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Research on the Impact of Private Equity Investment on the Growth of Innovative SMES

In: Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

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  • Yichun Chen

    (Beijing Normal University-Hong Kong Baptist University United International College, Division of Business and Management)

Abstract

This paper selects 711 listed enterprises in the innovation layer of NEEQ from 2016 to 2020 as research samples to study the impact of PE participation in investment with its participation degree and investment background on enterprise business performance and innovation ability. Through multiple regression analysis, the following conclusions are drawn: PE investment has a significant negative impact on return on assets (ROA) of enterprises at the innovation layer of NEEQ, and has a significant positive effect on TIR of enterprises’ technology investment ratio. Compared with private PE, PE with state-owned background has no significant improvement effect on ROA, and PE with state-owned background has no significant impact on the TIR.

Suggested Citation

  • Yichun Chen, 2023. "Research on the Impact of Private Equity Investment on the Growth of Innovative SMES," Advances in Economics, Business and Management Research, in: Hrushikesh Mallick & Gaikar Vilas B. & Ong Tze San (ed.), Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022), pages 406-420, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-098-5_47
    DOI: 10.2991/978-94-6463-098-5_47
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