我国企业境内外上市融资成本的比较分析专业：金融工程摘要：在中国加入世界贸易组织以来，我国企业开始将目光着眼于全球资本市场。并且随着经济全球化的进一步深入，国际股权融资迅速发展，越来越多的中国企业选择境外市场进行上市融资。而上市作为企业发展战略中的极为重要的一步，影响着企业的方方面面。然而我国企业在境外上市获得其满意的融资额的同时，也需要考虑其可能遇到的诸多弊端。本文运用比较分析的方法，以境内外上市融资成本为分析对象，目的是通过对其上市前准备的机会成本，上市融资直接成本以及上市后的风险成本进行对比分析，从而总结出企业境内外上市的利与弊，并为企业境外上市的融资成本考量提供依据。关键词：上市；融资成本；香港市场；美国市场；TheComparativeAnalysisofFinancingCostsofChineseenterprises’listingeventsondomesticandoverseasmarketsMajor:FinancialEngineering(secondmajor)Abstract:SinceChinajoinedtheworldtradeorganization(WTO),Chineseenterprisesbegantofocusonglobalcapitalmarkets.Alongwiththefurthereconomicglobalizationanddevelopmentofinternationalequityfinancing,agrowingnumberofChineseenterpriseschooseoverseasmarketstogopublicinsteadofchoosingChinesemarkets.Listingisareallycrucialstepintheenterprisedevelopmentstrategy,affectingallaspectsoftheenterprise.Thecompanieswhichgopublicoverseascanalwaysmakegreatsuccessonitsfinancingevent,buttheystillneedtoconsidertheproblemstheymayencounter.Thisarticleappliesthemethodofcomparativeanalysistocomparedomesticlistingcostsandoverseaslistingcosts.Thepurposeistoanalyzeandsummarizetheadvantagesanddisadvantagesofoverseaslistingthroughanalyzingandcontrastingthecostshappenedduringthepreparation,thelistingeventsandtheirfurtheroperation.Therefore,thisarticlecanprovidethebasicinformationconcernedtothefinancingcostsforenterpriseswhoconsidertolistoverseas..Keywords:listing;financingcosts;U.Smarket;HongKongmarket目录1导论.....................................................................................................................11.1选题背景及意义......................................................................................11.2国内外研究现状......................................................................................11.3主要研究方法..........................................................................................22我国企业境内外上市现状.................................................................................32.1我国企业在境内上市概况......................................................................32.1.1我国企业在上海证券交易所上市融资概况...............................42.1.2我国企业在深圳证券交易所上市融资概况...............................42.2我国企业在境外上市概况......................................................................52.2.1我国企业在香港市场上市融资概况...........................................62.2.2我国企业在美国市场上市融资概况...........................................63我国企业境内外上市直接成本的比较.............................................................83.1我国企业境内外上市融资金额及特点..................................................83.2我国企业境内外上市发行费用的比较................................................103.2.1我国主板及创业板发行费用....................................................113.2.2香港主板及创业板发行费用.....................................................133.2.3美国纽交所及纳斯达克发行费用.............................................144我国企业境内外上市隐性成本...
