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The Empirical Study On The Influence Of PE To The Business Performance Of The Listed SMEs In China

Posted on:2013-09-07Degree:MasterType:Thesis
Country:ChinaCandidate:P P CaoFull Text:PDF
GTID:2249330362966147Subject:Finance
Abstract/Summary:PDF Full Text Request
In recent years, the development of China’s Private Equity (PE) has been followed.PE classified as direct financing is an important financial innovation for enterprises.PE can optimize the corporate governance structure, improve the enterprisemanagement, enhance the business performance. There were a lot of domesticresearch results about PE, but mostly have stayed in the phase of theory study, theempirical analysis research results is relatively small. The paper mainly studies on theinfluence of PE to the business performance of the listed SMEs in China.First, the paper summarizes part of the domestic and foreign scholars’ existingresearch results and a brief comment. Then an overview of the concept of PE,characteristics and basic theory are contained. Selecting a group of147listed SMEson GEM announced the third quarter of2011financial data as samples, it isrespectively proved that PE and the business performance of listed SMEs showed asignificant positive correlation, as well as the PE’s shareholding ratio and the businessperformance of listed SMEs showed a significant fall U-shaped curve relationship bythe two parts empirical analysis, the multiple linear regression and quadratic curvemodel.Based on the theoretical and empirical analysis combination method, this paper iscommitted to the quantitative research on the relationship between PE and listedSMEs’ business performance. The subject combines with the current situation of thedevelopment of China’s capital market closely. Therefore, the paper innovates on theresearch content and the research method.
Keywords/Search Tags:Private Equity, SMEs, Business Performance, GEM
PDF Full Text Request
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