Study On The Evaluation Of The Value Of China’s GEM Listing Corporation

With the development of capital market and perfect, gem officially launched in 2009 to October 30 28 listed companies. This market as a supplement to the main board market, mainly in the services of high-tech enterprises and high growth can’t satisfy the main board listing conditions of access to small and medium-sized enterprises, which provides for the financing channels, better enrich the capital market of our country. Gem market since its inception, it attracted the attention of investors, therefore, the assessment of its value as investors concerned about an important topic.After several years of development, more and more the number of the growth enterprise market of listing Corporation, has been from the beginning of the 28 to 406, the company is usually high and new technology enterprise, has the growth is strong, has the characteristics of high yield, but also has the high risk, therefore, since the introduction of the gem, it the existence of the "three high" characteristics, namely, high growth, high return, high risk coexist, development and the GEM market has many problems such as the issuance of the price earnings ratio, which exist in the company is overvalued; raise funds mismanagement and performance is not stable. This paper carries out the factor analysis by the 153 GEM listed company by the end of December 31, 2010, obtain the comprehensive score ranking, ranking the main index analysis before the reasons and the impact the company value. Finally, according to the results of the analysis were standing on the view of the company and investors suggestions are put forward.This paper is divided into five parts, each part as follows:The first part is introduction. Mainly about the research purpose, significance, domestic and foreign about the value of the company’s literature review, research content, method and route. The second part is the theoretical basis. Mainly for the value concept connotation, characteristics of gem and SME board, main board and introduction of the factor analysis method. The third part is the evaluation of the growth enterprise market of listing Corporation value system. It focuses on selection of indicators. The fourth part is empirical. It is mainly by factor analysis and the conclusion and analysis according to the data of the 153 listing corporation to take. The fifth part is the suggestions. The main conclude at the company level and the level of investors’ suggestions.From the analysis GEM market, higher-value of the company’s main distribution in northern, eastern and southern China, according to the main factor, the value of the company’s value and the price earnings ratio of the shares of the stock is basically consistent, affecting the value of the key indicators of profitability, asset management, growth capacity and ability to service its debt; ability for independent innovation companies listed on the GEM of the impact does not meet expectations.