The Influence Of Strategic Equity Capital Sources On The Growth Of Listed Companies

Since the 18th national congress of the communist party of China,the country has vigorously promoted supply-side structural reform,and enterprises have subsequently carried out supply-side reform to reduce production costs,pursue quality and improve efficiency.As an important part of the capital market,strategic equity capital has great influence on the supply-side reform of enterprises.The core issue of this paper is to demonstrate the impact of strategic equity capital on corporate growth and the impact of strategic equity capital from different capital sources on corporate growth.As an important provider of strategic equity capital,the role of institutional investors has always been concerned.In this paper,the institutions that provide strategic equity capital for enterprises are divided into enterprise equity investors and financial equity investors,and the different impacts of the two on the growth of enterprises are compared.In the research process,when the sample companies are strategic emerging enterprises,non-strategic emerging enterprises,state-owned enterprises and non-state-owned enterprises,etc.This paper selects the companies that have private placement in China A stock market as the research object.The main conclusions of this paper are as follows:first,compared with financial equity capital,corporate equity capital has a significant role in promoting the introduction of institutional strategic equity capital of listed companies;Second,compared with listed companies that introduce non-institutional equity capital,listed companies that introduce institutional strategic equity capital(including corporate capital and financial capital)have more growth potential.Third,in terms of the introduction of external equity capital(including institutional and non-institutional)listed companies,the introduction of strategic equity capital of listed companies more growth;Fourth,compared with financial equity capital,corporate equity investors play a significant role in promoting the growth of non-strategic emerging enterprises.Fifth,compared with financial equity capital,corporate equity investors play a significant role in promoting the growth of non-state-owned enterprises.