| 7,80of the21th century, high technology, new business models, new energy, the power of innovation is leading companies of this era. Capital of the world for these innovative and entrepreneurial strength of the support played a huge role, Also to some extent, effective solution to the enterprise development fund is limited. GEM to growth of new enterprises as a target to support independent innovation capability of enterprises. Initially in1973after the establishment of a new market the U.S. NASDAQ in the world. And there are about the establishment of60new markets together.40markets are still actively trading.Currently, the best performance of the GEM exchange operation is the U.S. NASDAQ, U.K. AIM, and Korea Kosdaq. such as Germany GEM and Hong Kong SMEs board has been closed establishment of GEM, GEM model for inappropriate reasons for low market efficiency.GEM in China began in2009, the basis for a new generation of industrial development, and Chinese investors in high-risk investments to meet the high recovery rate. Chinese high-tech industries and emerging industries because the high-tech industry itself contains high-risk, making it difficult to obtain commercial bank lending opportunities.However, these enterprises through direct financing of GEM can raise long-term investment funds, investment funds can be put into production facilities and product R&D. GEM is a major help to establish the purpose of sustainable development of enterprises and industries.National industrial development and finance are inseparable relationship between financial development makes the sustainable development of the industrial structure, industry change, Korea’s industrial structure has changed between the two countries have in common is the proportion of primary industry gradually declined. China’s industrial structure is not only significant change, but also China’s tertiary industry trends show growth year after year.But South Korea’s industrial structure did not change after the year2000, while the show is basically a fixed proportion of all industry trends. Kosdaq market changes in industrial structure are obvious, such as pharmaceuticals, other services, semiconductor and other industries to increase the market value increased over100%more than in2006. GEM market value in China focused on machinery and equipment, information technology, electronics, pharmaceutical biology, the proportion of the market value of these four industries for nearly70%. Kosdaq and china Chinext could be said to realize the function of running their own GEM. GICS of this papers comparative studies of Kosdaq and chinext the GEM and GEM support the share of industries.Results, the Kosdaq and Chinext are different, the GEM analysis chart from the Chinese point of view, the position of Chinese industries is showing L-type, which means that Chinext and the China industry significant distance. Kosdaq analysis of the chart, information technology, communication services, the health care industry focus on the second side, and the information technology industry with the first side is very close to the location. We can see the direction of development of Korea and Kosdaq changes in industry structure have the same phenomenon.Overall, however, South Korea and the GEM of the industrial structure reflects the lack of financing for listed companies also rely on indirect financing, stock market investors, the investment is also poor, investment is shorter, lower level of information disclosure, non-tradable equity large proportion of the investment environment and cultural factors. |
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