对流通A股融资成本的实证研究  

Empirical Study of Financing Cost of Outstanding Common Stock A Share

作　　者：干胜道[1] 卢中伟[1] 韩秀明 

机构地区：[1]四川大学工商管理学院 [2]河南省财税专科学校

出　　处：《管理学报》2005年第6期718-720,738,共4页Chinese Journal of Management

基　　金：国家自然科学基金资助项目(70202004)

摘　　要：普通股融资成本问题是财务管理的难题之一,它与公司治理结构有着密切关系。基于中国上市公司股权分置的实际,充分考虑大股东的私有收益实现和内部人控制两个因素,提出将普通股融资成本问题简化为流通A股的付现成本问题,这样才能够清晰地了解发行A股进行融资的真正成本。The financing cost of common stock was one of the difficult problems in financing management and was closely related with cooperation governance. The practice was presented on the basis of the shares allocation of China listed company, considering the private income of big shareholders and the insider-control. The problems of the financing cost of common stock were simplified as the problems of the payout cost of outstanding common sock A share. The true cost of the financing cost of outstanding common stock A share can be clearly understood.

关 键 词：流通A股 融资 付现成本 资本利得 

分 类 号：F406.71[经济管理—产业经济]