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The Impact Of Venture Capital On The Performance Of Listed Companies In Gem Software And Information Service Industry

Posted on:2018-11-11Degree:MasterType:Thesis
Country:ChinaCandidate:Y LiuFull Text:PDF
GTID:2359330533957168Subject:Finance and finance
Abstract/Summary:PDF Full Text Request
Entered in twenty-first Century,with China’s economic growth and the capital market environment is becoming more and more perfect,venture capital has entered a stage of rapid development.In recent years,the "Internet plus" concept in the national advocate for the rapid development of China’s software and information technology industry has brought opportunities,and venture capital as an important source of funding for science and technology innovation of enterprises,but also open up new opportunities for development;in addition,may also have a corresponding impact on corporate performance of venture capital in our country’s political economic and legal environment.Due to the relatively small board in our country started late,the domestic academic research on the impact of venture capital on the performance of GEM listed companies is relatively small.In view of the development trend of the software industry and information service industry and the importance of occupied in the gem,the gem of influence of venture capital on GEM software and information service industry listed based on enterprise performance has a certain theoretical and practical significance.The research results can not only reflect the impact of risk investment listed on the gem of software and information service industry enterprise performance,can also provide useful reference for the development of venture capital market in the industry,and the practical application in the future.This paper summarizes the related research achievements of scholars in this field,on the basis of analysis of the risk of investment and the influence factors of influence mechanism of listed companies,and combined with the practice of China’s gem enterprise software and information service industry,the influence of the performance of venture capital for the industry enterprises is the theoretical hypothesis positive.This paper selects 73 stocks 2009-2015 year this time the gem of software and information service industry,according to domestic and foreign research results from ROE(profitability),IBIR(growth capacity)and TAT(operational capacity)and CR(solvency)four indicators,the multiple linear regression method is used to analyze the impact of venture capital on the performance of gem and information service listed companies.The results show that the investment risk of gem software and information service industry listed companies ROE(ROE),IBIR(growth capacity)and TAT(operational capacity)and CR(solvency)is positively related to both,but before three was only CR(solvency)is not significant.Finally,based on the empirical results,the paper puts forward some suggestions.
Keywords/Search Tags:Venture capital, GEM software and services industry, Listed companies, business performance
PDF Full Text Request
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