Research On The Impact Of Venture Capital Holdings And Small And Medium-sized Enterprise Growth

As a new business investment model and investment and financing, Venture capital has become a hot topic of economics and management. It plays an important role in promoting economic development, but also set off a venture capital research for academia boom. It offers financial support and management consulting services for the company which stays in early stages of development. This is of great significance for the survival and development of small and medium-sized enterprise. On the impact of venture capital on the growth of small and medium-sized enterprise, particularly quantitative characteristics about the proportion and time of venture capital holdings,Impact on business growth at this stage is that scholars research priorities. These provided the basis for further academic research and foundation for the development of the business community.Based on the reality of the situation of the capital market, proposed purpose of this study to verify the impact of venture capital holdings for small and medium-sized enterprise. Article uses a scientific method of empirical research on the relationship between venture capital ownership and small and medium-sized enterprise growth. In the relevant literature on venture capital, growth of small and medium-sized enterprise,venture capital and other relationships with business growth, and summarized on the basis of previous studies combined methods and ideas proposed contents of this paper.The first chapter, the introduction, mainly introduces the background and significance of the article, including the status of development and problems of China’s capital market,proposed research ideas and innovations article. The second chapter, literature review,this section introduces the basic concepts and theories of venture capital holdings and growth of small and medium-sized enterprise, and provide the basis for shares of Venture Capital and growth of small and medium-sized enterprise. The first part of the key concepts involved in the definition of the article, and then review and summary of the relevant literature. The third chapter, design research model and proposed hypotheses. This section is mainly on the basis of the literature review, proposed hypotheses from the perspective of venture capital holdings affect growth of small and medium-sized enterprise, and design research variables and define certain research variables. The fourth chapter, empirical analysis section which is mainly from the perspective of empirical data analysis of the theoretical assumptions. Based on the premise of this chapter propose hypotheses, statistical analysis by descriptive statistics,correlation analysis and regression analysis to study and draw empirical conclusions.The fifth chapter, the results and discussion section for the empirical analysis concluded the analysis and discussion, and put forward concrete proposals from the government and corporate level, and finally to the inadequacies of the article will be described.This paper selects Shenzhen GEM listed companies all eligible small and medium enterprises criteria for the sample companies, and select the pre-IPO companies listed 1year and 2 years after the listing of financial data as an alternative source of variable data. At the same time, preclude the use of various financial indicators as an alternative measure of business growth variables from multiple angles, established a relatively comprehensive and accurate evaluation system to avoid the past scholars have used a single index or weighted scoring way to bring a measure of corporate growth limitations . Based on the theoretical analysis and research, verified by empirical research venture capital holdings to investments profitability, solvency, operating capacity and enhance the ability to grow if there is a facilitating role.