| In the21st century, the domestic internet enterprises list rounds of hot flashes of overseaslisting. Until October2012,36overseas listing internet enterprises, without exception, all usethe VIE structure. The “Alipay event” in June2011caused the public to pay attention to theVIE structure and the risk of overseas listing internet enterprises. Many internet enterprises inthe overseas capital market face the problem of price fluctuation seriously, the businessperformance decline and even encounter lawsuits. These all show that overseas listing internetenterprises are facing huge risk. Therefore, establishing scientific and reasonable riskevaluation index system to correctly assess the risks has an important significance for theinternet enterprises.In this paper, at first the research background and significance, the domestic and foreignresearch present situation and laws and regulations, the relevant concepts are reviewed.Through the research of enterprise risk classification and referencing research results of manyexperts and scholars, this paper constructs the enterprise risk evaluation index systemhighlighting "VIE structure risk". Market risk, operational risk, legal risk and financial riskare selected as main risk indicators of overseas listing internet enterprise risk based on VIEstructure. Due to the particularity of VIE structure, in the analysis of the operation risk index,it emphasizes the decision-making risk and control risk. In the analysis of legal risk index, itemphasizes the policy risk and the legal risk of agreement. These indicators reflect theoverseas listing internet enterprise risk based on VIE structure. At last, empirical analysis isdone combined with the case of Vipshop, evaluating the risk using the fuzzy comprehensiveevaluation method, putting forward some measures of preventing risks.This paper provides a reference method for the risk assessment of internet enterprise,also provides reference for enterprise how to identify and prevent risks. |
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