Venture Capital and Technological Innovation in High-Tech Enterprises: Data from Listed Companies on the Growth Enterprise Market

DOI

10.2991/sschd-19.2019.89How to use a DOI?

Keywords

High-tech enterprises, Technological innovation, Venture capital, GEM, Patent.

Abstract

The emergence of venture capital is the improvement of domestic and foreign capital markets, which is conducive to the survival and development of high-tech enterprises and economic growth. However, whether the participation of venture capital institutions can promote the technological innovation of high-tech enterprises has not been conclusive. According to the CVSource Investment Database, internet and information technology companies in the high-tech industry have been more favored by venture capital institutions in recent years. This article takes 133 companies listed on the GEM in 2016-2017 as an example, using empirical methods to analyze the impact of venture capital institutions on the technological innovation behavior of high-tech enterprises. The results show that 86% of high-tech enterprises will have risk capital injection in the IPO stage in recent years, and there is a positive relationship between the proportion of venture capital holdings and the technological innovation of high-tech enterprises.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Ran Wu
PY  - 2019/12
DA  - 2019/12
TI  - Venture Capital and Technological Innovation in High-Tech Enterprises: Data from Listed Companies on the Growth Enterprise Market
BT  - Proceedings of the 5th Annual International Conference on Social Science and Contemporary Humanity Development (SSCHD 2019)
PB  - Atlantis Press
SP  - 412
EP  - 418
SN  - 2352-5398
UR  - https://doi.org/10.2991/sschd-19.2019.89
DO  - 10.2991/sschd-19.2019.89
ID  - Wu2019/12
ER  -