Research on the Refinancing Problem of Shanxi’s Listed Resource Companies

The listed companies are outstanding representatives of enterprise groups in China that have a significant influence on the national economic development and the industrial transformation. Their choices of financing behavior are not only transparent but also have a model effect. This chapter examines the refinancing behavior of Shanxi’s listed resource companies from two aspects, general and group characteristics. The study finds that the current refinancing selection of Shanxi’s listed resource companies is a combination of results of Shanxi’s resource-based economic structure, the development cycle of the coal industry, the influence of the state-owned assets management system, the policy and social governance environment, the level of the enterprises’ own development and other factors. The chapter also puts forward some policy suggestions on various factors influencing the refinancing of Shanxi’s listed resource companies.