Research On The The Motivation Of Chinese Internet Companies In The United States Listed IPO

Overseas listing is affected by many factors, such as listing conditions, corporate governance structure, the size of the financing, stock issuing system and so on, A summary on foreign research showed Segmented Markets Hypothesis, Bonding hypothesis, investor recognition hypothesis, liquidity hypothesis, signaling hypothesis and investment protection hypothesis. In this paper, the theoretical analysed on the motivation of Internet companies listed on the United States were analyzed., using multiple theoretical hypothesis to show that the active factors. These factors include information disclosure, cost of capital, financing, listing conditions, protocol control model, competitiveness and so on. The passive motivation includes herd behavior, risk preferences and the personal wealth maximization. Based on this, analyzes the causes of Alibaba listed on the United States, the main reason focus on maintaining management control, besides the listing efficiency, financing and the Improvement of corporate governance structure are also the reason.Then analysed the performance of Alibaba after the IPO and explained the problems and potential risks, these can be seen as the positive and passive motivation. Finally, giving advices on two aspects of the state and enterprises, the state should strengthen the system reform, Internet enterprises also need a rational look at the United States market, strengthen the disclosure of information, improve the internal control to prevent all kinds of risk.