Under The Background Of Registration System,the New Three-Board Transverse Board Creation Motivation And Effect Research-to-Western Superconductivity As An Example

China’s capital market system is currently in a state of perpetual refinement and enhancement.And in this process,the persistent diseases exposed by the NEEQ market need to be continuously eliminated by national policies.The New Third Board’s market reform policy having been intensified,the government seized the chance to expedite the Science and Technology Innovation Board’s registration system,providing new opportunities for high-level enterprises to list on the Third Board.If enterprises on the New Third Board want to develop,a wise selection is the implementation of policy transfer.Western Superconductor has the chance to advance its technology and science through the Science and Technology Innovation Board.Based on the above background and the excellent performance of western superconductivity,this paper adopts a variety of research methods and uses western superconductivity as the background to conduct research.Firstly,beginning with the theoretical system,we analyze the impetus of plate transfer and then analyze the process,elucidate the effect,expose the issues in the practice,and offer proposals.Specifically,based on theory,this paper derives the motivation of enterprise board transfer,and summarizes the general effect of enterprise board transfer.In the case part,the development status of the western superconducting industry is analyzed,and then the internal and external drivers that cause enterprises to transfer to the board are summarized,the external motivation is that the science and technology innovation board has advantages over the new third board;Internal motivations include meeting capital needs,alleviating financial pressures,increasing market capitalization and brand influence.Finally,through the multi-angle study of the effect,this paper finds that the transfer effect is concentrated in the following aspects: in terms of market effect,Western Superconductivity enhances stock liquidity,increases shareholder wealth,improves valuation,and obtains more financing;In terms of governance effect,Western Superconductor reduces equity concentration and improves corporate governance;In terms of innovation effect,Western Superconductor has increased R&D investment,continuously declared patents for new inventions,improved its level of innovation,achieved new hard-core breakthroughs in science and technology,and become an industry leader;In terms of financial effects,Western Superconductor improved the financial position of the company and achieved outstanding performance.From this paper’s investigation,The conclusion is as follows: foremost,the quandary of enterprise growth can be resolved by the transfer of the board,and second,you may encounter some problems in the process of transferring the board and need to be prepared.Third,the transfer of listing can bring beneficial outcomes to the enterprise.the experience of the western superconducting transfer plate.In view of the three types of shareholder problems,higher cost problems and higher risks exposed by Western Superconductor before,during and after the transfer of the board.In this paper,we propose the following: Enterprises should strive to abstain from introducing three distinct types of shareholders and rectify the situation.Second,the relevant departments of the state should refine the new third board market and promote the improvement of the detailed rules for the transfer system.Third,improve your ability and develop yourself.In addition,for enterprises planning to transfer the board,this article also gives suggestions for rational view of the transfer board and full preparation.It is hoped that through the theoretical combing and case studies in this paper,it can provide reference for case enterprises,provide transfer ideas for enterprises to be transferred,and contribute to the benign development of multi-level capital market.