Value Creation Capacity, Enterprise Performance and Corporate Governance: Evidence from Chinese Listed Companies on GEM

Since been opened on October 2009, high income and high risk is characterized by the coexistence of the GEM. What the major social concern is how to enhance their core competitiveness and the enterprises´ value to keep a sustained high growth. In this paper, we find out the factor of the value creation ability in company. Furthermore, we intend to apply EVA analysis system to the value creation capacity assessment of GEM listed companies. Empirical evidence from listed companies on GEM indicates that: the profitability of enterprises, the proportion of large shareholders and the board size and other factors have a significant impact on its value creation capacity.