风险投资参与对中小企业上市的影响及原因分析

XCLW49582  风险投资参与对中小企业上市的影响及原因分析  (字数：12927)

摘 要

改革开放以来，中小企业在经济增长放缓，就业压力，改革创新等国内经济市场增长方面发挥了重要作用，人民。

虽然中小企业在经济发展中起着重要的作用，但是由于规模小，实物资产少，会计不完善，缺乏有效的担保，融资不是这样。这严重限制了增长。

风险投资机构有专家从事股权投资，通过对管理信息的管理和监督，减少信息不对称，双方存在问题，促进上市，以获得更多的资金用于企业发展，具有中国风险投资机构筹集资金，数量规模不断扩大，现在在风中解决了中小企业融资困难的快速发展，已成为中小企业的重要手段，最重要的是资金来源。

本文使用文献分析中小企业的概念和风险投资逐年比较，并采用比较分析的方法，从实际的角度，对小板和宝石的财务比率进行了全面比较深圳129家公司连续3年入选风险投资参与背景，风险投资背景有利于风险投资，高科技投资企业，探索风投对中小企业样本的影响方式，根据风险投资和中小企业经营的判断理由。最后得出结论。  

关键词：风险投资；创业投资；中小企业；财务指标 

Abstract

Reform and opening date, the growth of SMEs in the domestic market in the economy, with steady growth, ease the employment pressure, reform and innovation, to meet the various needs of the people and other important utility.

Although SMEs play a pivotal role in economic development, but more because the number of small-scale, less tangible assets, accounting is not perfect, the lack of effective security issues such as financing is not a case. This severely limits the growth of SMEs.

Venture capital institutions engaged in equity investment experts can participate through their management and oversight of management with financing and reduce the problem of asymmetric information generated to promote its listing to get more funds for the development of enterprises, with the Chinese mainland to raise funds, expanding the number of venture capital firms, is now involved in venture capital has become an important solution to the rapidly growing problem of financing SMEs, and has become the most important source of fund-raising mainland SMEs.

This selection of literature analysis of SMEs and venture capital concept evolution conduct yearly comparison, and the use of comparative analysis, from the reality on the Shenzhen SME Board and GEM 129 companies for three consecutive years of comprehensive financial ratios in contrast, prior to listing has screened venture involved in the background, and the background in favor of venture capital venture capital, high-tech enterprises to invest and explore the impact of mining on whether the venture sample of SMEs in the end in what areas, and then judge for these areas venture capital  participation and influence reason SMEs operations. Finally, according to the study concluded.

Key words:risk investment    Venture Capital    small and medium-sized enterprise（SME）    Financial Index

目 录

摘 要 II

Abstract III

一 绪论 1

（一）研究背景和意义 1

（二）研究方法和思路 2

1.文献分析法 2

2.比较分析法 2

二 文献综述 3

（一）相关概念 3

1.风险投资 3

2.中小企业 3

（二）国内外文献回顾 5

（三）文献小结 6

三 风险投资投资中小企业情况 7

（一）中国风险投资结构细分 7

（二）风险投资参与到中小企业上市的过程 8

四 风险投资选择中小企业的原因 9

（一）行业性质 9

（二）投资项目发展阶段 9

（三）投资额和投资规模 9

（四）风险投资的预期性 9

五 有无风险投资参与中小企业上市财务对比 11

（一）风险投资国内情况 11

（二）样本企业概况 12

1.选取样本板块和选取样本企业 12

2.样本企业风投背景情况 12

3.样本企业行业分布情况 13

（三）样本企业财务指标情况 15

六 风险投资对已上市中小企业的影响 17

（一）风险投资参与有利于对中小企业内部治理 17

（二）风险投资参与有利于中小企业外部融资环境 17

（三）风险投资参与有利于中小企业技术创新 18