The Impact Of Venture Capital On The Value Of High-tech Enterprises

Since the emergence of venture capital,the impact of venture capital on enterprise value has become the focus of scholars.And in the studies of the effects of venture capital to the enterprise value,more concentrated in the literature on the impact of venture capital on the enterprise value relevance research.On the path and the mechanism of risk investment which influence enterprise value research is relatively insufficient.In particular,there are few research and case studies on venture capital in China.This paper adopts case study method.Around the enterprise value this core of risk investment of high and new technology,this paper discusses the risk investment under the background of current policy,through the influence of high and new technology enterprise industry chain structure,corporate governance and innovation ability three aspects influence on corporate value.This paper reviews the related theories of venture capital,both at home and abroad about the risk investment and investment enterprises corporate governance,innovation ability,the enterprise value of the relationship between related research literature made a comb,and on this basis for subsequent analysis.Then,this article from the mechanism analyses the specific path of risk investment influence enterprise value,including: participate in high and new technology research and development of corporate governance,improve the high and new technology enterprise innovation ability and the expansion of industry chain enterprises.Again then,combined with the case of Aikang technology realistic implementation was investigated,and the role of the above study found: risk investment optimization of corporate governance,risk investment and improve enterprise innovation ability,improve the industry competition niche.Finally,this paper discusses the policy implications and reform proposals of the above findings.