A Study On The Impact Of Private Equity Investment On The Performance Of Chinese Listed Companies In Strategic Emerging Industries

Throughout the economic and social development,science and technology has been the backbone of promoting economic and social progress.Therefore,in the current international environment dominated by scientific and technological power,the emerging industries with technological innovation as the main means of development has become the most active factor in the development of the world economy.SEI(Strategic Emerging Industries)with high technological level,low resource consumption,development potential and outstanding social and economic benefits have become the fundamental way for countries to promote sustainable economic development.But the innovation of science and technology is accompanied by huge capital demand.Thus a financing approach that in line with the characteristics of SEI is the most important thing to support the industry development.PEI(Private Equity Investment)as the most favorite financing platform in the current market,could provide financial support and value-added services for the target enterprise at the same time while its pursuit of high risk and high return.These characteristics of PEI fit in with the urgent demand for financial and management support from SEI,as well as the high growth speed of SEI.So PEI is the most scientific and sustainable financing channel for the SEI.Based on the analysis of the relationship between PEI and SEI at home and abroad,this paper reviews and collates the development of PEI and SEI in China,and theoretical analyzes the importance of PEI and SEI to the national economy,as well as the PEI to the SEI.Finally,by screening the SEI companies listed in domestic GEM(Growth Enterprise Market)from 2012 to 2016 as the research samples,the following conclusions are drawn:1.the performance of the listed SEI companies with private equity stakes is significantly higher than those without private equity stakes,namely private equity participation has promoted the development of SEI.2.among the listed SEI companies with private equity stakes,there is no significant relationship between the shareholding ratio of the private equity and the performance improvement of the SEI companies.