Venture Capital and Management Quality:Empirical Evidence for Listed Company Initial Public Offerings Effect

doi:10.3969/j.issn.1005-6378.2018.05.013

Abstract

Abstract: As a financial innovation, venture capital plays an important role in economic development, while there is no consistent conclusion about the IPO effect of venture capital. Based on management quality, this paper makes use of listed company data of 2009-2015 to study the effect of these two variables on a firm’s IPO and post-IPO effect. This paper finds that venture capital can improve management quality, alleviate agency problem and information asymmetry to promote the standardization and rationalization of companys management behavior.

Key words: venture capital, management quality, market effect, IPO

CLC Number:

F830

LIU Xia, REN Yi-jia. Venture Capital and Management Quality:Empirical Evidence for Listed Company Initial Public Offerings Effect[J]. JOURNAL OF HEBEI UNIVERSITY (Philosophy and Social Science), 2018, 43(5): 105-116.

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