公司IPO未通过原因实证分析-.doc

周琼：公司IPO未通过原因实证分析 重庆交通大学 毕业论文 论题：公司IPO未通过原因实证分析 学 院 财经学院 年级专业 2010级会计学 学生姓名 学 号 指导教师 重庆交通大学 2014年  摘 要 如今，随着社会经济的不断发展，越来越多的企业想要通过资本市场融资，但是如今融资门槛及条件非常严格，这使得想通过此方法融资上市的企业频频受挫。随着2014年1月我国IPO重新开闸，想要上市的公司越来越多，但是从近年来公司上市的审核情况来看，许多拟上市公司都被证监会否决了，这其中不乏有资质很好的企业。从2009年的审核情况来看：主板和中小板发审委共审核发行申请259家，审核通过企业239家，未通过企业20家，其中首发13家，再融资7家。创业板发审委共审核发行申请74家，审核通过企业59家，未通过企业15家。2008年审核情况概述: 发审委共审核发行申请284家，审核通过企业250家，未通过企业34家，其中首发20家，再融资13家，企业债1家。 从这些数据来看，80%到90%的拟上市企业的IPO申请获得通过，但是就目前经济发展的速度来看，这样的上市速度还不能真正满足市场发展的需要。本文就对公司IPO未通过原因进行实证分析，梳理出一些未通过IPO的原因，希望可以对拟上市公司有所帮助。 关键词：IPO 上市标准 未通过原因 Abstract Nowadays, with the continuous development of social economy, more and more companies want to through the capital market financing, but now the financing threshold and the conditions are very strict, this makes the financing of listed companies frequently want to pass this method. As January 2014 ipos in China opened again, want to listed companies more and more, but in recent years, the company listed on the audit, many listed companies have been vetoed by the CSRC, that there is no lack of among them there is a very good qualification enterprise. From the perspective of the audit of 2009: the main board and small and medium-sized plate FaShenWei audit issue for 259, 239 approved enterprises, not through the 20 enterprises, including starting 13, refinancing at seven. Gem FaShenWei audit issue for 74, total 59 approved enterprises, 15 enterprises that failed. Review summary: 2008 FaShenWei audit issue for 284, 250 approved enterprises, not through the enterprise 34, started 20, of refinancing 13, corporate one. From these data, 80% to 90% of the listed companys IPO application approved, but look at the speed of economic development and the listed speed can not truly meet the needs of the development of market. In this paper, the empirical analysis of IPO failed reason, sums up the main reason.