吸收风险投资对企业投资效率的影响研究--基于创业板的数据研究

以创业板上市公司为研究对象,就初创公司上市后是否吸收风险投资、吸收风险投资的比例以及是否存在风险投资机构的联合投资展开实证研究。结果表明:公司上市后风险投资参与仍可以显著提高企业的投资效率,风险投资比例越高,越有利于提高投资效率,联合投资也对此有正向促进作用。

Research on the Impact of Absorbing Venture Capital on the Investment Efficiency of Enterprises: Empirical Analysis Based on GEM Data

Taking GEM listed companies as the research object,this paper makes an empirical study on whether start-ups absorb venture capital,the proportion of venture capital and whether there are joint investments by venture capital institutions after listing.The results show that venture capital participation can still significantly improve the investment efficiency of the company after listing.The higher the proportion of venture capital,the more conducive to improve the investment efficiency,and the joint investment also plays a positive role in promoting investment efficiency.