Empirical Research On The Improvement Of Public Companies Performance From Corporate Venture Capital

As the rapidly development of domestic VC markets,more and more corporate began to enter this industry,which had been a very important participant. Till 2014,according to statistics,most LPs of the venture capital were enterprise. They aimed to earn not only financial return but also strategic benefit. The synergy between enterprise and venture firms would improve their performance. The thesis focused on the change of stock price and ROA of the enterprise after they had finished a venture deal. We concluded:After public company finished a venture deal,which didn't bring evident rise of the stock price.After public company finished a venture deal,no matter short or long term,which didn't brought evident benefit to ROA. From the perspective of long term,company's ROA was in the trend of downside.After public company finished a venture deal,in the short term the industrial relative brought evident benefit to ROA,while in the long term I t had been proved didn't.After public company finished a venture deal,in the short term the proportion of investment to the total asset of public company brought evident benefit to ROA.At last,associated with the case of Cisco,I made some suggestion and perspective from the external environment and public company.