The Research On Effect Of Venture Capital To Technology Innovation With Listed Companies On GEM

Technology innovation is important to national economic growth, our government gave highattention for the development of small and medium-sized hi-tech enterprise.The successfulexperience of developed countries indicates that venture capital contributes to the technologyinnovation. Our government also fully aware of and gave strong support to the venture capital andstarted the new chapter of venture capital in China.The GEM in our country gathers a number of enterprise group with innovative and growthful,meanwhile provides effective way to go out for the venture capital. The GEM builds goodconnecting platform for the innovation enterprise and venture capital, small and medium-sizedenterprises have the opportunity to get capital of venture capital and management of value-addedservices, promotes the independent innovation and rapid development for the enterprise; and theGEM as the national independent innovation strategy, venture capital organization and innovationenterprise make sure to get state policy support and attention.Based on the GEM, this paper discusses the effect of venture capital to technology innovationof the listed companies on GEM. Firstly, based on small and medium-sized hi-tech enterprise andthe characteristics of venture capital, got the mechanism of action of venture capital to thetechnology innovation, analyzed the development status of Chinese GEM venture capital andtechnology innovation, and discussed the influence of GEM to venture capital and small andmedium-sized hi-tech enterprise. Secondly, analyzed the effect of venture capital to technologyinnovation of listed companies on GEM through the actual data of the GEM venture capital andtechnology innovation, and the conclusion shows that our venture capital has positive role intechnological innovation of the listed enterprises. At last, put forward related suggestions based onthe conclusion.