Abstract
consulted to build a multiple regression model. Through the analysis of the empirical results,
the different impacts on the operating performance of the targeted additional issuance of listed
companies with different characteristics are explained.
The study found that the operating performance of the listed companies with the majority
shareholder as the subscription target of the private equity issuance is better than that of the
non-majority shareholder as the subscription target; The operating performance of the listed
companies subscribed by non-cash method is better than that of the listed companies subscribed
by cash method; There is a positive correlation between the discount degree of the private
placement and the operating performance of the private placement; There is a positive
correlation between the scale of private placement and the operating performance of listed
companies; The performance compensation commitment agreement will play a good role in
improving the operating performance of listed companies;The share-based compensation
agreed in the performance compensation commitment agreement has a more positive effect on
corporate performance than cash compensation.Based on the empirical results,the
corresponding countermeasures and suggestions are put forward.
Keywords: private placement; business performance; fixed increase scale; performance
compensation commitment; performance commitment compensation method
IV
。。。以下略