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| Comparison of Fundraising Efficiency Between Chinese and US Capital Market |
| Wen Yuechun,Tang Xuemin |
| School of Economics and Management of Tongji University,Shanghai 200041,China |
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Abstract This paper examined the fundraising efficiency of innovation served by capital market by using the data of Hi-tech enterprises in both Chinese and US stock market.It finds that the funding efficiency of capital market to Hi-tech enterprises of China is close to that of US.And the efficiency of the allocation of resources of Chinese capital market is relatively low with respect to the US.In order to promote innovation,China should make great efforts to improve and perfect its multi-level capital market,and speed up the construction of OTC markets
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Received: 28 March 2014
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2014, Vol. 0 
