Research On The Risk Of Initial Public Offering Base On The Enterprises To Be Listed On GEM

China's growth enterprise market after all the years of preparation, open board o in Shenzhen stock exchange n 23 October 2009. The establishment of GEM will provide a complete capital market support system for the China's high-tech industries, which will greatly promote the development of China's high-tech industries. GEM for building a sound capital market, venture capital exit channels and to provide effective solutions to SME financing, etc, will play an indispensable role. However, the GEM market in providing a lot of opportunities but also there is a huge risk. Therefore, the IPO on the GEM business risk analysis and propose appropriate measures to prevent, has important theoretical and practical significance.This paper choose the enterprises who want to list on GEM as a main body for research, using relevant theoretical knowledge of its listing on the risk management of the whole process the systematic, and studying to establish the relevant standards and model. Its purpose is to help enterprises to strengthen the knowledge of the IPO risk, rational treatment the GEM, strengthen self-construction, so as to effectively control risks and increase revenue.This paper mainly apply the risk management theory and research method as the guiding ideology, make the theoretical analysis and application analysis combining as soon as possible, use risk management theory, technology economics, finance, investment and financing management theory, financial management, strategic management application in enterprise for listing on GEM this particular project to study the risks. This study includes definition of the GEM IPO risk, evaluation index system and the IPO risk prevention and control.The article content eight chapters can be divided into four parts:The first part is the theoretical foundation and literature review, including chapter 1, 2.In the first chapter, mainly talked about the basis of the topic selection, the research purpose and the meaning and research ideas and content; In Chapter 2 (the theoretical basis and literature review), introduces the concept of the GEM-related (including the meaning of the GEM, characteristics, significance and the IPO process), and domestic and overseas IPO on the GEM research status of risk.The second part is the GEM IPO risk analysis section, including the 3, 4, 5 three chapters. Chapter 3 is an overview of the GEM IPO risk, introduces the meaning of the GEM IPO risk and the characteristics and classification (to be divided into systematic risk and non-systematic risk into two categories), the specific risk analysis started from the 4,5-two chapters; In the fourth chapter( IPO system risk analysis on GEM), introduced the policies and regulations risk and economic volatility risk, financial risk and social risk and growth enterprise market own risk; Chapter 5 (IPO unsystematic risk analysis on GEM), introduced the intermediary agencies choice of risk, the cost of listed risk, financial risk, the merger risk, the information disclosure risk and the IPO price of suppression risk.The third part is the 6, 7 two chapters (GEM IPO risk prevention), the sixth chapter ,which through in the basis of the IPO risk analysis ,constructed the IPO risk index system; Chapter 7 proposed to use the fuzzy mathematics method to sort the IPO risk, and finally proposed for the key risk prevention measures.The fourth part is case analysis and summary, including the chapter 8 and the summarized, in chapter 8 use A group as A case, according to the group's IPO risk analysis on GEM and puts forward prevention measures; Finally, summarized this paper and pointed out the paper of the deficiencies.