Research On Performance Of Venture Capital’s Withdrawal Using Growth Enterpirses Market

Currently, the growth of economic is in the period of transforming. It is still a long wayto go to develop the capital-intensive and tech-intensive enterprise. Venture capital is sure toplay a key role in the process.It has been more than a dozen years since venture capital enters in china, but itsdevelopment is not very well. Exit to venture capital mechanism is a main reason. There arefour ways of exit to venture capital mechanism. IPO and M&A is the most favorable way.For venture capital institutions, the yield is undoubtedly the major concern. Therefore, theinfluence of exit channels to the yield become the primary factors when they quit. After thedetrusion of growth enterprises markets from Shenzhen Stock Exchange in China, theventure capital institutions achieved the IPO withdrawing through growth enterprises.This paper researched the withdrawing performance with the methods of theory analysisand empirical study. On the basis of the analyses in initial investment, investment period,registered capital, etc, this paper gave a empirical test to ROI(return of investment)affectedby each elements with the software eviews5.0, and drew a conclusion that ROI wasmarkedly affected by the investment period of venture capital institutions.