Research On Financial Characteristics Of Listed Company On China Growth Enterprise Market

China growth enterprise market has operated more than two years since it started in october23rd,2009,and there are over200companies listed on china growth enterprise market. As the " cradle " of scientific and technological enterprise, the purpose of china growth enterprise market is to support he small and medium-sized enterprises,and provid effective financing channels for them.but as several years of operation, many problems has been concerned besides the contribution to national industry upgrading and innovation in technology.This paper researchs financial characters of listed company on china growth enterprise market based on the financial statements and financial index data of listed companies and try to put forward countermeasures from the perspective of government regulation and general investors.this paper takes the listed companies on growth enterprise market, growth enterprise market, the financial characteristics and financial statement analysis theory as the basic.At first, the paper makes a summary on the development status of foreign growth enterprise market and then summarize the experience and deficiency of foreign growth enterprise market.Secondly,the paper analyses the achievements and shortcomings of china growth enterprise market through summing up the concept, listing conditions and present situation of it.The shortcomings includes the industrial structure of listed companies is more reasonable, activate private capital and gradual improvement of the rules and regulations. Thirdly, the paper concludes the financial index system based on definition and description on financial characteristics.and then makes empirical analysis based on the financial statements by spss v17.0software. And eventually the paper finds that there are some problems such as artificially high value, lack of development potential and so on.Finally,in this paper,some proposals are put on a two angle aimed at the problem of discovery. Stringent listing corporate governance mechanism should be developed, proper listed companies should be chosed, behavior of market investment and financing should be regulated and guiding to innovation and development of listed companies from the perspective of government regulation;while ordinary investors should have basic financial knowledge, the rational allocation of funds, higher risk tolerance.