Accumulation of Capital (Case Study of Capital Raising by Chinese Listed Companies)

Author: Tong Yan, Zou Li (editors)
Publisher:
Publishing Date: 2006-01-01
Features: "Financial Director Series #8226; Listed Company Case Series" is a sub-series of the "Financial Director Series," consisting of the following six books: "The Mystery of Numbers—Financial Analysis Cases of Chinese Listed Companies," "The Accumulation of Funds—Capital Raising Cases of Chinese Listed Companies," "The Distribution of Interests—Profit Distribution Cases of Chinese Listed Companies," "The Effect of Mergers and Acquisitions—Asset Restructuring Cases of Chinese Listed Companies," "Lessons from Failure—Financial Failure Cases of Chinese Listed Companies," and "The Cost of Violations—Fraud Cases of Chinese Listed Companies." The features can be summarized as: 1. All cases are drawn from the practical experience of Chinese listed companies, with concentrated and novel material that is close to Chinese realities. They include both successful experiences and lessons from failures. Whether successful or unsuccessful, these cases provide practical inspiration and guidance for corporate financial managers. 2. Each case provides a detailed description of the situation, followed by in-depth qualitative and quantitative analysis. Highlighted comments are included during the introduction and analysis of the case, and each case concludes with a theoretical summary that connects to practical application. 3. The selection of cases is both systematic and thematic, with a clear focus. The systematic aspect refers to the six books in this series covering the main content of financial management as comprehensively as possible. The thematic aspect refers to the focus of each book on a specific specialized issue of financial management. Capital comes from the accumulation of funds and is the prerequisite and foundation for a company's existence. A company is established and exists because of capital, and capital uses the company as a means and path for its appreciation. Due to this inseparable relationship between capital and the company, questions such as where capital comes from, how to sustain it, and how to coordinate it become issues that companies must seriously consider and answer. Listed companies that are adept at maneuvering in the capital markets use this ever-changing stage to interpret these questions in various ways. Based on extensive data collection and research, this book roughly divides a company's sources of funds into three parts: internal financing, debt financing, and equity financing, each of which includes several typical cases for illustration. This book uses multiple cases to explain the issue of capital accumulation from different perspectives of listed companies. While focusing on capital accumulation methods, it also touches on related aspects such as overall listing, the financing characteristics of private enterprises, and strategic alignment. The content is rich, the structure is well-organized, and it provokes deep reflection. In terms of case selection, it primarily focuses on listed companies in the domestic capital market, with some coverage of overseas listings. In terms of case content, it includes both common financing methods such as bond issuance, rights offerings, and additional offerings, as well as more specialized methods like convertible bonds, along with comprehensive multi-channel financing cases. In terms of case commentary, it includes both comprehensive summaries at the end of each case and insightful comments that run throughout the case.