Dissertation > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Financial market

The Effect of the Participation of the Private Equity Fund on Corporate Growth

Author ZhaoFeng
Tutor YeDeZhu
School Jinan University
Course Finance
Keywords Private equity investment fund GEM Reputation
CLC F832.5
Type Master's thesis
Year 2013
Downloads 68
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Private equity is a form of private fund-raising,to invest the non-listed companies, pursuitsthe portfolio of maximize the value of the enterprise. Private equity provide more value-addedservices such as strategic direction, channel management, legal and financial, to help enterprisesgrow the value.The results of foreign research shows that the involvement participation and reputation ofprivate equity investment institutions, have a substantial impact on the growth of the portfoliocompanies, standardized corporate governance structure, and improving the performance ofincoming. However, China’s private equity investment fund market development time is shorterthan foreign,the related policies and regulations, capital market is not perfect,the results offoreign research are applicable to the environment of our country or not is worthy of furtherstudy.In this paper, combined with Chinese actual situation, we do the research of our country tofind out the influence of private equity investment fund on growth of Chinese enterprises. Weanalyze whether the private equity have positive impact on the growth the portfolio ofcompanies.We Select281companies as samples in the Shenzhen GEM, and divided into two groups inaccordance with the shareholders whether have private equity investment fund background.Theresult shows that the growing of GEM listed companies with private equity investment fundbackground is better than without private equity investment fund background. And the growingof GEM listed companies with higher reputation is better than lower reputation.The venture companies are pleased to introduce the private equity investment institutions,specially with higher reputation.At the same time private equity investment institutions shouldstrengthen the post-investment management, providing value-added services, becoming a fulllife-cycle financial service providers, help the enterprises to quickly grow and ultimately, get thehigh investment income.

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