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《中國(guó)企業(yè)紅籌上市境外重組模式研究》由會(huì)員上傳分享,免費(fèi)在線閱讀,更多相關(guān)內(nèi)容在學(xué)術(shù)論文-天天文庫(kù)。
1、中文摘要中國(guó)經(jīng)濟(jì)的持續(xù)高速發(fā)展催生了一大批優(yōu)秀中國(guó)企業(yè),這些企業(yè)有著非常優(yōu)良的產(chǎn)品及非常廣闊的市場(chǎng)前景,但卻因?yàn)闊o(wú)法獲得必要的資金而阻滯了其實(shí)現(xiàn)更大的發(fā)展,在國(guó)內(nèi)信用體系和資本市場(chǎng)尚不足以支撐和滿足這些企業(yè)的資金需求時(shí),越來(lái)越多的中國(guó)企業(yè)把目光投向了國(guó)際資本市場(chǎng)。并取得了不小的成功,導(dǎo)致中國(guó)概念股在國(guó)際資本市場(chǎng)受到熱烈歡迎。但是,由于特定的生存條件和法律環(huán)境,更多中國(guó)企業(yè)境外上市過(guò)程中也面臨著一系列的實(shí)際問(wèn)題,這些問(wèn)題主要體現(xiàn)在海外重組過(guò)程中。如果不能很好地解決這些問(wèn)題,企業(yè)境外上市就會(huì)面臨許多困難甚至失敗。如何
2、通過(guò)對(duì)已經(jīng)成功在境外上市的中國(guó)企業(yè)及未能成功上市的企業(yè)海外重組模式進(jìn)行深入實(shí)證分析,總結(jié)出一套科學(xué)、合理、合法的海外重組經(jīng)典模式,為眾多中國(guó)優(yōu)秀中小企業(yè)走向國(guó)際資本市場(chǎng)提供有價(jià)值的借鑒意義,是本文的研究背景。本文作者在查閱大量的文獻(xiàn)資料及歷年關(guān)于紅籌上市的法律法規(guī)的基礎(chǔ)上,在趙健梅導(dǎo)師的傾心指導(dǎo)下,獨(dú)立進(jìn)行了中國(guó)企業(yè)紅籌上市境外重組模式研究。作者從紅籌上市的歷史和現(xiàn)狀入手,首先對(duì)紅籌上市及境外重組的概念進(jìn)行了界定;在此基礎(chǔ)上重點(diǎn)分析了紅籌上市境外重組的幾種模式,并結(jié)合案例對(duì)紅籌上市境外重組的要點(diǎn)和難點(diǎn)進(jìn)行了分析;
3、對(duì)歷年國(guó)家對(duì)紅籌上市的政策、監(jiān)管法規(guī)進(jìn)行了梳理,與新近出臺(tái)的法規(guī)政策進(jìn)行比較分析,進(jìn)一步創(chuàng)新性提出了新規(guī)則下中國(guó)企業(yè)紅籌上市境外重組模式的新思路。關(guān)鍵詞:境外重組;紅籌;政策監(jiān)管;法規(guī)變化分類號(hào):I匕瘟鑾逼太堂童些硒±堂僮論塞.△旦墨!壁△£!ABSTRACTABS’I。I認(rèn)‘:’l'.Thecontinuousandhigh——speeddevelopmentoftheChineseeconomyexpeditesabatchofoutstandinglocalenterpriseswithhighqualit
4、yproductsandbroadmarketprespects.However,theyareimpededonthedevelopmentpathbythelackofnecessaryfinance.Becausethelocalcreditsystemandcapitalmarketcannotaffordandsatisfythefinancialdemandsofthoseenterprises,moreandmoreChineseenterprisesputtheireyesontheinterna
5、tionalcapitalmarketandmakebigsuccesses.Chineseconceptstocksarehighlywelcomedintheinternationalcapitalmarket.However,astheresultofthespecificsurvivalrequirementandlegalenvironment,moreChineseenterprisesalsoencountaseriesofactualproblemsOiltheprocessofoverseas1
6、isting,whicharemainlymanifestedintheoverseasre—orgnizationprocess.Chineseenterpriseswillencountmanydifficultiesevenfai1toentertheoverseasmarketunlesssuchactualproblemscanbesolvedproperly.However,manyenterprisesfaceaseriesofpracticalproblemsintheprocessof1isti
7、ngoverseasduetothegivenqualificationandenvironmentoflaw.ThoseproblemsaremainlyemergedintheprocedureofoverseasM&A,whichareofgreatimportanceandshouldbesolvedappropriately.Otherwise,companieswillconfrontwithagreatdealofdifficulties,evenfailurewhilelistingoversea
8、s.TheresearchbackgroundofthispaperistosummarizetheclassicmodesandexperiencesthroughdeeplyempiricalanalysisoftheoverseasM&Amodeofthose1istedornon-listedcompanies,whicharesignificanceforChi