Study Of The Influencing Factors Of China's Private Equity Investment Exit Performance

In the development of national economy,small and medium-sized enterprises are increasing in terms of the proportion of the number of enterprises in China,the number of jobs they provide,or the contribution degree of GDP.However,in the course of its development,small and medium-sized enterprises in their own development process is still facing many restrictions and constraints,compared with the larger enterprises in a weak position,small scale,slow development,low risk resistance,less mortgage assets,so small and medium-sized enterprises in financing is still facing financing difficulties,high cost and other issues,in this context,China's private equity investment has gradually joined the important way of financing of small and medium-sized enterprises.For SMEs,private equity investment plays a key role in their development.This paper analyzes the development of private equity investment,and influencing factors of private equity investment exit performance,puts forward the relevant research assumptions,uses econometric software Stata11.0,descriptive statistics and multiple regression analysis are conducted on factors influencing the exit performance of private equity.The empirical results show that the exit performance of private equity institutions is positively affected by the return on equity,investment duration,registered size and location of the invested enterprises.This shows that the invested enterprise internal capital management ability,capital scale can meet the enterprise qualification requirements,industry bidding threshold requirements,improve the exit performance of private equity investment institutions.In addition,the exit performance of private equity institutions also shows that because of the return of capital markets to rational investment,short-term speculation will not be the best choice,long-term investment can truly achieve corporate profitability and value improvement.Not only is the internal environment of the enterprise,the invested enterprise is located in the area of entrepreneurship and innovation environment,investment environment,economic environment or social environment is more developed,but also conducive to private equity investment institutions to choose better projects,so as to improve the exit performance.According to the results of the empirical study,this paper puts forward some suggestions on how to optimize the development of private equity investment and improve the performance of private equity investment.