Evaluation Method Based On The Investor Perspective The Value Of Chinese Companies Listed On GEM

Accompanied by the gradual development and perfection of the capital market, the GEM was launched in everyone’s expectations. Has experienced more than a year, an increasing number of companies listed on GEM; However, with the advent of the GEM, GEM different motherboard-the "three high" phenomenon popular. High issue price, high price-earnings ratio, and superb raised phenomenon not only seriously damaged the interests of investors, and the construction of the GEM has brought greater harm.Faced with such a high share price of companies listed on GEM, secondary market investors can not help asking in the end how the true value of companies listed on GEM and GEM listed companies and such a high stock price matching? Signed in this problem, investors need a reasonable assessment of the value of the GEM Listing GEM the valuation of listed companies, small; foreign and domestic research is more concentrated in the more mature on the Main Board listed companies, the value of listing on the GEM high-risk, high-yield, high-growth companies assessment study is even less.The combination of the strengths and weaknesses of the basic assessment method, by analyzing the characteristics of the companies listed on GEM, the ideas and methods for assessment of the characteristics of the companies listed on GEM.Analysis of specific cases to verify the correctness of the ideas. Specific analysis of the study also found some problems that need attention. This study evaluated the value of companies listed on GEM, there is some reference and reference.This article is divided into seven parts, all parts of the main contents are as follows.Part Ⅰ:Introduction. Describes the research background and significance of research ideas and research methods.Part Ⅱ:Research Summary. Conducted a retrospective study of domestic and foreign companies listed on GEM valuation.Part Ⅲ:The oretical analysis. Were defined to evaluate the concept of the value of companies listed on GEM, and analyze the characteristics of companies listed on GEM, provides the foundation and basis for valuation for companies listed on GEM.Part Ⅳ:The value of companies listed on GEM assessment methods and evaluation. Comparison and analysis of the basic method to draw the basic method of characteristics, scope and limitations.Part Ⅴ:The basic idea of the sub-GEM listed company valuation methods-quantitative evaluation and qualitative assessment of the combination. According to the characteristics of the companies listed on GEM, and the validity of traditional assessment methods and the lack of assessment ideas, and provides a theoretical basis and foundation for the back of the case studies.Part VI:Case Study-Wei Li billion valuation. Make their own assessment ideas based on the selected representative GEM listed companies-Wei Li billion as the case analysis.Part VII:The problems that need attention in the valuation of companies listed on GEM. On the basis of theoretical explanations and case studies, some of the issues that need to pay attention to the practice of valuation of companies listed on GEM.Part VII:The problems that need attention in the valuation of companies listed on GEM. On the basis of theoretical explanations and case studies, some of the issues that need to pay attention to the practice of valuation of companies listed on GEM.In this paper, normative research and case studies of combining research methods. To explore the valuation of companies listed on GEM, the case studies through qualitative and quantitative analysis of two methods to arrive at new ideas for the valuation of the companies listed on GEM, and found some problems that need attention in order to right investor decision-making and practical work has a certain reference value.Assessment of the value of the company, the main contribution of this article: This article was previously based, combined with the characteristics of companies listed on GEM, the use of qualitative analysis and quantitative analysis of the valuation method of combining the companies listed on GEM. Emphasis on the role of financial indicators in the evaluation process of the value of the company, not only pay more attention to the impact of non-financial indicators, assessment of the value of companies listed on GEM is more comprehensive and accurate latitude.