內(nèi)地企業(yè)上市融資模式比較分析.pdf

1、弋7／1223飯旦大學(xué)碩士學(xué)位論文(專業(yè)學(xué)位)學(xué)校代碼：10246學(xué)號：022025494內(nèi)地企業(yè)上市融資模式比較分析系專(所)：管理學(xué)院業(yè)：工商管理姓名：宋益群指導(dǎo)教師：陳穎杰完成日期：2005年4月10日02205494柬益群內(nèi)地企業(yè)上市融資模式比較分析ABSTRACTTheeconomyofChinaisatthestageofrapiddevelopment，thusincreasestheneedsoffinancingfor

2、thePRCenterprisesHowever，mostPRCenterprises，especiallythesmallandmediumones，arefacingdifficultiesinfinancingRecently，asequityfinancingbyshares1istingoverseasbecomesprevail，howtopreciselyselectthewaysandmethodsofequityfin

3、ancingbyshareslistingbecomesanimportanttopicforthedevelopmentofthePRCenterprisesInChinaPRCenterprisesarefamiliarwithequityfinancingbylistingasA—shares，buttheknowledgeofshares1istingoverseasisverylimitedAlthoughtherearein

4、troductoryarticlespublishedoccasionallYregardingtheshareslistingoverseas，therearelacksofcomprehensiveandsystematicstudiesandindepthunderstandingintheseaspectsThemainpurposeofthisarticleisbystudyingtheprosandconsofvarious

5、stockmarkets，andtrytofindoutthemostsuitablestockmarketandthemosteffectivewayofshareslistingforthePRCenterprisesviacomparisonofequityfinancingbyshareslistinginUSAHK，SingaporeandChina，togetherwithhugeamountofdataanalysisan

6、drealcasesstudiesThisarticlesuggeststhattheHongKong(HK)stockmarketshallbethepre—emptivechoiceforPRCenterprisesinrelationtoequityfinancingbyshares1istingcomparedtoothermarketsaforesaidintermsofthecombinedindexoflistingcri

7、teria，numbersandamountsoffinancingbyIPO，theculturebackground，andre—financingabilitiesBesides，themethodsofshares1istinginHKareplenty(shareslistingasredchips，H—shares，backdoorshareslisting，thecombinationofAandHshares)provi

8、detailot—madesolutionsfordifferentindustriesofthePRCenterprisesAlsotonsofsuccessfullyshareslistingcasesofthePRCenterprisesintheHKstockmarketcanbeusedasreferencesandexamplestothePRCenterprisesnovicesDuetothedifferenceinth

9、ebackgroundofculture，laws，andtheexecutionoftheSOXrules。thecostsandrisksofequityfinancingbyshareslistingofthePRCenterprisesinUSAstockmarkethavebeenincreasedtremendouslYA1so，therearetrapsinrelationtothebackdoorshares1istin