The Research On The GEM Growth Evaluation Of SMEs In Liaoning Province

September 25th,2009, China Growth Enterprise Market (GEM) which has been prepared for decade-long started to issue new shares. There were 28 small and medium enterprises (SMEs) financing as the first batch of it. After a year's development, more and more small and medium enterprises have successfully listed on the GEM, and there have been 123 enterprises China's GEM by September 30th,2010. However, there are only 3 companies belonged to Liaoning Province. Mainly because of that GEM has reduced the listing threshold, but has improved the requirements of the growth of listed companies at the same time. The enterprises that could not get to the standards will naturally be made eligible for listing on GEM. Therefore, the author builds the growth evaluation model of SMEs in Liaoning province of GEM listing, according to the combination of characteristics of small and medium enterprises in Liaoning Province and the requirements of the GEM for listed small and medium enterprises, to evaluate and analysis the growth of SMEs in Liaoning and provide the theoretical basis and practical guidance to them.This paper consists six parts. The first part is the introduction, includes the research background, significance, research, innovation and technology roadmap. The second part is the correlation of theory, by the study of SMEs, and SMEs GEM growth, the author defined and the relationship between the GEM and the growth of SMEs. By consolidation of the study of SMEs Growth Evaluation of domestic and foreign scholars, the author lay a solid theoretical basis for the following building the evaluation of the GEM model of growth of small and medium enterprises in Liaoning Province. The third part is the analysis of the financing situation of small and medium enterprises in Liaoning Province. In this part, the author clarifies the urgent needs for the SMEs in Liaoning Province to list on the GEM, points out the imbalance situation between the demand and the financing situation of small and medium enterprises in Liaoning province, and indicates the necessity and urgency of building the GEM growth assessment model of the small and medium enterprises in Liaoning province.The fourth part is the built of GEM Growth Evaluation Model of the small and medium enterprises in Liaoning Province and its Empirical Analysis. First of all, by summary the relevant research of domestic and foreign scholars on SMEs growth evaluation model, combined with the relevant requirements of the GEM and its own characteristics of small and medium enterprises in Liaoning Province, the author determines 5 categories and 18 indicators such as the financial condition and ability to grow capacity to govern, research innovation, marketing and public relations capacity and macroeconomic factors, as the index system of GEM growth evaluation model of the small and medium enterprises in Liaoning Province. And by the way of questionnaire and using analytic hierarchy (AHP), the author determines the weight of each index, defines the value of each index and the non-dimensional approach, takes the weighted average method and gray analysis to the quantitative and qualitative indicators, in case to form a complete Liaoning GEM of SMEs growth evaluation model. Then the author takes Shenyang singsong Robot & Automation Co., Ltd. an example to do the empirical analysis and confirms the validity of the evaluation model. In part IV, the author uses the model built in part V to evaluate the growth of SMEs in Liaoning Province, analysis the evaluation results, and give the corresponding countermeasures and suggestions from corporate governance, research and innovation, market development, government support and other aspects. Part VI of the paper summarizes the results of this study and the lack nesses, and clears the direction for future research.By building the evaluation system of GEM growth of SMEs in Liaoning province, the author hopes to be able to enrich the theoretical research of enterprise growth assessment, as well as to have some guidance and enlightenment to SMEs in Liaoning province to prepare to list on GEM.