本文選題：IT企業(yè) + 境外上市　； 參考：《湘潭大學(xué)》2012年碩士論文

【摘要】：二十世紀(jì)末以來(lái),全球經(jīng)濟(jì)高速發(fā)展,區(qū)域經(jīng)濟(jì)集團(tuán)化和全球化趨勢(shì)越來(lái)越明顯,我國(guó)經(jīng)濟(jì)對(duì)外開(kāi)放程度越來(lái)越高。2001年，我國(guó)加入WTO更進(jìn)一步地促進(jìn)了我國(guó)經(jīng)濟(jì)“走出去”。從1992年華晨汽車作為我國(guó)第一家境外上市的企業(yè)“走出去”后，我國(guó)企業(yè)境外上市方興未艾。國(guó)外資本市場(chǎng)需要尋找新興上市資源,而我國(guó)國(guó)內(nèi)監(jiān)管政策也開(kāi)始松動(dòng),種種因素使得我國(guó)企業(yè)走出國(guó)門(mén)上市融資時(shí)機(jī)成熟。截止目前為止，我國(guó)企業(yè)境外上市共掀起了五次上市熱潮，而第五次熱潮中我國(guó)IT企業(yè)“獨(dú)領(lǐng)風(fēng)騷”。我國(guó)IT企業(yè)于最近十年迅速崛起，鑒于自身的特殊性，迫切需要解決資金“血液”問(wèn)題，但由于IT企業(yè)在國(guó)內(nèi)缺乏直接融資土壤以及撤出前期風(fēng)險(xiǎn)資本的需要等， IT企業(yè)紛紛轉(zhuǎn)向境外通過(guò)上市尋求資金出路。而此時(shí)，境外上市的國(guó)內(nèi)國(guó)外環(huán)境也在大大改善。以中國(guó)為代表的發(fā)展中國(guó)家IT產(chǎn)業(yè)成為全球新的經(jīng)濟(jì)增長(zhǎng)點(diǎn)，為投資所看好，大量的國(guó)際直接投資流向以中國(guó)為代表的發(fā)展中國(guó)家IT產(chǎn)業(yè)，我國(guó)隨著“75號(hào)文”的出臺(tái)對(duì)境外融資監(jiān)管政策也開(kāi)始松動(dòng)。在這種十分有利的國(guó)內(nèi)外環(huán)境下使IT企業(yè)赴境外上市有了現(xiàn)實(shí)的可能性。然而，風(fēng)險(xiǎn)總是與收益相伴而來(lái)，境外上市在為IT企業(yè)帶來(lái)發(fā)展所需資金的同時(shí)，潛伏的風(fēng)險(xiǎn)也隨之而來(lái)。IT企業(yè)應(yīng)做好風(fēng)險(xiǎn)功課，重點(diǎn)關(guān)注被資本市場(chǎng)危機(jī)“感染”的風(fēng)險(xiǎn)、發(fā)行風(fēng)險(xiǎn)、信息披露規(guī)制風(fēng)險(xiǎn)、持續(xù)融資風(fēng)險(xiǎn)及被國(guó)外機(jī)構(gòu)惡意做空的風(fēng)險(xiǎn)，上市后應(yīng)對(duì)好與投資機(jī)構(gòu)和當(dāng)?shù)孛襟w的溝通工作，通過(guò)其向投資者及社會(huì)公眾傳達(dá)對(duì)企業(yè)有利的信息。一旦發(fā)生意外風(fēng)險(xiǎn)時(shí)，應(yīng)在第一時(shí)間內(nèi)啟動(dòng)風(fēng)險(xiǎn)預(yù)警機(jī)制，積極主動(dòng)地應(yīng)對(duì)，而不是坐以待斃�？傊�，IT企業(yè)需要練好“內(nèi)功”，同時(shí)，，在上市前就應(yīng)做足風(fēng)險(xiǎn)防范“功課”，對(duì)上市過(guò)程中及上市后的各種風(fēng)險(xiǎn)應(yīng)有全面的認(rèn)知，建立全面的風(fēng)險(xiǎn)管理及應(yīng)對(duì)機(jī)制，采取合理有效的措施規(guī)避各種可能出現(xiàn)的風(fēng)險(xiǎn)，促進(jìn)企業(yè)健康良性地發(fā)展，在促進(jìn)我國(guó)IT產(chǎn)業(yè)發(fā)展壯大的同時(shí)回報(bào)投資者。
[Abstract]:Since the end of the 20th century, the global economy has developed at a high speed, the trend of regional economic collectivization and globalization has become more and more obvious, and the degree of our economic opening to the outside world has become more and more high. In 2001, China's accession to the WTO further promoted the "going out" of China's economy. Since 1992, when brilliance Automobile was the first overseas listed enterprise in our country, the overseas listing of our country's enterprises was in the ascendant. The foreign capital market needs to look for new listed resources, and the domestic regulatory policy is also loosening, which makes the time for Chinese enterprises to go abroad to go public and raise funds is ripe. Up to now, the overseas listing of Chinese enterprises has set off a total of five listing upsurge, and the fifth upsurge of IT enterprises in our country "dominant". China's IT enterprises have risen rapidly in the last ten years. In view of their own particularities, they urgently need to solve the "blood" problem of funds. However, due to the lack of direct financing soil in China and the need to withdraw pre-venture capital, IT enterprises have turned overseas to seek a way out through listing. At this time, the overseas listing of the domestic and foreign environment is also greatly improved. The IT industry of developing countries, represented by China, has become a new economic growth point in the world. A large amount of international direct investment flows to IT industry of developing countries represented by China. With the introduction of "75", China's foreign financing regulatory policy also began to loosen. In this kind of favorable domestic and international environment, it is possible for IT enterprises to go public abroad. However, risks are always accompanied by profits. While overseas listings bring the necessary funds for the development of IT enterprises, the potential risks also follow. The IT enterprises should do their risk homework well and focus on the risk of being "infected" by the capital market crisis. Issue risk, information disclosure regulation risk, continuous financing risk and risk of malicious shorting by foreign institutions. After listing, we should properly communicate with investment institutions and local media. Through it to investors and the public to convey a good message for the business. In the event of an unexpected risk, the risk warning mechanism should be activated in the first time to respond proactively, rather than sitting idly by. In short, IT enterprises need to practice their "internal skills", and at the same time, they should do their homework to prevent risks before going public, have a comprehensive understanding of all kinds of risks in the process of listing and after listing, and establish a comprehensive risk management and coping mechanism. To take reasonable and effective measures to avoid all kinds of possible risks, to promote the healthy and healthy development of enterprises, to promote the development of our IT industry at the same time return investors.
【學(xué)位授予單位】：湘潭大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F275;F49

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