摘要
Abstract
This paper, by taking the listed companies which implement private placement in 2009 as the sam-ple, and by choosing the financial data from 2008 to 2013, empirically researches the financial performance evalua-tion from four aspects of profitability, asset quality, debt risk and business growth. The results show that: the pri-vate placement behavior only facing the big shareholders and related party has a better effect on financial perfor-mance of the company; when only facing the institutional investors and natural persons, the sample firms' financial performance significantly improves but with greater volatility; financial performance facing both big shareholders and institutional investors is the worst.关键词
定向增发/因子分析/财务绩效Key words
Private Placement/Factor Analysis/Financial Performance分类
管理科学
