创业融资对就业创造的长期影响——基于风险投资和天使投资的作用

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-07-08 DOI:10.1016/j.frl.2025.107930

Mi Zhang , Ning Zhou , Jie Gao , Ping Jiang , Yang Zhang , Yining Wang , Lusha Chen

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引用次数: 0

摘要

本研究探讨了天使投资和风险投资对就业创造的长期影响，并考察了高管财务背景的调节作用。研究发现：天使投资和风险投资对就业创造都有显著的正向影响，高管财务背景可以调节创业融资对就业创造的影响。此外，高管财务背景的作用在盈利和非盈利企业之间表现出异质性，影响了创业融资对就业创造的有效性。通过实证分析，本研究旨在为政策制定者、投资者和创业公司提供有价值的见解和建议。

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The long-term impact of entrepreneurial financing on job creation based on the roles of venture capital and angel investment

This study explores the long-term impact of angel investment and venture capital on job creation, and examines the moderating effect of executives' financial backgrounds. The findings are as follows: both angel investment and venture capital have a significant positive impact on job creation, and executives' financial backgrounds can moderate the effect of entrepreneurial financing on job creation. Furthermore, the role of executives' financial backgrounds exhibits heterogeneity between profitable and non-profitable enterprises, influencing the effectiveness of entrepreneurial financing on job creation. Through empirical analysis, this study aims to provide valuable insights and recommendations for policymakers, investors, and entrepreneurial companies.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance