我国企业境内外上市融资成本的比较分析.pdf

我国企业境内外上市融资成本的比较分析 专业：金融工程 摘要：在中国加入世界贸易组织以来，我国企业开始将目光着眼于全球资本市场。 并且随着经济全球化的进一步深入，国际股权融资迅速发展，越来越多的中国企 业选择境外市场进行上市融资。而上市作为企业发展战略中的极为重要的一步， 影响着企业的方方面面。然而我国企业在境外上市获得其满意的融资额的同时， 也需要考虑其可能遇到的诸多弊端。本文运用比较分析的方法，以境内外上市融 资成本为分析对象，目的是通过对其上市前准备的机会成本，上市融资直接成本 以及上市后的风险成本进行对比分析，从而总结出企业境内外上市的利与弊，并 为企业境外上市的融资成本考量提供依据。 关键词：上市； 融资成本； 香港市场； 美国市场； I TheComparativeAnalysisofFinancingCostsof Chineseenterprises’listingeventsondomesticand overseasmarkets Major:FinancialEngineering(secondmajor) Abstract: Since China joined the world trade organization (WTO), Chinese enterprisesbegan to focus on global capital markets.Alongwith the further economic globalization and development of international equity financing, a growing number of Chinese enterprises choose overseasmarketsto gopublic instead of choosing Chinese markets. Listing is a really crucial step in the enterprise development strategy, affecting all aspects of the enterprise.The companieswhich go public overseas can always make great success on its financing event, but they still need to consider the problemsthey may encounter.This article appliesthemethod of comparative analysis to compare domestic listing costs and overseaslisting costs.Thepurpose isto analyze and summarize the advantages and disadvantages of overseas listing through analyzing and contrastingthe costshappened duringthepreparation,the listing events and their further operation. Therefore, this article can provide the basic information concernedtothefinancing costsfor enterpriseswhoconsider tolist overseas.. Keywords:listing; financingcosts; U.Smarket; HongKongmarket II 目 录 1导论1 1.1选题背景及意义1 1.2 国内外研究现状1 1.3主要研究方法2 2 我国企业境内外上市现状3 2.1我国企业在境内上市概况3 2.1.1 我国企业在上海证券交易所上市融资概