海外创业板市场发展状况及趋势研究  

The Development Condition and Trends of Overseas Growth Enterprise Market

作　　者：王晓津[1] 佘坚[1] 

机构地区：[1]深圳证券交易所博士后工作站,深圳518028

出　　处：《证券市场导报》2008年第7期21-25,共5页Securities Market Herald

摘　　要：本文对75家海外创业板市场基本概况、存在问题和发展趋势进行了分析。自1995年以来,海外创业板市场整体规模逐步扩大,交易日渐活跃,波动性较高;多采用附属于主板的设立模式,板块内部细化态势明显;新陈代谢率高,开设和关闭时间较为集中。同时,海外创业板市场在发展过程中面临着上市资源不足、规模化运作压力较大和市场监管难度较高等问题。海外创业板市场的发展趋势主要体现为:市场集中度趋于提高,两极分化的格局基本形成并向纵深发展;公司化运作和并购重组将更加明显;全球范围内的上市资源争夺将成为各创业板市场竞争的主要策略;上市公司行业结构差异化将更加明显。This research analyzes the presence, problems and trends of 75 overseas growth enterprise markets. Since 1995, the scales of overseas GEMs are increasing, the trading is getting more active, and the volatility is getting higher. Most of the overseas GEMs are attached to the main boards. They have more detailed departmental segmentation, high metabolism, and concentrated time of opening and closing. Meanwhile, overseas GEMs are facing the problems of insufficient listing resources, high difficulty in regulation, etc. The future trends of GEM development include： increased market concentration, deepened polarization, tendency of demutualization and M＆A, global competition in the listing resources, and differentiation of industrial structure of listed firms.

关 键 词：海外创业板市场 创业板动态 创业企业 上市资源 

分 类 号：F830.9[经济管理—金融学]