Research On Comprehensive Performance Evaluation Of China's New Third Board Enterprise Based On Tiered System

The new third board market is the largest basic OTC market in China,and the main function is to alleviate the high-tech and high innovation of small and medium-sized enterprises financing difficulties.The new third board market is an important support for promote China's national economic growth and construction of Innovative countries.The new third board with access threshold is relatively low,efficient and convenient financing services and other advantages,making the number of listed companies blowout growth,and comprehensive performance level is to maintain business survival and development in the fierce market competition.The essence of the tiered system is to provide a diversified and efficient financing platform for the high-quality enterprises entering the innovation level.The enterprises of the basic level and the innovation enterprises are differentiated in terms of the trading system and the distribution model.In the background of the tiered system,the comprehensive performance level is the main source to improve the competencies,but also the basis to obtain the development opportunities.Therefore,the research on comprehensive performance evaluation of China's new third board market in tiered system,it is of great significance to promote the comprehensive performance level of listed companies,the core competitiveness of enterprises and market position.In this paper,from the perspective of theory and empirical research on comprehensive performance evaluation of China's new third board market in tiered system.Firstly,explaining the concept of performance,performance evaluation and comprehensive performance evaluation,analyzing the relevant theories of the new three board market,the tiered system and the current level of the listed enterprises from the perspective of quantity,distribution and so on.Secondly,analysis the influencing factors of the comprehensive performance of the listed companies.Designing the evaluation index system,including the economic performance,innovation performance,scale performance and social performance.Construct a static evaluation model based on entropy and catastrophe progression and the model of dynamic comprehensive evaluation.Thirdly,this paper makes an empirical analysis on the current level of development and future trends of the comprehensive performance of different level enterprises,and explores the reasons for the formation of the evaluation results.Finally,on the basis of the evaluation results and analysis of the causes,the paper puts forward some suggestions on how to improve the comprehensive performance of listed companies.