A Comparative Study On The Paths Of VIE Structure Companies Returning To The List

VIE(Variable Interest entity)is originally a financial concept,which actually means that a company is not controlled by the shareholding,while the consolidated financial statement is realized.The VIE structure in China is usually used to help some companies go to overseas.For most of the VIE structure companies,because of the high threshold of profit in Chinese capital market,and public offering in foreign is limited by industrial policy,so they chose to set up the VIE structure passively.In the first half of 2015,the Chinese capital market was hot,thus more and more VIE structure companies expressed their willingness to return from the abroad to the Chinese capital market.In this paper,applying the knowledge and theory of management science and law on the concept and the basic frame of the VIE structure,analyzing the reason of Internet enterprises built VIE structure,the reason of the VIE structure companies return to the Chinese capital market and the three main paths.Selecting three representative VIE structure companies which are Storm Group,Giant Network and Fang Holdings Limited.From the aspects of case background,return process,and solving problems faced by companies,this paper analyzes the paths of returning to the Chinese capital market.Furthermore,this paper reveals the characteristics of each path and some specific problems should pay attention to.The paper summarizes the commonness and individuality of the three paths from the perspective of characteristics and concerns.According to the above research conclusions,the enlightenment significance of the three main bodies of VIE structure companies,regulators and investors is further analyzed.