Research On The Influence Factors Of Private Equity Investment On The Performance Of China's GEM Listed Companies

With the rapid development of Chinese economy,private equity investment in China's financial system plays an increasingly important role,for enterprises,capital is leveraging private institutions to achieve "financing" and one of "intelligent" double target.Private equity institutions,through mergers and acquisitions,IPO and other ways to achieve high return on investment.In the past five years,with the tide of innovation and entrepreneurship in China,investment in China has become the world trend,the number of private equity institutions and investment at home and abroad have reached a record high,financing companies face more choices.How to evaluate the factors of private equity institutions and its impact on the future performance of enterprises is a realistic problem.The quantitative analysis,research of private sector investment ability,establishment background,time and area distribution of the five elements will help enterprises to make rational choice,to make more rational financing on the price at the operational level,in its own development while providing funding to help improve the corporate governance system,improve the operation efficiency and management ability.To achieve the company performance improvement.This paper selects 2016 all the enterprises listed on GEM as a sample,using univariate analysis method to study the existence of private institutions will have an impact on enterprise performance,found the financial index and TQ of private sector participation in the company's value is better than no private institutions involved in the company;secondly,further in-depth analysis of the above five the conclusion is a factor,the number of private institutions,more investment analysis ability is stronger,more solid background and the establishment of the longer the more conducive to improving the performance of the invested enterprise,while the establishment time of private institutions of different lengths will have different effects on the performance of enterprises;thirdly,using the method of multiple regression analysis,analysis of the establishment of the introduction of dynamic model,on behalf of the enterprise value of the TQ value to more clearly show the private sector five factors to influence corporate performance,The research shows that the above five factors of private equity institutions are positively related to the TQ value of corporate performance,and there is a positive correlation between the three factors of quantity,ability and background and firm performance.Finally,put forward some suggestions according to the conclusion of this paper:(1)in the start-up period of enterprises: the all-round improvement of company performance,improve the profitability of the enterprise;in terms of the number of private institutions,to diversify;in the background and investment ability,seek investment analysis ability,a strong background in the private sector as a strategic investor;in the time of establishment,as far as possible the selection of longer established private institutions;the distribution in the area,focuses on the selection of private institutions located in the eastern coastal areas to participate in corporate governance;(2)to the relevant government agencies concerned: the introduction of relevant policies to encourage the rapid development of private institutions;rich sources of funds of private institutions,to attract all walks of life capital investment.