| Financing Alternatives for Chinese Small and Medium Enterprises： The Case for a Small and Medium Enterprise Stock Market |
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| 摘 要： |
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| 关 键 词： | 中国 经济改革 股票市场 上市公司 金融市场 |
Financing Alternatives for Chinese Small and Medium Enterprises: The Case for a Small and Medium Enterprise Stock Market |
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| Authors: | Hung-gay Fung Qingfeng Liu Jot Yau |
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| Institution: | College of Business Administration and Center for International Studies, University of Missouri, St. Louis, USA. Email:;College of Business, James Madison University, USA. Email:;;Department of Finance, Albers School of Business and Economics, Seattle University, USA. Email: . |
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| Abstract: | Financing alternatives for small and medium enterprises in China are discussed in the present study. In particular, we analyze the significant changes and developments in China s “second board” stock market. China s extensive network of regional assets and equity exchanges, which were set up to facilitate private equity transfer, and non‐performing loan transactions seem to partially fill the void for small and medium enterprises, which cannot easily obtain approval for listing on the stock exchanges. Foreign investors can identify investment opportunities in non‐listed domestic state‐owned and private businesses through these regional assets and equity exchanges. At the same time, foreign stock markets are now attracting the young Chinese enterprises to list their stocks on their exchanges. (Edited by Zhinan Zhang) |
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| Keywords: | Chinese small and medium enterprise financing stock exchange |
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