A Comparative Study Of Interpersonal Meaning Of Prospectus Summaries In U.S Stock Market From The Perspective Of Appraisal Theory

In recent years,with the deepening and acceleration of economic globalization,China’s economy has been continuously opening up to the global market,which has extended to the securities market.Compared to A-share and B-share markets which are suffering from insufficient supervision,high investment thresholds,and only open to domestic listed companies,the U.S.stock market,as the most globalized stock market,is an ideal investment market for China’s individual investors and for enterprises that eager to open overseas markets and realize globalization.The prospectus is a written notice on the issue of shares when the company’s initial public offering(IPO)of shares.It is the most important document for a listed company to disclose its information and conduct public offering.The prospectus summary is attached in the beginning of the prospectus and is an indispensable part of the prospectus.It is also one of the most important references for investors to subscribe the stock of the company.For investors and companies seeking to join the US stock market,writing and interpreting the prospectus summary is an important part of their investment in the US stock market.Therefore,the linguistic features of the prospectus summary in the US stock market deserves attention and research.The research corpus of the present study includes the prospectus summary of three Chinese and three American listed internet companies from the US stock market which are listed in the Forbes 2000 digital economies.From the perspective of Martin’s appraisal theory,this thesis attempts to evaluate the prospectus summary from attitude,engagement,and graduation to conductevaluation analysis of the linguistic features of prospectus summaries in the US stock.The major findings include: 1.There are a large number of appraisal resources in the prospectus summary of internet companies in the US stock market.And these appraisal resources can effectively help companies realize various interpersonal meanings in the prospectus summary.2.In the attitude system,positive attitude resources are mostly used,while a small number of negative resources are mainly used to honestly disclose the possible risks and uncertainties in the company’s future development to investors.American companies are more subjective,employing more affect and judgment resources.3.Compared to American companies,Chinese companies adopt more heteroglossic resources in the engagement system to objectively express their stances and allow for different viewpoints.Among heteroglossic resources,the most used two resources are entertain and disclaim.Both Chinese and American companies tend to adopt more dialogue expansion to attract potential investors who hold different views.4.In the graduation system,both Chinese and American companies use a lot of upscale force resources to foreground their outstanding performance and high-quality products & services to attract more potential investors.