Title :
SMEs´ Crucial Cruxes: A Perspective from the IPO Failures of GEM
Author :
Zhou, Li ; Tang, Xia
Author_Institution :
Sch. of Econ., Beijing Technol. & Bus. Univ., Beijing, China
Abstract :
GEM provides an important financing channel and a selection mechanism for the growth enterprises. Only those that meet some certain standards such as continuous profitability and growth capability can go public on GEM. In this paper, we sum up the IPO failures of GEM to analyze why they didn´t successfully go public on GEM. And by this means, we try to find out the existing crucial cruxes of China´s SMEs . We come to the conclusion that being short of continuous profitability and growth capability is the main crux of China´s SMEs. Based on this conclusion, we give some suggestions at the end of this paper.
Keywords :
financial management; profitability; small-to-medium enterprises; GEM; IPO failures; SME; continuous profitability; financing channel; growth capability; growth enterprises; selection mechanism; Companies; Industries; Logistics; Profitability; Standards;
Conference_Titel :
Management and Service Science (MASS), 2011 International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-6579-8
DOI :
10.1109/ICMSS.2011.5998536
