深圳和而泰智能控制股份有限公司股票回购的财务效应及对策分析.docVIP

PAGE 18 PAGE 1 摘 要 随着股票回购相关政策的制定，许多上市公司的股东或高管会纷纷选择回购因为股票回购行为能够有效的稳定股票价格、提高市场价值等因素。由于实施股份回购可能会影响公司的股价、经营业绩和经济利益等财务指标，这种影响通常称之为财务效应。因此，本文是以深圳和而泰智能控制有限公司为例基于宏观经济环境和公司地经营状况，通过深圳和而泰股份有限公司股票回购行为来分析股票回购对企业的影响，采用杠杆假说，财务灵活性假说，信息传递假说为基础来分析和而泰公司股票回购的动因和财务效应，从而提出有效的政策性建议，进行调整公司股权结构和资本结构的资本运作，增加财务灵活性和稳定公司股价作用。通过探究和而泰股票回购可以改进的地方和存在的问题提出对策。具体要求：通过企业对过去和现在的股票回购市场现状、股票回购的各项措施、政策等进行剖析来深入分析,并指出在和而泰公司股票回购的过程中存在的问题和提出对应的解决对策,使公司优化公司资本、增加财务灵活性和稳定公司股价，进而对企业以后的发展产生一定的益处和借鉴。 关键词： 股票回购 回购动因 财务效应 解决对策 Abstract With the formulation of relevant policies on share repurchase, many shareholders or executives of listed companies will choose to buy back one after another because share repurchase can effectively stabilize the stock price and increase the market value. Because the implementation of share repurchase may affect the companys stock price, operating performance and economic benefits and other financial indicators, this impact is often referred to as the financial effect. Therefore, this article is based on shenzhen Thai intelligent control co., LTD as an example and based on the macroeconomic environment and company operating conditions, by shenzhen and tai co., LTD., stock repurchase behavior to analyze the impact of stock repurchase to enterprise, adopting lever hypothesis, financial flexibility hypothesis, analysis, and based on the information transfer hypothesis and Thai company stock repurchase motivations and financial effect, so as to put forward effective policy advice, to adjust corporate equity structure and capital structure of capital operation, increase the companys share price on financial flexibility and stability. Through the exploration and the Thai share buyback can improve the place and the problem put forward the countermeasure. Specific requirements: through the enterprise of the past and the present stock repurchase market present situation, analyzes the measures, such as policy of stock repurchase in the in-depth analysis, and points out that in the process o