创业板首批28家上市公司成长性的研究.pdf

I Classified Index : CODE : 10075 : NO : 46010011006 A Dissertation for the Degree of Master of Business Administration Study on Growth of the First Batch of28 GEM panies Candidate:shilixin Supervisor:luoyong Academic Degree Applied Master of Business Administration Specialty: MBA University: HEBEI UNIVERSITY Date of Oral Examination: June ,2013 II III IV ?? 2009 年 10月 30日,创业板在经过长期的酝酿和准备后首批 28家公司正式上市,为高新技术企业和高成长型中小企业上市融资提供便利。创业板主要是为了解决中小企业融资难和高新技术产业化步伐缓慢的问题,有助于有潜力的中小企业获得融资机会,促进企业的发展壮大。创业板市场在我国起步较晚,发展尚不成熟,因此对创业板上市公司的成长性进行研究,具有较高的现实意义。本文阐述分析了企业成长理论及其演变,对企业成长性指标进行了分析,对创业板市场的发展历程进行了回顾,分析了创业板市场对高科技企业发展的作用,对中国创业板市场和美国纳斯达克市场从上市规则、上市行业和对上市公司的作用等方面进行了分析比较。本文旨在回答如何正确理解创业板上市公司的成长性、哪些因素会影响它的成长性、中外创业板市场的发展和区别等问题,这对于促进创业板健康成长、帮助投资者理性地分析和投资具有重要的实践意义。在以上研究的基础上,分别从市场建设、投资者角度和监管层面为提高创业板公司成长性提出建议,希望在促进创业板上市公司不断发展的同时,推动我国创业板市场健康发展。???创业板上市公司成长性政策建议 V A bstract On October 30, 2009, after a long period of preparation, the Growth Enterprises Market (GEM) was launched with the first batch panies officially listed, to facilitate public financing for high-tech enterprises and high-growth small and medium-sized enterprises (SME). GEM is to solve the financing difficulties for SMEs and the slow growth of high-tech industries, to help SMEs access potential finance opportunities and promote the development and growth of enterprises. GEM market had a late start in China, and the development isnot yet mature. Therefore the study of the growth panies listed on GEM isof high practical significance. This paper describes the analysis of enterprise growth theory and its evolution, business growth indicators, reviews the course of development of the GEM market, analyzes the role of the GEM on the development of high-tech enterprises. It also provides an analysis parison of GEM in China with Nasdaq in the United States in terms of listing rules, listed industry and the role of the panies. This papers aims to answer how to correctly understand the growth of panies listed on GEM, what factors will in