| China's venture capital industry startedin 1980 s.Recently,with the rapid developent of economy, especially after Reform and Opening-up, the number of investment institutions and the total investment is showing explosive growth. VC is mainly focused on the enterprises with high technology and high growth, which not only provides a new financing channel for our country's enterprises, also provides value added service and supervision to the enterprises during the period of investment.Therefore, the study of the impact of venture capital on the enterprise in addition to theoretical significance, but also help to play a role in the management of VC in the enterprise, and promote the healthy and orderly development of enterprises. In the same time, the research on the effect and impact of the VC is also helpful to promote the rapid development of the high-tech industry and the transformation of the industrial structure and improve the quality of economic growth.On the basis of theoretical summary and literature review, the paper studies the corporate governance index system of IPO, using principal component analysis method to analyze the relationship between VC and corporate governance level of IPO company. The research results show that: no matter what the background of VC investment will have a certain impact on the level of corporate governance of the gem.In the stage of financing and rhythm, the background of the state-owned VC institutions, compared to the non state-owned assets of the company's governance level to be small. The reputation and experience in risk investment institutions to establish and the formation of progress of non state-owned background risk investment institutions to grow faster. In the proportion of VC institutions, the risk investment institutions of the state-owned assets in the background of significant higher than the risk of non state-owned investment institutions, and the impact on the level of corporate governance is greater. |
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