风投介入、风投声誉与创业板公司的成长性

发布时间：2018-02-26 09:15

本文关键词： 风险投资风险投资声誉创业板公司成长性创业板制度　出处：《财贸经济》2012年06期 　论文类型：期刊论文

【摘要】：本文以2010年12月31日前在深交所创业板上市的153家公司为研究样本,重点考察风险投资介入与风险投资声誉对创业板公司成长性的影响。研究发现:(1)风投背景公司的短期成长性显著高于无风投背景公司,而两类公司的长期成长性无显著差异,表明风投的介入,主要促进了创业板公司的短期成长性;(2)风投参与度的高低,对创业板公司的短期成长性和长期成长性均不构成显著影响,提高风投的参与度,并不能提升创业板公司的成长性;(3)高声誉风投支持公司的短期成长性显著高于低声誉风投支持公司,而两类公司的长期成长性无显著差异,表明风投声誉只对创业板公司的短期成长性起到促进作用。本文的结果表明,我国风险投资片面重视创业板公司的短期成长性,而对其长期成长性缺乏关注和推动。
[Abstract]:This paper takes 153 companies listed on the growth Enterprise Market of Shenzhen Stock Exchange before December 31st 2010 as the research sample. It is found that the short-term growth of venture capital companies is significantly higher than that of companies without venture capital background, but there is no significant difference in long-term growth between the two types of companies. It shows that the involvement of venture capital mainly promotes the short-term growth rate of gem, and has no significant effect on the short-term growth and long-term growth of gem, and improves the participation of venture capital. The short-term growth of high reputation venture capital support companies is significantly higher than that of low reputation venture capital support companies, but there is no significant difference in long-term growth between the two types of companies. The results of this paper show that venture capitalists pay one-sided attention to the short-term growth of gem companies, but lack of attention and promotion to their long-term growth.
【作者单位】：广东金融学院会计系;
【基金】：教育部人文社会科学研究青年基金项目(编号:12YJC630008) 广东省哲学社会科学规划项目(编号:GD11YGL02)的资助
【分类号】：F832.48;F224

【共引文献】