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On The Effect Of Venture Capital To The Performance Of Listed Companies In Growth Enterprise Board (GEB)

Posted on:2018-07-21Degree:MasterType:Thesis
Country:ChinaCandidate:W K GeFull Text:PDF
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The purpose of venture capital investment is to promote the development of start-up companies through the help of funds and management.And venture capital exit through a variety of channels to obtain investment income,such as IPO,M&A,etc.,when the investee company grows to a certain stage.With the rapid development of venture capital investment in our country,a lot of investee enterprises restructure and list in the capital market.However,whether venture capital can really enhance the company’s performance or not should be a very important issue for companies and researchers.But they have not paid enough attention on this issue.Research on the impact of venture capital on firm performance is generally confined to probe whether the venture capital institutions support on corporate performance.This paper attempts to study the impact of venture capital on the performance of listed companies in in Growth Enterprise Board(GEB),and select listed companies in GEB as samples in recent years,to explore whether venture capital is conducive for the company performance improvement.The focus and innovation of this paper is to analyze the issue of whether venture capital investment can really enhance the company’s performance or not through the study of multiple time periods.The qualitative analysis is based on related theoretical research and the current situation.In order to further study the impact of venture capital on the channel and effect on the performance of listed companies inGEB,this paper establishes a cross-sectional data model for stage quantitative analysis of whether venture capital shareholding ratio,the number of joint investment institutions,the exit of venture capital and other micro factors play an important role in enhancing the performance of the investee company.It provides theoretical and empirical aspects to promote and improve the development of China’s venture capital investment.Through qualitative and quantitative analysis,this paper draws the following conclusions:The difference of performance changes is reflected before IPO,the performance of investee company may be affected by the number of venture capital institutions in joint investment and the time of investment in some stages,but the venture capital shareholding ratio is not significant.Relevant regulatory departments and agencies can regulate the operation of venture capital by improving the professional capability of venture capital institutions,strengthening information disclosure and creating venture capital supervision system,to promote stable and healthy development of China’s financial industry.
Keywords/Search Tags:Venture Capital, performance changes, stages, IPO, exit channel
PDF Full Text Request
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