Study Of Abroad-listing Of Chinese Internet Enterprise

In recent years, driven by national strategy, Chinese internet industry has achieved great development and gives strong support for national economic development and people's living. In the last 10 years, internet companies which provide network application services, rapidly develop and a number of well-known enterprises have emerged. Because of the domestic capital market imperfection and so various reasons, their domestic financing is greatly restricted. international capital markets provide for these emerging enterprises a good platform for financing so they can make use of abroad-listing to realize their dream of bigger and stronger.This paper conducts a systematic study of the phenomenon of overseas listing of Chinese Internet companies, advises Internet companies in China making practical action to enhance core competitiveness by reasonable financing. The first section is background knowledge and relevant theoretical summary; the second is divided into Chinese Internet industry overview and the status of Chinese Internet companies listed overseas, make overseas listed Internet companies motives, locations and methods of analysis, Currently most Chinese important Internet companies have been listed overseas, mainly in the US Nasdaq market and the Hong Kong Stock Exchange, raising funds to improve the company competitiveness is the major motivation for Internet companies to list overseas, listed modes are issuing depository receipts and the initial public offering, investors in the-misunderstanding of the Internet economy and domestic and foreign legal and regulatory are the main problems; the third chapter conducts an empirical analysis, The results show that overseas-listed of Chinese Internet companies issued earnings ratio and the first day returns are less than in the domestic market, the stock market performance within the year is not better than the foreign market portfolio, listed promoted the performance of the company; the last chapter puts forward some advice, Chinese Internet companies to list overseas should be made clear whether it is necessary for the development of a strategic choice, treat overseas listings rationally, to make list activities from their own reality.