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Wiley InterScience

China & World Economy

China & World Economy

Volume 15 Issue 1, Pages 26 - 42

Published Online: 5 Feb 2007

© 2010 Institute of World Economics and Politics, Chinese Academy of Social Sciences



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Financing Alternatives for Chinese Small and Medium Enterprises: The Case for a Small and Medium Enterprise Stock Market
Hung-gay Fung Dr Y. S. Tsiang Professor 1 , Qingfeng Liu Assistant Professor 2 , Jot Yau Professor 3
  1 College of Business Administration and Center for International Studies, University of Missouri, St. Louis, USA. Email: fungh@umsl.edu   2 College of Business, James Madison University, USA. Email: liuqx@jmu.edu;   3 Department of Finance, Albers School of Business and Economics, Seattle University, USA. Email: jyau@seattleu.edu.
Copyright The official journal of The Institute of World Economics and Politics, Chinese Academy of Social Sciences (CASS) 2007
KEYWORDS
Chinese small and medium enterprise • financing • stock exchange

Abstract

AbstractReferences

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

(Edited by Zhinan Zhang)


DIGITAL OBJECT IDENTIFIER (DOI)
10.1111/j.1749-124X.2007.00053.x About DOI

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