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企业管理作业——境外上市的成本风险Overseas listed cost risk

论文作者:www.51lunwen.org论文属性:短文 essay登出时间:2013-10-29编辑:yangcheng点击率:5755

论文字数:1339论文编号:org201310240905466688语种:英语 English地区:中国价格:免费论文

关键词:企业管理作业境外上市成本风险

摘要:由于大多数的民营企业上市的有经验的人员缺乏,所以中国企业去海外上市与投资银行的帮助下,首先需要有一个完整的熟悉海外市场的标准化程序和流程。然而,中介机构往往混杂,一些投资银行可能不完全适合这个业务框架,企业,投资银行之间的激烈竞争,为了吸引更多的客户,会有一些隐藏的行为,这些都将成为未来潜在的威胁。

当中国经济到市场经济的资本期后,公司的融资工具将更多地依赖直接在资本市场上融资。然而,由于当前中国的“强大的力量单一,”在资本市场结构中,加上国内股市由于各种原因,这导致的低迷,使企业(特别是小型和中小型民营企业)在境内通过上市融资变得非常困难:

When the Chinese economy into the market economy to the capital after the period , the company's financing instruments will depend more directly in the capital markets financing . However, due to the current China's " mighty force in single ," the capital market structure , coupled with the domestic stock market due to various reasons which led to the downturn , making enterprises ( especially small and medium private enterprises ) in the territory through the listing and financing becomes very difficult to : the overseas market is relatively mature , because of the rapid development of national economy is not listed resources are relatively scarce, and therefore , from the booming economy of China 's emerging market private companies are successfully listed in the overseas market . These enterprises not only raised the development of gold, more importantly, the entire corporate governance structure and operational levels because markets outside the strict supervision of listed companies which have made great progress . But this does not mean that all are suitable to private enterprises listed overseas . Which also contains a great risk , the risk can be summarized in this series of aspects.


民营企业在海外上市过程中需要承担较高的上市费用,维护成本高,如融资成本一般在纳斯达克融资金额的10%左右。在香港更是高达20%以上,即使在创业板上市成本,一般有15%至10%。

Private enterprises listed overseas process needs to assume a higher listing fees and high maintenance costs, such as financing costs on Nasdaq generally about 10% of the amount of financing . In Hong Kong is as high as 20% or more , even in the GEM costs generally have a 15% to 10% . Singapore listing fees lower, approximately 8% - 10%, while in the domestic main board listed , generally accounting for about 5% of the amount of financing , even if the market failure will produce about 300 million fee. SMEs in the overseas market, in addition to considering facing costly benefits and pay disproportionately huge market pressures difficult situation , we should also consider the future growth of enterprises , because of geographical and regulatory and other factors, listing the cost of maintaining the status of listed companies higher .


中国企业跟随国内资本市场,“圈钱”的逻辑思维,往往是从海外上市的瞬间融资动机,缺乏长期资本市场的发展战略。境外上市的公司每年聘请国际会计事项,审计和资产评估费是一笔不小的开支。
Chinese enterprises followed the domestic capital market, " misappropriating" logical thinking , often from overseas listed momentary finance motive , the lack of long-term capital market development strategy. Overseas listed companies annually to employ international accounting matters, auditing and asset assessment fee is spending a small fortune . In the United States , generally speaking , successful traded after a corporate annual maintenance cost of approximately 300,000 to 500,000 U.S. dollars , the cost of maintaining such a high for small companies is a great burden. In addition, after the listing of listed companies in order to maintain the image , but also in public relations, publicity, put a lot of expenses .

 For example, US-listed companies to maintain $ 50 million if you can not ( 350 million yuan ) more than the market value , bear the maintenance costs after the listing is very difficult. Few Chinese companies listed overseas as the "misappropriating ", once raise funds 论文英语论文网提供整理,提供论文代写英语论文代写代写论文代写英语论文代写留学生论文代写英文论文留学生论文代写相关核心关键词搜索。

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