Research On Corporate Governance Of Southeast Asian Corporations

The 18th National Congress of the Communist Party of China pointed out that scientific and technological innovation should become an important strategic support to improve the social productivity and comprehensive national strength.However,throughout the country,the technological innovation industry in the northwest region generally shows the characteristics of weak foundation and weak innovation of enterprises.Since its birth,venture capital has been linked with high-tech industry and technological change.Venture capital can not only provide funds for enterprises,but also play an important role in technological innovation.According to different sources of capital,venture capital can be divided into government background,private background,foreign capital background and joint background.Practice shows that there are differences in the impact of venture capital institutions with different backgrounds on enterprise technological innovation.So,under the existing conditions of weak economic and enterprise innovation capacity in Northwest China,which type of background of venture capital can be more suitable for the development characteristics of regional enterprises,and more effective to improve the technological innovation capacity of enterprises?The in-depth study of this problem will help to find the most suitable venture capital strategy in Northwest China,and has a certain practical significance to comprehensively improve the innovation ability of enterprises.This paper discusses this problem from three perspectives:theoretical analysis,case analysis and empirical comparison.In the part of theoretical research,firstly,it combs the related literature of venture capital and technological innovation at home and abroad,then analyzes the development status and existing problems of venture capital industry and technological innovation industry in Northwest China;at the same time,it uses case analysis to further compare the impact of venture capital on technological innovation of enterprises in Northwest China under different backgrounds,and obtains the government's conclusion The background of venture capital institutions can stimulate the understanding of innovation vitality of enterprises.In order to further test this understanding,in the part of empirical research,we compare the two samples from the perspective of the whole country and the northwest region,and explain the pre investment screening effect and post investment value-added effect.The results show that:the pre investment screening effect and post investment value-added effect of government background venture capital on technological innovation of enterprises are stronger than that of private enterprises,but this result is not significant;while the pre investment screening effect of government background venture capital institutions in Northwest China is smaller,but the post investment value-added effect is larger,which perfectly matches the high-tech enterprises in Northwest China The characteristics of weak development but in urgent need of development.Through further research,we also found that the actual controller of the government background venture capital institutions invested in the relevant enterprises in the northwest region is usually the national level policy tilt fund or the local government specially established fund,which once again shows that the local government's own venture capital institutions have a special role in promoting the technological progress of enterprises in the region.Therefore,in order to improve the technological innovation ability of enterprises in Northwest China,we suggest that:first,we should strengthen the establishment of local venture capital system;second,we should formulate preferential policies to support local government background venture capital institutions;third,we should optimize the tax structure to promote innovation;fourth,we should pay attention to the endogenous growth of enterprises' innovation ability.