The Effect Of Venture Capital? Equity Restriction Ratio On Enterprise Value

Under the background that China's economic development has shifted from high-speed growth to high-quality development,venture capital has developed rapidly.Equity investment has become a hot spot for current legal entities and individuals.Many invested companies have successfully listed on the capital market with the support of venture capital.However,when the industry is in a period of rapid development,the problems that we need to solve also increase.In the listed companies in Shanghai and Shenzhen,some companies that have been invested have not been upgraded after accepting venture capital investment.There are many reasons for this,but it is a very worthwhile study.Ownership structure is an important aspect of corporate governance,it has a very important impact on corporate residual claim and corporate control rights,is an important basic arrangement for corporate development,has also been a hot topic of domestic and foreign scholars,but as of now,Scholars still have no idea about the relationship between the equity structure of listed companies and their value.The analysis of the relationship between venture capital,equity balance and corporate value can analyze the relationship between equity structure and corporate value.At the same time,the optimization of the ownership structure of enterprises and the introduction of venture capital to participate in the operation and management of enterprises have important practical significance for improving the value of the enterprise.Based on the perspective of the influencing factors of corporate value,the concepts of venture capital,equity balance,and corporate value are defined.The theoretical relationships of risk capital,equity balance,and corporate value are described.The relationship between venture capital,equity balance,and corporate value is the target of the study was selected as a sample for the SME board listed company listed on the Shenzhen Stock Exchange from 2011 to 2015,and an empirical study was conducted.In the empirical research,the value of the firm is taken as the explanatory variable,and the venture capital and the degree of equity balance are taken as the explanatory variables.The impact of the ownership balance and the venture capital on the company's value is examined.Then the degree of venture and the balance of the company's equity and the company's value are examined impact.The study found that:(1)there is a positive correlation between venture capital and corporate value;(2)the degree of equity balance has a positive correlation with corporate value;(3)the intervention of risk capital will regulate the effect of equity restraint on firm value,and Regulatory effect.Because of the internal structure of the company and the external environment,the research on the role of risk capital in regulating the degree of equity and the value of the company is based on a comprehensive consideration of the impact of the two on the value of the company and is conducive to the exploration of the impact of venture capital investment in Chinese enterprises.Factors and their consequences,at the same time,through research on the relationship between equity structure and company value,to provide a theoretical value and practical reference for research on how to effectively suppress large shareholders' predatory behavior and improve enterprise equity for enterprises to improve corporate value,so that venture capital can be realized in China.With reasonable development,the real economy can thrive with the help of venture capital.