Xi'an High-tech Enterprises Listed Overseas Risk Aversion Strategy

Going public overseas has beening become one important financing channel for Chinese high-technological enterprises. The practices and the cases of Chinese enterprises going public overseas indicate that the risk the enterprises confronted with outside is bigger than that of inside. The paper studies the main risks that high-technological enterprises of Xi'an may be faced with when going public overseas and puts forward corresponding evadable strategies for these risks.Basing on the related theories and methods in risk management, financial management, finance, investment management, statistics etc, this paper studies the high-technological enterprises of Xi'an going public overseas with the methods such as questionnaire investigation, experts interview and cases research to deeply analyze the risks of going public overseas, and builds up the identifying and evaluating index system. Then the Exploratory Factor Analysis and the Correlative Analysis are adopted to determine the main risk factors, namely the draw- up scheme of going public (place, time, cost, mode of going public overseas), enterprises' current operating situation, the high-technological enterprises' future developing strategies, the choice of recommender, the choice of accountant and lawyer, information disclosure, the power of the local Securities Regulatory Commission.Then, the corresponding evadable strategies are put forward basing on the main risk factors, viz. improving the enterprise's operating performance, enhancing enterprises' quality and building up the ability of international competition; having future developing strategies and the concrete and feasible scheme; choosing the place and opportunity of going public overseas carefully and choosing the large media-organizations with rich experience; enhancing and perfecting information communication and disclosure; enterprises which want to issue stocks should have at least two years' preparation; enterprises should have one professional team to run the process of going public overseas. In the end, the paper also brings forward some items to be considered of going public overseas for high-technological enterprises of Xi'an.