Research on Market Financing Efficiency, Derivative Risks and System Correction of NEEQ-Listed Companies
LI Zheng 1, WU Fei 2，3, LI Hua-min 3
1.School of Finance， Guangdong University of Finance and Economics, Guangzhou 510320, China; 2.College of Economics， Jinan University, Guangzhou 510632, China; 3.Key Research Base of Regional Financial Policy， Guangdong University of Finance, Guangzhou 510521, China
Abstract：
This paper studies the economic impact of corporate additional issuance and equity pledge on enterprises in the NEEQ. Research shows that additional issuance and equity pledge can both reduce the operational efficiency of enterprises and incur financial risks. In order to solve these problems, this paper studies the surrounding policy environment of enterprises and finds that a good soft environment can calibrate corporate behavior, thus reverse the original negative impacts. In view of this, to rationally and effectively constrain corporate financing behavior should start with building a three-dimensional system framework from the perspectives of the enterprise itself, the NEEQ system and the surrounding institutional environment.
LI Zheng， WU Fei， LI Hua-min .Research on Market Financing Efficiency, Derivative Risks and System Correction of NEEQ-Listed Companies[J] Economic Survey, 2017,V34(5): 153-158
2017 
