从中国公司赴美IPO选择双层股权这一现象入手,分析中国公司选择双层股权上市的影响因素。在影响因素的背景下提出假说并进行实证检验,结果表明,双层股权公司的IPO可能是为了未来的长期投资项目,而由于外部股东的短视,创始人只能自己掌握住控制权之后保证研发费用的投入来推动长期投资项目;创始人与公司的联系越紧密,影响力越大,就越有可能掌握公司的控制权。 Starting from the phenomenon that Chinese companies choose IPO in the United States to select double-stakes equity, this paper analyzes the influential factors that Chinese companies choose to list in double stakes. Hypothesis and empirical test are conducted in the context of the influencing factors. The results show that the IPO of a two-tier equity firm may be a long-term investment project in the future. Due to the short-sightedness of external shareholders, the founder can only guarantee the R & D Costs to promote long-term investment projects; founders and companies more closely linked, the greater the influence, the more likely to grasp the company’s control.