Research On The Path Of Influence Of Shenzhen Venture Capital And Saifu Asia On The Enterprise Value Of Hybio Pharmaceutical

In order to realize the transformation of national industry,China has taken some comprehensive measures to promote the development of venture capital and innovation-oriented enterprises,so as to improve the overall national strength.Venture capital greatly promotes the development of the invested enterprises and has certain influence on the enterprises in various aspects such as corporate governance and innovation ability.Venture capital can not only ease the capital shortage of enterprises,but also improve the corporate governance structure,increase the R&D investment,increase the risk project management experience,expand the network resources,etc.,and promote the enterprise value of the invested enterprises.Therefore,further exploration of the influence path of venture capital on the value of invested enterprises is conducive to the mutual benefit and win-win of venture capital institutions and invested enterprises.Based on the principal-agent theory,resource-based theory,information asymmetry theory,screening and supervision theory,this paper carries out the follow-up theoretical path analysis and case analysis,and applies the method of combining theoretical analysis with case analysis and comparative analysis.Firstly,the influence path of venture capital on the value of the invested enterprise is analyzed from the theoretical perspective.In other words,the first path is that venture capital influences the enterprise value by improving the corporate governance level of the invested enterprise.The second way is that venture capital influences the enterprise value by improving the technological innovation ability of the invested enterprise.Path one is subdivided into two paths: venture capital influences corporate governance by improving corporate ownership structure and optimizing the characteristics of the board of directors.Path two is subdivided into two paths: venture capital influences the technological innovation ability of enterprises by providing financial support and value-added services.Then adopt the method of case study,in order to deep venture capital and rich investment fund of squire in the Asia pharmaceutical industry as an example,from the Angle of case to further analyze the impact of risk investment to the invested enterprise value path,by using index quantification of squire pharmaceutical company level of management,technology innovation ability and the enterprise value,compared with mastery in pharmaceutical company index data of horizontal comparison and index data of the longitudinal comparison before and after their risk investment.The results of the case study showed that: first,the entry of deep venture capital and saifu Asia promoted the corporate governance level of Hybio Pharmaceutical.Second,the entry of deep venture capital and saifu Asia promoted and improved the technological innovation ability of Hybio Pharmaceutical.Third,the entry of deep venture capital and saifu Asia promoted the enterprise value of Hybio Pharmaceutical.Then the conclusion is drawn: first,deep venture capital and saifu Asia improve the corporate governance of Hybio Pharmaceutical by improving its shareholding structure and optimizing the characteristics of its board of directors,thus affecting its corporate value.Second,deep venture capital and saifu Asia improve the R&D output by providing a large amount of funds to support the R&D investment and provide value-added services for Hybio Pharmaceutical,so as to improve the technological innovation ability of Hybio Pharmaceutical and thus enhance the enterprise value.At last,this paper puts forward relevant Suggestions for venture capital institution deep venture capital,saifu Asia and invested enterprise Hybio Pharmaceutical,and points out the deficiencies in this research.This study explores the path and effect of venture capital on the value of invested enterprises,which is conducive to the mutual benefit and win-win between venture capital institutions and invested enterprises.