Financing Alternatives for Chinese Small and Medium Enterprises: The Case for a Small and Medium Enterprise Stock Market

作     者：Hung-gay Fung Qingfeng Liu Jot Yau 

作者机构：Dr Y. S. Tsiang Professor College of Business Administration and Center for International Studies University of Missouri St. Louis USA Assistant Professor College of Business James Madison University USA Professor Department of Finance Albers School of Business and Economics Seattle University USA 

出 版 物：《China & World Economy》 (中国与世界经济（英文版）)

年 卷 期：2007年第15卷第1期

页      面：26-42页

核心收录：

学科分类：12[管理学] 02[经济学] 0202[经济学-应用经济学] 1203[管理学-农林经济管理] 1201[管理学-管理科学与工程(可授管理学、工学学位)] 020204[经济学-金融学（含∶保险学）] 

主　　题：Chinese small and medium enterprise financing stock exchange 

摘      要：Financing alternatives for small and medium enterprises in China are discussed in the present study. In particular, we analyze the significant changes and developments m 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.