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
相关论文
共 50 条
  • [21] Venture capital firms and incubators: Corporations can work with venture capitalists to leverage the strengths of both worlds
    First Round Capital, Boston, United States
    [J]. Res Technol Manage., 6 (40-45):
  • [22] The Role of Entrepreneurial Strategy, Network Ties, Human and Financial Capital in New Venture Performance
    Khan, Najib Ullah
    Li, Shuangjie
    Safdar, Muhammad Nabeel
    Khan, Zia Ullah
    [J]. JOURNAL OF RISK AND FINANCIAL MANAGEMENT, 2019, 12 (01)
  • [23] The Effect of Venture Capital on Enterprise Benefit According to the Heterogeneity of Human Capital of Entrepreneur
    Jin, Xin
    Zheng, Puyang
    Zhong, Ziqi
    Cao, Yali
    [J]. FRONTIERS IN PSYCHOLOGY, 2020, 11
  • [24] Financial Leverage Hits Corporate Performance
    Ahmad, Muhammad Ishfaq
    Wang Guohui
    Hasan, Mudassar
    Rafiq, Muhammad Yasir
    Rehman, Ramiz-Ur
    [J]. ADVANCES IN APPLIED ECONOMIC RESEARCH, 2017, : 125 - 138
  • [25] Financial leverage and financial performance: analysis on the brazilian agribusiness
    Leite, Mauricio
    Guse, Jaqueline Carla
    Hein, Nelson
    [J]. CUSTOS E AGRONEGOCIO ON LINE, 2017, 13 : 203 - 226
  • [26] Financial leverage and performance: the case of financial technology firms
    Papadimitri, Panagiota
    Pasiouras, Fotios
    Tasiou, Menelaos
    [J]. APPLIED ECONOMICS, 2021, 53 (44) : 5103 - 5121
  • [27] Financial Deepening, Venture Capital and Economic Growth in China
    Tu, Lifeng
    Qiao, Guiming
    [J]. PROCEEDINGS OF THE FIRST INTERNATIONAL CONFERENCE ECONOMIC AND BUSINESS MANAGEMENT 2016, 2016, 16 : 216 - 221
  • [28] VENTURE CAPITAL RISK APPROACH BASED ON FINANCIAL CONTRACT
    Wang, Zhongzheng
    [J]. JOURNAL OF INVESTIGATIVE MEDICINE, 2014, 62 (08) : S70 - S71
  • [29] Financial constraints in family firms and the role of venture capital
    Croce A.
    Martí J.
    [J]. Economia e Politica Industriale, 2017, 44 (1) : 119 - 144
  • [30] The value relevance of financial statements in the venture capital market
    Hand, JRM
    [J]. ACCOUNTING REVIEW, 2005, 80 (02): : 613 - 648
12345