An Empirical Study Of Home Bias In Venture Capital Intervention

With the increasing concern about the Intervention of venture capital into enterprises,venture capital companies' consideration of listed companies' investment becomes an important research issue.Domestic and foreign researches found that the home bias have an important impact on investing in venture companies.The home bias research is extremely important for studying the investment preferences of venture capital firms.This paper takes 62 companies listed on SEM board from January 1,2014 to December 31,2017 as the research object.Using the cross-section data and binary choices Model,including the Logit and Probit models.Comparing the company with venture capital participation and similar no VC Participation to study the factors that influence venture capital firms to make investment decisions.The conclusion is that the venture capital company will invest in companies with the following characteristics: 1.The closer the venture capital company is,the easier it is to obtain investment,especially in the same province.2.The greater the company's financial advantage,the easier it is to obtain the favor of venture capital.3.The higher the company's sales income,the easier it is to get investment.