Empirical Study on the Restrictive Factors for the Development of GEM Companies under the Background of Big Data

In recent years, with the rapid development and application of the Internet, big data, and information science in recent years, there has been an increase in the number of types of public information about the financial market. And stock market investors are gradually obtaining relevant information through network platforms and mobile terminals to assist their investment decisions. GEM-listed companies are primarily high-tech enterprises with relatively prominent main businesses, unique technology, and significant product market potential, and they are attracting increasing investor interest. Compared with the large enterprises on the main board, the high-tech enterprises in the GEM have serious problems of “high stock price, high price-earnings ratio, and high fundraising”, but the “high growth” is not prominent enough. Based on behavioral finance theory, combined with professional knowledge and analytical frameworks such as econometrics, statistics, and computer science, and using big data, this paper conducts an empirical analysis and research on the factors affecting the value of GEM companies. The results show that the profitability, solvency, operating ability, growth ability, enterprise scale, and executive characteristics of enterprises all have a significant impact on the value of listed companies. As a result, listed companies should be based on their positioning, make full use of modern information means such as Internet big data, and continuously improve the enterprise’s profitability, solvency, operating ability, and growth ability, as well as enhance the qualifications, ability, and personal charm of leaders, to increase enterprise value. At the same time, the GEM companies should take advantage of the development opportunities of the “Belt and Road” to solve the problem of unreasonable regional distribution, so that the GEM companies will develop faster and better.