新世纪海外创业板市场的变革与分化发展

The Reform and Polarized Development of Oversea Growth Enterprise Market in the New Century

2000～2001年NASDAQ网络股泡沫破灭后,海外创业板发展进入调整期。2001年以来,在整体保持良好势头的情况下,海外创业板发展出现明显分化,有的发展取得了成功,有的被关闭或合并。本文将这个阶段海外创业板发展情况归纳总结为五种类型,并分别介绍了有代表性的市场在这个阶段的主要改革措施和市场演变趋势。

Since the bust of Internet bubble of NASDAQ in 2000 and 2001, the development of oversea Growth Enterprise Board （GEM） entered an adjusting period. Since 2001, the development of GEM polarized. Some made great success, while others were shut down or merged. The paper summarized their development into five categories, and presented the major reform measures and market evolvement trend of GEM market.