| In order to effectively solve financing problems of the small and medium-sized enterprise, especially the small and medium-sized enterprise with high-growth potential, Shenzhen stock exchange launched GEM market in Shenzhen in2009after having brewed and repeatedly researched Hong Kong and Nasdaq stock market experiences for about10years. Since then the GEM era has created in China, which provides a lot of small and medium-sized enterprises, especially small and medium-sized science-and-technology enterprises with high-speed development, with a huge financing opportunities and development opportunities. However, as far as companies’current issuing shares and their present performance on the GEM are concerned, there exists many problems. For example, prices are too high, the valuation is too high, the rate of interests is too high, speculation is prominent, high-tech content of the company is to be developed, the company’s growth is suspicious, etc. This thesis takes the GEM board market and companies listed on the GEM market as the research objects, makes the comprehensive analysis and comparison on the differences of overseas GEM market supervision system and its supervision system. It is pointed out that there does exist some main problems in China’s enterprises in the process of market operation and its supervision. For example, the security supervision and regulation of the external environment condition is not sound; the independence of security regulatory body is not enough, the system of getting out of GEM market is not perfect, the disclosure of market information is not in order, the problem of company executives’leaving with cash is serious, etc. Aiming at these problems, the thesis puts forward the corresponding countermeasures of strengthening our country GEM market supervision and effectiveness of countermeasures. provides the theoretical basis and decisive guidance for the government and supervision departments in terms of the implementation of effective supervision in order to promote the development of China’s GEM market healthily and stablv. |
