Research On Transfer Plate Trading Evaluation System Of The New OTC Market

The maturity of a country's capital market plays a vital role in the sustained and stable development of the national economy.After 20 years of development and growth,China's multi-level capital market to accelerate the construction of the formation of the motherboard,small plates,GEM and the new three-board multi-level capital market.And the new three board market in full swing to the development,but also lead to the theory of the new three board-related issues,especially the new three-board market,the problem of continuous research.As the GEM's own financing capacity is strong,so that GEM companies generally lack the transfer board to the small board or motherboard power,and the motherboard and small plates tend to homogenization.The New OTC market as an active market,how to build a green channel,so that with the multi-level capital market at other levels to achieve a healthy flow,that is,how to better build a new board of three enterprises listed on the transaction evaluation system,The focus of this paper is also the core of the multi-level capital market system.The theoretical circles have made some achievements in the research of the new board market,but most of them have stayed in the aspects of the transfer board system,the information disclosure and the legal system,and the research on the evaluation mechanism of the transfer transaction on the micro level is less.The purpose of this paper is to study the new three-board transfer problem,in order to build a new three-board market and the GEM,small plates and other different levels of capital market,the transaction evaluation system,so as to China's multi-level capital market development and maturity to provide the necessary theoretical support And practical guidance.According to the different hierarchical structure characteristics of each board,combined with the basic functions of the various levels of the market,the separation and equilibrium model of the different levels of capital market is constructed with the core efficiency of the multi-level capital market as the core goal,To demonstrate the need to establish a new three board market transfer board trading mechanism.According to the actual operation characteristics of China's capital market,with reference to the new three-board market and the GEM,the market positioning of the small and medium-sized board market,the study of the new three-board market and listed companies between the transfer conditions,the formation of a new three-board listing of the standardized evaluation index system.In the process of article research,the scientific research method is used to construct the index evaluation system,the principal component analysis method is used to determine the index weight,and then the fuzzy comprehensive evaluation method is used to establish the transaction evaluation model of the new board.According to the different membership degree,the final evaluation result of the new three-board enterprise's board transaction evaluation system is divided into two types:the proposed transfer plate and the same.Finally,according to the sample timeliness and the focus of this paper,we will select the annual data of the new three board enterprises to carry on the empirical research,and whether to choose whether to choose the transfer plate to make the appraisal and the suggestion.