On the Influence Venture Capital Exerts on SMEs Technology Innovation

DOI

10.2991/icitme-18.2018.48How to use a DOI?

Keywords

technology innovation; SMEs, venture capital; innovation input; innovation output

Abstract

Based on the GEM Board panel data of 287 listed companies in the manufacturing industry. A regression model and a negative binomial distribution model with venture capital as explaining variable and technology innovation as explained variable were built by the researcher. This paper makes an empirical analysis of influence that venture capital participation and participation degree exert on SMEs technology innovation input and output. Research and analysis showed that the participation of venture capital plays positive role in promoting small and medium enterprises technology innovation input and output; But it is not true to the higher shareholding ratio, the more output. There will be a negative effect if the shareholding ratio beyond certain limit. The participation degree of Venture capital has no significant influence. So venture capital should be introduced to the SMEs technology innovation activities but it ratio should not exceed certain limit.

Copyright

© 2018, 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  - Zhiwu Chen
AU  - Ying Chen
PY  - 2018/08
DA  - 2018/08
TI  - On the Influence Venture Capital Exerts on SMEs Technology Innovation
BT  - Proceedings of the 2018 International Conference on Information Technology and Management Engineering (ICITME 2018)
PB  - Atlantis Press
SP  - 233
EP  - 237
SN  - 1951-6851
UR  - https://doi.org/10.2991/icitme-18.2018.48
DO  - 10.2991/icitme-18.2018.48
ID  - Chen2018/08
ER  -