Research On Motivation And Performance Of Overseas Listed-Chinese Internet Companies

Driven by the trend of the economic globalization,transnational equity financing has developed rapidly.The Chinese Internet companies have been swimming in overseas capital markets for a long time and experienced five upsurges of overseas listings.Up to now,the percentage of the Internet companies listed overseas reaches 64.80%,accounting for the most of the listed Internet companies.Many Internet companies choose overseas listing,the motivation of which is worth exploring.The financing effect and development of Internet enterprises after overseas listing are also the focus of attention at home and abroad.This paper chooses Alibaba,an Internet giant listed overseas,as the case study object,in order to analyze the motivation of overseas listing and evaluate the effect after listing.By means of studying this typical case,the reasonable suggestions can be given to the Internet enterprises planning to be listed and overseas listed Internet enterprises.This paper first discusses the theoretical basis of overseas listing of Internet enterprises,and introduces the general situation of overseas listing of Chinese Internet enterprises from a macro perspective.Then from the perspective of the microanalysis,the paper discusses the overseas listed Internet companies' location,listing mode,listing costs,amount of financing,post-listing performance and other aspects of the status quo.This paper,based on the case study of Alibaba overseas listing,from the perspective of internal and external analyzes the motivation of overseas listing,and evaluates the effect of overseas listing in three aspects of equity value,financing,financial performance.In addition,the problems and potential risks after Alibaba's listing are explained.Through a series of analysis,Alibaba overseas listing case enlightenment was obtained.Finally,this paper gives the corresponding suggestions to overseas Internet enterprises listed and planning to be listed.For the Internet enterprises to be listed,they should not only rationally think of the overseas listing,but actively consider the domestic listing,As for the Internet enterprises listed overseas,first,they should strengthen information disclosure to guard against short risk,;second,they should clarify the main business to improve the core competitiveness;third,they should adjust the financing strategy to return to the A-share market.