Venture capital, financial leverage and enterprise performance

被引：9
|
作者：
Yang, Ruili [1 ]
Xia, Kui [1 ]
Wen, Hongxing [1 ]
机构：
[1] Sichuan Univ, Sch Business, 24 South Ring Rd, Chengdu 610064, Peoples R China
来源：
PROMOTING BUSINESS ANALYTICS AND QUANTITATIVE MANAGEMENT OF TECHNOLOGY: 4TH INTERNATIONAL CONFERENCE ON INFORMATION TECHNOLOGY AND QUANTITATIVE MANAGEMENT (ITQM 2016) | 2016年 / 91卷
关键词：
Financial leverage; Venture capital; Enterprise performance; GEM;
D O I：
10.1016/j.procs.2016.07.048
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper aims to study the relationship among venture capital (VC), financial leverage and enterprise performance by empirical study, utilizing the data from China's GEM (Growth Enterprises Market) listed companies of 2010-2014. The empirical results show that: VC is positively related to enterprise performance, and financial leverage is negatively correlated with corporate performance; Moreover, further research indicates that this negative relationship becomes larger and more significant in the VC-backed firms by introducing the cross term of VC and financial leverage. (C) 2016 The Authors. Published by Elsevier B.V.
引用
收藏
页码：114 / 121
页数：8
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