Research On Inland Gem Development In International Perspective

In the background of capital market gradually opening of our country, this paper summarizes the development advantage and problems in the Inland GEM, learns from the successful experience of the overseas GEM, analyzes the relationship among the Inland GEM, Main Board and SME Board and then construct the growth evaluation model of listed company from financial strength, operation ability, human capital strength and the technical innovation ability. Because Inland GEM has formally being run just more than a year, its financial data is unable to reflect the listed company growth situation objectively. This paper makes empirical research on 18 listed companies' growth from 2006 to 2009 from Hong Kong GEM by using PCA method and validates the empirical results. Finally, there are some enlightenment elaborated on Inland GEM according to the growth evaluation result of Hong Kong GEM companies and the actual situation of Inland GEM.