The Growth Evaluation For GEM Companies Based On Catastrophe Progression Method

Since the reform and open policy come into force, our country economy sustained development has been achieved, and the financial system is part of the economic system, its healthy and orderly development has a very important role in keeping the continuous and stable operation of the economy. And the improvement of the multi-level capital market system is particularly important to the financial system, the growth of enterprise market which is a part of the multi-level capital market system plays a vital role in promoting market resources allocation and the healthy development of the entire capital market system. The enterprise market as the main market for the industry of high growth and new technology and much attention has been paid to since it was listed on the Shenzhen stock exchange in October 2009. The high price, high p/e ratio level occurs frequently which makes the social people from all walks of life pay special attention to the growth enterprise market. The growth enterprise market of the overall has close relationship with the growth of listed companies. Only that the growth level and the growth ability match with the strength of the listed company status, the growth enterprise can play a part in serving high-tech enterprises, optimizing market resources endowment and meeting the demand of market interest subjects. As a result, from the aspects of theory and reality, it is necessary to discuss the growth level of listed company in the growth enterprise marketThis paper firstly made a brief of the selected topic background and significance of topics, secondly analysis the perspectives of listed companies in the growth enterprise market reality of both at home and abroad respectively, and then systematically combing the theory of firm growth and mutation series methodology, based on the theory of the mutation to the back of the empirical research provides the theoretical reference and practical basis. an empirical study followed, the choice of sample is one of the first 28 companies listed on the gem market and data is selected from annual financial report of the companies in 2013.The research method include principal component analysis, mutation progression method to empirical research of sample companies, mainly including dimension evaluation, comprehensive evaluation and dimension simulation studies, Finally the Paper get the following conclusion:(1) the gem listed company’s growth is mainly affected by the development ability;(2) the growth enterprise market on the whole, the growth of listed companies of normal distribution, a more balanced;(3) there exist certain differences of the growth between individual companies;(4) the growth enterprise market growth present the regional characteristics of listed companies, mainly embodied in the "east is higher than west".This article mainly has two innovative points: the first is the research methods which using mutation progression method to discuss the growth of the sample companies; The second point is the research content, in addition to a single dimension of evaluation, this paper combined the comprehensive evaluation and add the index of the simulation analysis based on the existing evaluation results to...