The Impact of Private Equity on Corporate Performance: An Empirical Research of the Listed Companies on GEM

DOI

10.2991/aebmr.k.191217.151How to use a DOI?

Keywords

Private Equity, Corporate Performance, Growth Enterprises Market

Abstract

On the basis of reviewing the previous literature, this paper puts forward hypotheses through certification hypothesis, monitoring hypothesis and grandstanding hypothesis. We select listed companies on Shenzhen growth enterprise market from 2014 to 2018 as the research objects, aiming to analyze the impact of private equity on corporate performance and to further study whether the private equity industry in China has been developed in a healthy, standardized and orderly way after China formally implemented the Interim Measures on the Supervision and Management of Private Equity Funds in 2014. The research results show that private equity contributes to the improvement of the company’s operating performance, and the higher the shareholding ratio of private equity, the better the corporate performance, which supports the certification hypothesis and monitoring hypothesis.

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  - Fan Xin
AU  - Wu Xiumin
PY  - 2019
DA  - 2019/12/20
TI  - The Impact of Private Equity on Corporate Performance: An Empirical Research of the Listed Companies on GEM
BT  - Proceedings of the 2019 International Conference on Economic Management and Cultural Industry (ICEMCI 2019)
PB  - Atlantis Press
SP  - 881
EP  - 888
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.191217.151
DO  - 10.2991/aebmr.k.191217.151
ID  - Xin2019
ER  -