Research On The Impact Of China's Capital Market System On The Selection Of Overseas IPO In The Online Video Industry

Along with the continuous development of the Internet economy,the online video industry under the Internet segmentation field has also shown a leaps and bounds trend,and a large number of online network video vendors have emerged.The online video industry is currently facing a series of problems such as piracy infringement,content homogeneity,and profitability.On the one hand,it is a huge loss every year,on the other hand,it is a large amount of capital demand,and the online video industry is difficult to finance.Failure to meet profitability conditions and the stagnation of domestic financing channels has become an urgent problem for the industry.This paper analyzes the current situation of overseas IPOs in the online video industry,and believes that the reasons are attributed to the difficulty of domestic financing,the participation of foreign venture capital funds,the high domestic listing threshold,the perfect foreign regulatory environment and the appreciation of intangible assets overseas.Then through comparative analysis of the issuance review system,shareholding structure system,venture capital fund system,and information disclosure supervision system under different capital market systems.It is believed that the US capital market system is more conducive to the development of the online video industry.There are many problems in China's capital market system,and we should learn from the US capital market system to achieve reform.After that,this paper analyzes the process of IQIYI's listing from Nasdaq to the Nasdaq,and closely combines the imperfections of China's capital market system to influence the selection of overseas IPOs,focusing on the example of IQIYI.The industry's unique financial measurement method has led to its huge losses that do not meet the domestic listing conditions,and its financial analysis with the US online video company Netflix,analyze the reasons for its losses,and further recommendations for its future development direction.Finally,in view of the phenomenon of overseas IPO in the high-quality online video industry,this paper Video Industry——Based on the Case Study of IQIYI believes that the main reason is that China's capital market system is imperfect.In order to guide high-quality enterprises to list in domestic financing,it is suggested that China's capital system needs further improvement and reform.