Based On The Analytic Hierarchy Process Of China's Gem Investment Research

September 25, 2009, ushered in China's capital market, a special group of listed companies, after their successful listing marks 10 years of careful preparation, GEM (Growth Enterprises Market) boar was finally born. GEM is the motherboard, the high-growth small and medium enterprises, high tech and emerging industries to facilitate the development of enterprises financing channels, and preference for risk-based investors an efficient secondary market transaction. Compare to the NASDAQ in United States and AIM in the United Kingdom, our GEM absorbed from the motherboard market with less experience, the phenomenon of blind investment and more serious investors. However, the growth enterprise market which not only reflect the high risk market, but also a reflection of the increasing scientific and technological innovation for small and medium enterprises to improve attention. Firstly, in the nature of the GEM and affect the fundamentals of listed companies a comprehensive analysis based on the use of AHP to solve the problem of the basic steps, through access to a large number of stock-related information and stock investment experts to investigate to determine the most influential among the select equity investments GEM factors, and seek out the weight of each factor and the establishment of AHP model. Then, according to China's macro-economic policy, especially national " National Twelfth Five-Year Plan " the proposed energy saving, new generation of information technology, biotechnology, high-end equipment manufacturing, new energy, new materials and new energy automotive industry development policy, select the GEM Listing Company representatives of various industries in the enterprise, from which optimized the investment value of stocks with high instances of the model validation, the model offers practical basis for further improvement.GEM is not a new product, such as China's Hong Kong in November 1999 on the establishment of the Growth Enterprise Market. It is independent from the one main board securities market, its main purpose is to provide funding sources for emerging companies to help them develop and expand their businesses. Usually companies listed on GEM most hi-tech business, not negative with high growth potential, but, as these companies were set up relatively short, small-scale market in general at the exploratory stage, the risk is still very uncertain Large, whether it is combined with the actual situation of Hong Kong GEM market, or review the NASDAQ, after all, truly successful leap, and one of the few. Therefore, AHP investment on the growth enterprise market depth theoretical and empirical research to understand the correct theory of GEM investment situation and development trend of great significance.