上市公司增发市场均衡分析  

Equilibrium Analysis of Listed Company SEO Market: Based on the Configuration of Binary Stock Equity

作　　者：傅强[1] 邹晓峰[1] 

机构地区：[1]重庆大学经济与工商学院,重庆400044

出　　处：《武汉大学学报（人文科学版）》2005年第3期351-361,共11页Wuhan University Journal (Humanity Sciences)

摘　　要：对股票市场中的增发市场研究,绝大部分学者都采用基础分析方法来探讨增发市场价格定价理论和利益转移现象。然而,这些分析与实证研究都是基于个体行为分析,因而不能说明增发市场的群体性行为。如果运用一般均衡和局部均衡方法进行研究,将能更好地说明增发市场中各种行为问题。It discusses SEO(seasoned equity offering )market based on the configuration of binary stock equity by equilibrium analysis and draws the conclusion as follows: the new offering’s quantity bought by the speculator in the SEO market has a market portfolio; the new offering’s demand quantity is related to market capacity, integrative price index, speculative income and risk state; the best tactic with a company SEO is the offering quantity equal to the demand quantity; the better the company’s performance and the project’s payoff are, the more the difference of SEO fore-and-aft prices can be augmented.

关 键 词：股权二元结构 增发市场 均衡分析 

分 类 号：F830.91[经济管理—金融学]