【2017年整理】论文定稿 - 副本.docx

本科毕业设计（论文） 题目：我国上市公司IPO融资成本问题研究 教学单位： 经济管理一系 专 业： 会计学 学 号： 1009061681 姓 名： 指导教师： 2014 年5月 PAGE \* MERGEFORMAT2 摘要 随着我国企业IPO热度持续上升，IPO融资成本也在节节攀升。这不仅会直接增加企业的资本成本，影响企业的融资、投资决策，而且还会在很大程度上损害投资者的利益，增加证券市场的运行成本。 本文基于国外学者对IPO融资成本的划分，将IPO融资成本重新整合成三类：直接成本、间接成本和风险成本；并按照该分类对各项成本的构成进行了全面梳理。再结合我国上市公司IPO融资现状及存在问题，提出影响IPO融资成本的因素；同时以佛慈制药为例，探讨了IPO发行成本的影响因素，最后提出了能够有效控制我国上市企业IPO融资成本的对策及建议。 关键词：首次公开发行； IPO；抑价  Study on IPO financing costs of Listed Companies in China ABSTRACT Along with the companies’ IPO has been continued in our country, IPO financing costs are also raising. It will not only increase the capital costs of enterprises, and directly affect the financing and investment decisions of enterprises, impact the value evaluation results of the enterprises and the strategy analyses which based on the results above ; but also will damage the interests of investors, and to a great extent, increase the operation costs of the stock market. This paper integrates the IPO financing costs into three categories: direct cost, indirect cost and risk cost, which based on Ritter’ research. According to the classification, we make a comprehensive analysis and describe for the composition of all costs, and then we combine with the present situations of IPO financing and existing problems of the listed companies in our country, putting forward eight main factors affecting Chinese IPO financing costs. Meanwhile, taking Foci-pharmaceuticals as an example, we discuss the influence factors of IPO financing costs from the micro level, which will provide some references for the IPO financing decisions and the financing costs control. At last, we put forward a number of counter measures and suggestions from the macroscopic and microscopic aspects, which could effectively control IPO financing cost of listed firms in China. Key words：IPO；financing costs；IPO under pricing；Enterprise Quality；Disclosure of information  西京学院本科毕业设计（论文）