【正文】
企業(yè)在持續(xù)挖掘內(nèi)外資源潛力基礎(chǔ)上所展現(xiàn)出的整體擴(kuò)張的態(tài)勢(shì) ,它是指企業(yè)由小變大、由弱變強(qiáng)的不斷變革的過程。成長性是創(chuàng)業(yè)板上市公司的特色,是衡量上市公司和市場(chǎng)發(fā)展前景的一項(xiàng)重要指標(biāo),是創(chuàng)業(yè)板市場(chǎng)良性發(fā)展的基礎(chǔ),也決定著創(chuàng)業(yè)板市場(chǎng)發(fā)展的成敗。因此,對(duì)我國創(chuàng)業(yè)板上市公司成長性進(jìn)行研究,具有較強(qiáng)的理論意義和現(xiàn)實(shí)意義。 第一,有助于投資者的投資決策。本文是以投資者為評(píng)價(jià)主體建立的創(chuàng)業(yè)板上市公司成長性指標(biāo)體系,本文建立 的成長性指標(biāo)評(píng)價(jià)體系對(duì)投資價(jià)值的一個(gè)重要參考,所涉及財(cái)務(wù)指標(biāo)均為上市公司公開財(cái)務(wù)數(shù)據(jù),具有易得性,從而為投資者對(duì)上市公司的投資價(jià)值評(píng)估提供依據(jù)。 第二,有助于管理層加強(qiáng)內(nèi)部控制并改善經(jīng)營管理。對(duì)于公司管理層來說,全面地掌握該公司的盈利能力、成長性及資產(chǎn)結(jié)構(gòu)、償債能力,能夠意識(shí)到公司目前情況以及未來的發(fā)展,并采取相應(yīng)的措施改善經(jīng)營管理以避免損失的發(fā)生,總結(jié)以前年度的成功經(jīng)驗(yàn),為企業(yè)創(chuàng)造更多的價(jià)值。 Foreign language translation After a decade of grinding sword , the GEM market finally in October 23, 2020 are open for business . This is an important milestone in China 39。s multi level capital market for SMEs to expand financing channels , improve the capital market structure, promote the implementation of the national strategy of innovation , consolidate the economic development potential , will have farreaching positive impact . First, the nature of the board market , characteristics and economic significance GEM , also known as the Second Board Market (Secondboard Market), is the main market (MainBoard Market) of a different class of securities markets , is to have a highrisk, highreturn characteristics of hightech SMEs as the main target the setting , with a large listed pany on the Main Board of mature market is different, it is a forwardlooking market , focusing on the pany39。s prospects and growth potential , which is lower than the mature listing standards motherboard market . The main aim is to support small and medium enterprises , especially high growth enterprises , establish a normal exit mechanism for the venture capital and venture capital panies , providing a platform for innovation financing national strategy for multilevel capital market system building blocks . It can be said , the GEM is a low threshold , high risk , highly regulated stock market , but also a hightech incubator , the cradle of growing businesses . GEM has the following characteristics: A lower listing requirements . First, there is no requirement on the earnings , assets have not followed the requirements for . Partly because of the GEM market oriented small and medium enterprises , the enterprise value of the growth potential , rather than the current financial foundation 。 hand is the emergence of the knowledge economy forms a measure to make the enterprise has undergone a fundamental change , the most important indicator to evaluate a business tend to start their own human resources and technological achievements , these indicators are important decisions foundation of modern corporate investors to determine whether it is worth investing the time . 2 , strict disclosure requirements . Because of the lower GEM listing conditions , many SMEs operating conditions unsatisfactory quality corporate resources are likely to coexist with , and the evaluation of hightech enterprises in terms of traditional industries pared to more troublesome . Therefore, the full disclosure of the issuer39。s information resources , help investors to make an objective judgment on corporate , investment risk effectively resolved . 3 , serving the highgrowth panies . The main purpose is to create a GEM let their innovative