Comparison of overseas listing motivation between state-owned enterprise and private enterprise

Using 670 Chinese firms overseas listing, this paper compared the characteristics of overseas listing between state-owned enterprise and private enterprise ,from the point of view of the listed place, the listed industries, listed modes and the financing , then analyze the motivation of both enterprise. The results show that state-owned enterprises overseas listing led by the Government with the motivation of establish a rational capital structure, improve corporate governance, improve the state-owned enterprises reputation and the protect the capital market order; private enterprises based on their own internal needs select overseas listing with a strong financial motivation and achieve security and equal motivation.