民营企业的发展困境和海外上市研究.doc

宁波大学硕士学位论文ResearchonthePredicamentsandOverseasListingofthePrivateEnterprisesAbstractTheprivateenterprisehasenteredthesecondundertakingstageaftergoingthroughthefirstundertakingforaccumulating,butfaceaseriesofnewproblemssuchaschangingtheidea,fosteringenterprisescompetitiveness,innovatingmanagement,etc..Thistextregardstheprivateenterprisewhichisonthesecondundertakingstageastheresearchobject,analyzesespeciallyonthefinancingandcorporategovernancequestiononthebasisofanalyzingthepredicaments,thinksoverseaslistingisaneffectivewayforsolvingthesetwomajorpredicaments,andanalysestheconcretewayandtheeffectsofoverseaslisting.Firstofall,thearticlehasanalysedthewholeevolutionandcurrentsituationoftheprivateenterprisesinourcountry,pointedoutthatsomeprivateenterpriseshavealreadyenteredthesecondundertakingstage.Theprivateenterprisesfacessuchproblemsinmanyaspectsasbrandmoulding,talentsmechanism,propertyrightstructure,managementandadministration,financing,etc.Tosumup,thistextthinksthefinancingandcorporategovernancearethetwogreatfundamentalpredicamentsthattheymeetindevelopment.Secondly,thearticlehasanalyzedthefinancingandcorporategovernanceoftheprivateenterprisesthoroughly.Generallyspeaking,theoptimumcapitalstructurewiththegoalthatbeingmostvaluefortheenterprisesneedsthepluralismfinancingastheprerequisite.Inthesecondundertakingstage,becausetheprivateenterpriseshavemetpredicamentinstockfinancing,theycan’tgettheoptimumcapitalstructurewiththepatternthatinsidefinancingismainlyandtheoutsidefinancingrelysontheloanofbank.Afterwards,thearticlehascommentedthetwomodesofcorporategovernance,analysedemphaticallythecurrentsituationanddefectoftheprivateenterprises.Thearticlethinksthatthecorporategovernanceoftheprivateenterprisesiseffectualinthefirstundertaking,butinvalidlyinthesecondundertakingbecauseofthedefectsinadministratorchoosing,motivationandrestrain,propertydefineing,etc..Moreover,thearticlethinksoverseaslistingcanhelptosolvetheprivateenterprises’twomajorpredicaments.Overseaslistingcannotonlywide