Study On The Effect Of The New Third Board Transfer To Branch Creation

New three board market since 2006 launched a pilot operation in our country,in 2013 ushered in the comprehensive capacity,since the number of companies listed on the new three board market began a spurt of growth,The construction of the new third board market is in line with the development trend of accelerating the construction of a multi-level capital market in China.For small and medium-sized enterprises,listing on the new third board can effectively alleviate the financing difficulties of enterprises.can effectively relieve the small and medium-sized enterprise financing demand and the problem of shortage of liquidity,but at the same time also brought a series of problems,such as turnover rate reduced year by year,clinch a deal amount and clinch a deal amount is too low,This will also limit the sustainable development of some potential enterprises.For this reason,many small and medium-sized enterprises will choose to transfer to a higher level of the capital market to relieve the financing pressure.Then,what is the effect of the transfer of the New Third Board enterprises? This thesis carries out a study.In this thesis,the case study of Jiayuan Technology’s listing on the Innovation Board from the New Third Board is carried out,and the logic of writing is sorted out by reading a lot of literature;Based on the data of the company before and after the transfer of the board as the entry point,the research is carried out through the two main categories of financial effect and non-financial effect before and after the transfer of the board.The financial effect as long as the study of the change of the enterprise’s traditional financial indicators;The non-financial index is reflected by four aspects: shareholder wealth,stock liquidity,enterprise innovation ability and corporate governance ability.In terms of analysis logic,this thesis firstly introduces the Background of the board transfer,including the development status of the New Third Board market and the policy support of the board transfer,then analyzes the company’s board transfer motivation and process,and then analyzes the company’s board transfer effect.Finally,according to the effect of the company’s board transfer,it puts forward some suggestions for continued good development.The analysis results show that after Jiayuan technology transferred to the board,its financial indicators have been improved,and the company’s ability to resist risks has also been strengthened;As a result,the company’s shareholder wealth has been improved,stock liquidity has also been improved,innovation ability and corporate governance ability have been strengthened.