Research on the Influence of Venture Financing on Enterprise Growth

Yi-Ning Niu, Linqian Jiao
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Abstract

Innovation is the core force of economic development and social progress. Entrepreneurship, as the foundation of innovation, leads the development trend of the times. A large number of innovative enterprises are constantly emerging, providing a powerful impetus for economic growth. However, the high risk of start-up enterprises will inevitably lead to financing difficulties. The participation of venture financing can obviously affect the growth efficiency and efficiency of enterprises, and the capital expansion ability, profitability, solvency, operation ability and innovation ability of enterprises with venture financing are better than those without venture financing; The background and financing type of venture capital will also affect the solvency and operational ability of enterprises to varying degrees; However, the risk financing participation and its characteristic variables have no significant influence on enterprise management ability. Risk financing has a time effect on the growth efficiency of enterprises, and its effect weakens with the increase of years. This paper analyzes the effect of venture financing on the growth of enterprises accurately, and provides reference for venture enterprises to strive for venture capital and increase the growth of fans.
风险融资对企业成长的影响研究
创新是经济发展和社会进步的核心动力。创业是创新的基础,引领时代发展潮流。一大批创新型企业不断涌现,为经济增长提供了强大动力。然而,创业企业的高风险必然会导致融资困难。风险融资的参与可以明显影响企业的成长效率和效益,有风险融资的企业的资本扩张能力、盈利能力、偿债能力、经营能力和创新能力都优于没有风险融资的企业;风险投资的背景和融资方式也会不同程度地影响企业的偿债能力和经营能力;而风险融资参与及其特征变量对企业经营能力的影响不显著。风险融资对企业成长效率具有时间效应,且随年份增加而减弱。本文准确分析了创业融资对企业成长性的影响,为创业企业争取创业投资、增加成长性提供参考。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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