中文摘要：

对创业板公司的成长性、盈利性与价值创造之间的关系进行研究，结果表明，创业板公司的成长性带来盈利能力的提升，但并不总是创造价值。处于相对低速增长状态的公司的成长性能够为公司创造价值，而处于相对高速增长状态的公司的成长性不利于公司价值的提升；公司价值脱离了基本业绩面，与盈利性呈反向关系，2010年在成长性和盈利性显著下降的情况下，公司价值仍逆势上涨。

英文摘要：

This paper investigates the relationship between growth, profitability and val- ue creation of listed companies on growth enterprise market. The main results of this paper are as follows：the growth of listed companies on GEM can bring increasing of profitability, but can＇ t bring increasing of firm values always ; growth can create value for companies with relatively slow speed but decrease value for companies with relatively rapid speed;firm val- ue deviates from firm＇ s basic performance, specifically, it negatively correlates with profit- ability and significantly increase in 2010 although firm＇ s growth ,profitability both decrease.