Research On Plight Of Legal System Influencing Finance Of Companies Listed In NEEQ

NEEQ1 is a national Securities Trading market which was approved by the state council and established in 2006.It is quite “young”in our country's securities market,with its unique target: Providing a financing and transfering shares platform for Small and medium-sized science and technology as well as innovative enterprises.Using capital market to promote the rapid development of small and medium-sized enterprises.Since the establishment of the NEEQ,it also has been trying to complete its mission-----lots of Small and medium-sized companies have successfully grown into Mature large enterprises through several rounds of financing and nurturing in this market.But with the advancement of the NEEQ,some Legal system defects in this market exposed gradually under the test of practice,combined with the development of market has entered into a new stage,but many Legal system is not keeping pace with the development of practice,leading to many enterprises in NEEQ fall into financing dilemma and the role of its financing platform can not fully play out.Because of the purpose of establishing NEEQ is to provide financing service to the majority of small and medium enterprises new,so the threshold of entering the market arrange very low.The state council decided to expand the scope of companies in NEEQ to the nation in 2012,and the number of enterprises listed in NEEQ drastically increased due to the national favorable policies and Legal systems.By the end of 2016,the the number of enterprises listed in NEEQ have broken through ten thousands.But on the other hand,numerous listed enterprises have encountered "winter" in the aspect of financing and cannot get a satisfying development funds because of investors' enthusiasm of investing in NEEQ is not high.To study the causes of this unhealthy phenomenon is the purpose of this article.In the first part of paper,introducing the concept and development of NEEQ and clarifying elaborating the NEEQ's function and service object.Analysising the financing situation of listed companies through collecting and organizing related date from the website of NEEQ in the part of two.In the next chapter,it is one of the important chapter in this article and the writer try to analyze the reasons that causing corporate financing difficulties from the perspective of the legal system.Specifically,from the aspect of Market access system?Information disclosure system ? Trading system and Investor's access and protection system.In the fourth chapter,learning successful related experiences from American's mature capital market.In the last chapter,proposing some practical suggestions on the base of borrowing lessons from American and considering the truth of our country's capital market...