国民技术股份有限公司超募资金研究.pdf

P P 2009 10 P PP P中:P久9久 “久丹PI78久七 :“与七 七 万七丹丹 七》，:PI七 “中I七 久I七 ，中: 99， I PI丹七9P9 》东七 P 七七“、 P七“PI 七PP七 ，: CP，七 I P Abstract Officially launched in October 2009 the gem market in China, it not only marks the diversified financing capital market in China has made substantial progress, meet the innovative small and medium-sized enterprises of science and technology independent innovation of financing needs, and stimulate the generation of the small and medium-sized enterprises, independent research and development for our country capital market kechuang enterprise progress provides the incentive mechanism and elimination mechanism, but up to now the gem is not perfect performance. Since its inception, gem has been criticized by all sectors of society for its high ipo rate, high ipo price and high ipo amount. As a result, gem has been labeled as circle money, and the low efficiency of ipo funds has become an increasingly prominent problem. Due to the CSRC and the relevant departments of the capital market supervision and management of funds raised in excess of the lack of specific institutional constraints, the lack of investment funds raised a lot of super appeared, such as excessive investment and existing problems in the form of bank deposits, and because the total amount raised more than total plans to raise, lack of investment plan can cause a lot of idle capital, affects the efficiency of capital market allocation of resources. The gem listed companies the formation of super funds raised to and using effect as the object of study is very necessary, can make reasonable use of the listed company of super