Statistical Analysis On Competitiveness Characteristics Listed On GEM

Chinese GEM have been push-off, most Small and Medium Enterprises choose this platform to listed. There are many studying on Chinese GEM, most are theoretic and forecast exploration which lack practice studying. The Statistical Analysis on Competitiveness Characteristics listed on GEM is being chosen as the topic of the dissertation. The aim is to find out the evaluated index and calculation method of each factor, which through systemic analyze competitiveness factors on GEM listed companies. Analyzing each index competitiveness characteristics and appraising GEM listed companies competitiveness objectively can lay a good foundation for Chinese capital market stabled and sustainable development can bring force for GEM and SME growth rapidly, can provide comparison and reference for other companies which want to listed on GEM.This paper sample data come from 50 companies which listed on GEM during October 2009 to January 2010. The GEM companies'prospectus and data were as foundation. Find out effect factors of competitive force based on Michael E. Porter's Five Competitive Forces model. According to the combining principle of scientific characteristic, rational characteristic, advisable characteristic and objective characteristic to choose evaluated index of effect factors and make sure calculation method and principle. Using statistic analysis method to describe and analyze every target which in five competitive forces—entry, threat of substitution, bargaining power of buyers, bargaining power of suppliers, and rivalry among current competitors. Statistic and analyze the influence of index factors, and then sum up the character of GEM.Through analyses find that GEM companies have high economics of scale and cost advantages independent of scale, the barriers to entry was high, the competitive force was strong enough to resist entry. On bargaining power of suppliers, GEM companies'backward integration degree low, the competitive force of bargaining power was weak. On bargaining power of buyers, GEM companies have high market occupy rate, buyers'switching costs high, company can resist buyers'threat. Most GEM companies were High and New Technology enterprise, their industry preference substitution, the high and new technology level can against threat of substitution effective. On rivalry among current competitors, from managing ability, capacity of profitability, and growth ability to study, the competing ability of companies stranger than rival current competitors. GEM companies have excessive idle funds, it have not used financial leverage effective. From industry chain, market and time see, the five competitive forces of GEM companies were inter-pervasion, companies'profit space determines by three-dimensional competitive forces.