A Study On The Relationships Among Non-financial Value-added Services Of Venture Capital, Learning Capability And Types Of Innovation

In the investing process of venture capital, the non-financial value-added servicesbrought by venture capital enterprise shall play a crucial role in the development of theinvested enterprise. The ability to make efficient use of the advantages of thenon-financial value-added services is the key to determining the success, which can helpthe invested enterprise to learn and select appropriate innovation types to enhance thecompetitiveness of enterprises.Based on the research of relevant literature, this paper tried to design the specificindicators of the learning ability and innovative behavior of high-tech enterprises and toexplore the influence of the non-financial value-added services placed on them. TheEmpirical research of the paper use structural equation modeling (SEM) to analyze therelationship between the non-financial value-added services, the learning ability and theinnovation types, the results show that the non-financial value-added services havesignificant positive effect on the learning ability and innovation types. At the same time,the development of the learning ability of the Hi-tech enterprises is also very important tothe innovation type selecting process, specifically the static learning ability of enterpriseshas more significant effects to the selection of the innovation on customers demand, thedynamic learning ability has more significant effects to the selection of the innovation ontechnological breakthrough. The software SPSS and AMOS is used to run the statisticanalysis in this paper.The main contribution of this paper is to explore the specific content and form of thenon-financial value-added services provided by venture capital into the venture firms, andits impact on the learning ability and the innovation behavior of high-tech enterprise isexamined in the empirical research, and the relationship between the learning ability andthe selection of innovation types is further analyzed. In this paper, the result shows thathigh-tech enterprises should take advantage of the non-financial value-added servicesbrought by the venture capital and gradually improve its own ability to learn, and thenselect the right innovation type that fit with the current learning ability to ensure thehigh-tech enterprises in an advantageous position in the fierce market competition.