| In recent years,with the rapid development of China's economy,more and more innovative enterprises are active in the market,which brings constant energy to the adjustment and innovation of China's industrial structure.Most of China's science and technology innovation enterprises are in the early stage of development,with a large amount of capital demand.In addition,China's financial system is not perfect,resulting in limited access to capital,seriously affecting the development of enterprises.In order to broaden the financing channels for SMEs in China,promote the development of technological innovation oriented enterprises,and implement China's strategy of innovation driven and technology powerful nation,President Xi Jinping proposed setting up a Sci-Tech innovation board and a pilot registration system on the Shanghai stock exchange.Since the opening of the market,Sci-Tech innovation board has been running smoothly and orderly.At present,nearly 100 science and technology innovation enterprises have successfully listed on Sci-Tech innovation board.Sci-Tech innovation board is a new sector in China,which has many innovations in system design and so on.Studying the effect of enterprises listing on Sci-Tech innovation board will help to improve the overall quality of listed companies and promote the sustainable development of Sci-Tech innovation board market.This paper first summarizes the relevant literature of Sci-Tech innovation board,discusses the related theoretical issues of Sci-Tech innovation board,compares the differences between Sci-Tech innovation board and other boards,analyzes the development status of Sci-Tech innovation board from different perspectives by using data,selects Montage Technology Co.,Ltd as the research object,and analyzes the financial performance,governance structure and market reaction of Sci-Tech innovation board listed companies by using literature research,case study and other methods.It is found that the listing of Sci-Tech innovation board has a positive impact on the overall development of Montage Technology Co.,Ltd.However,in the early stage of listing,there may be the phenomenon that the management and operation efficiency of managers is reduced,and use efficiency is not high.Therefore,this paper puts forward relevant suggestions from the government,market and enterprise levels to provide practical guidance for other enterprises that want to be listed on Sci-Tech innovation board. |
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