The Research On Comprehensive Evaluation Of Growth To The Listed Companies Of Our Country's GEM

The NASDAQ market of the USA which is the first Growth Enterprise Market in the Global started in1968, and has been supporting a large number of well-known companies in the world, such as Microsoft, Apple, Google. The promoting of the NASDAQ for high-tech enterprises and the high growth businesses make it copy samples of the world.After ten years of the Preparation, the GEM of our country also started In2009October at Shenzhen Stock Exchange. Establishment of GEM is mainly for small and medium sized high growth of enterprises, high-tech enterprises and emerging companies to facilitate the financing channel for developing. It is the important financing platform for the implementation of China's independent innovation national strategy. It is the important complement to the construction of multi-level capital market system in our country.The primary feature of company is its growth, it is not only the focus of investors, but also the important indicator of government screening and regulation of listed companies. In the other word is the stone of the GEM. After more than two years of market testing, the attitude to growth of the listed companies for investors on GEM gradually turned wind-heat to rational analysis. What is growth? Which factors can influence the growth of the company? How to evaluate and compare the growth of listed companies? These problems always haunt investors and the people who concerned about the growth. The main idea of this research is to get the answers these questions. Based on the theory of industry growth of literature as well as analysis of the growth present situation of listed companies on GEM, we made a theoretical of the frame to analyze the listed companies on GEM growth provides, and then build the index system and comprehensive evaluation model. Last we made Comprehensive evaluation of the growth of listed company at the GEM market.This paper consists of six parts.The first chapter, introduction. Mainly introduces the research background, purpose and significance, summed up the current research on the comprehensive evaluation of growth enterprises situation of the theory by the domestic and foreign scholars, and put forward the research thought, method. The second chapter, the basic theory research. Introduce the origin, concept, character pro tiles of the GEM, describe the macroscopical environment and its necessity of growth for the listed companies on GEM. At same time introduces theory of enterprise growth theory which is basic of growth comprehensive evaluation of listed companies GEM.The third chapter, growth factors analysis of Chinese listed companies on GEM.Combination of enterprise growth theory and growth situation of listed companies on GEM, constructed the "external environment-internal resources-entrepreneur ability factors" three-dimensional growth analysis model. This model has provided the standard solution of how the, analysis and evaluation of growth of enterprises.The fourth chapter, construction of comprehensive evaluation mode for the listed companies on GEM growth. Mainly introduces the comprehensive evaluation model index system, and choose the evaluation method. And we get20indexes factor analysis which comes from external environment, the internal resources of enterprises, entrepreneur element.The fifth chapter, an Empirical study of comprehensive evaluation of growth listed companies. This paper randomly selected50Companies in GEM market in2010, use SPSS statistic software evaluate samples of the company's growth, and explain the results.The sixth chapter, conclusion and prospect. Mainly review on the research process and prospects the future research direction.