Analysis On The Status Of Funds Raised By Listed Companies On GEM And The Benefit

Formally in October30,2009China’s gem, gem gone through to October30,2014five anniversary. By October30,2014400companies have listed on the gem, the financing scale exceeds270000000000yuan, the total market value reached2.28trillion yuan. Do poineering work board the market offers financing platform for the development of enterprises, especially to create a good environment for the development of high-tech enterprises, greatly improve the China technology innovation and R&D capability. But at the same time also has a lot of problems became a hot issue of social concern, especially the early opening more serious "three high" problem, namely the superb raise rate, high issue price, high P/E ratio rate.GEM companies hope to obtain funds through the IPO, solves the small and medium sized enterprises especially difficult financing of high-tech enterprises predicament, but China’s gem in obtaining funds at the same time there is a serious phenomenon of super raised funds, and ultra high rate, and lead to the low efficiency of the use of funds, to the listing Corporation, adversely affected investors and social resources. If the listing Corporation will be idle funds or abuse the under investment or over investment, reduce the fund use efficiency, deviate from the expectations of investors, the destruction of the optimal allocation of resources.There fore, the listing Corporation super funds raise present situation as well as the use of funds for research, hope to be able to improve the rational use of raised funds and investors concerned about the listing Corporation raised fund use and management awareness of the listing Corporation, in order to optimize the allocation of social resources to play a corresponding role.Related literature this paper from the listing Corporation of super funds raised, summary and the experience of the introduction and conclusion, the GEM Listing of the relevant rules and regulations and corporate financing theory, hand collected data analysis basic situation of China’s GEM Listing Corporation for nearly five years and funding situation, the analysis of the existing problems in the developing process; the other choosing a specific case analysis and data for verification, customer subjective deduction, analysis of super raised funds management and use, to summarize the influence of a large number of raised fund brings to the enterprise, think in the process of the development of enterprises in obtaining financing at the same time, if the improper use of the raised funds, so financing are to bring more the negative influence to the enterprise. On this basis, put forward the suggestion hope raised funds to play its due role, regulate market order.