风险投资对风险企业IPO功效研究——以我国深市中小板为例

Research on the Effect of Venture Capital on Entrepreneur's IPO——A Case Study of SMEs Board in SZSE

风险投资是专业化投资过程,IPO是参与各方首选退出方式。我国风险投资起步晚、发展缓慢,基于发达国家资本市场得出的有关风险投资的结论未必适用于我国。本文使用深交所中小板相关数据检验风险投资在我国风险企业IPO过程中的具体作用,并对检验结果进行分析。通过对风险投资与风险企业IPO关系研究,为我国风险投资的发展提出合理化建议。

Venture capital is a specialized investment process and IPO approach is the preferred exit channel for it. Ven-ture capital in China started so late and developed slowly. The conclusions about venture capital, based on the capital markets in developed countries, may not be applicable to china. Using the related date of SMEs board, this paper tested the effect of venture capital on entrepreneur＇s IPO and analyzed the results. By the study of relationship between venture capital and entrepreneur, this paper put relevant recommendations for further development to VC in china.