Venture Capital Participation and Growth of High-tech Enterprises in Western Regions

doi:10.3969/j.issn.1005-6378.2018.05.014

Abstract

Abstract: High-tech enterprises are the core carriers for the development of science and technology innovation. The influence of venture capital participation on high-tech enterprises is a long-term issue for both theoretical and practical circles. This article takes a sample of more than 30 high-tech sector listed companies in underdeveloped western regions with relatively slow economic development, focusing on the effect of venture capital on the performance of such companies, and providing them with the means to improve the development of venture capital industries high-tech industries in less developed regions. The study found that the positive effect of venture capital participation on the overall performance of high-tech companies is not ideal, but when venture capital investment in the target company is relatively high, it can indeed help improve its performance. This conclusion shows that the governments of underdeveloped areas must pay particular attention to the support of the venture capital industry, and formulate corresponding policies to support the development of high-tech industries, and give full play to the boosting effect of venture capital on high-tech and innovation.

Key words: venture capital background, participation, high-tech enterprise, business performance

CLC Number:

F276

JI Xin-long, REN Jia-tong. Venture Capital Participation and Growth of High-tech Enterprises in Western Regions[J]. JOURNAL OF HEBEI UNIVERSITY (Philosophy and Social Science), 2018, 43(5): 117-125.

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