The Study On The Influencing Of Venture Capital To The Venture Enterprises IPO Price-Earnings Ratio

Venture enterprises in China is the main driving force of the development of the SME Board and GEM market, and also is an important carrier of high-tech into productivity, but the limited financial financing channels limit the further development of our venture enterprise.Fortunately, the generation and development of the venture capital promote the growth of venture enterprises, its equity investment way will make venture enterprises and capital market closely linking together. Venture capital plays an important role in the venture enterprises IPO,the successful IPO not only can raise enough funds for enterprises to expand their scale of operation, but also improve the corporate governance of the financial structure and capital structureinitial.The IPO price-earnings ratio is the PE ratio of the IPO, has always been considered to be judged one of the stock valuations are reasonable indicators, but also an important basis of financial regulatory authorities to develop policies. It is because of the above reasons venture capital attracts more and more investors and scholars attention.In this paper, we take the SME board and GEM market in January1,2011-2012year in June30as the research object, according to the venture capital background were divided into two groups, and using descriptive statistics and regression analysis methods for deep research.This paper is divided into five parts, the first part is the introduction, through the sorting results of previous studies to identify their research methods; the second part is the venture capital and Venture enterprises relations research, this section departure from the concepts and history of the development of venture capital and venture firms, research their point of integration and relationships;the third part is the analysis of venture capital enterprises for venture enterprises IPO price-earnings ratio,from venture capital and venture enterprise concept and development history, we will research on venture capital and venture enterprise combination and relationship;the fourth part is empirical analysis of venture capital for venture enterprises IPO price-earnings ratio,we will use qualitative analysis and quantitative analysis method, find out the influencing factors of IPO price-earnings ratio;the fifth part of the policy recommendations,in order to promote the healthy and rapid development of China’s securities, we will put forward the relevant policy recommendations.