Research On The Influence Of Private Equity Investment On The Market Value Management Of GEM Listed Companies

From the policy background and the development of private equity investment in the growth enterprise market situation two aspects in this paper,the research background,the main policy background for the reform of non-tradable shares in 2005 market value management concept,the listed company by using the method of scientific compliance optimization strategy management behavior to realize value-added.In 2015 the state council on reform and perfect the management system for state-owned assets several opinions mentioned to improve the operational efficiency of capital,promote the rational flow of capital management to realize enterprise value for value.In 2016 the state council on promoting the sustained and healthy development of venture investment of several opinions of the proposed venture investment to promote the public entrepreneurial innovation,guide the investor receives the value investment idea to encourage long-term investment and value,strengthening the management of value-added services after.Industry association announced in 2016 private equity investment institutions of 1 m and the management of capital accumulated up to more than 7 trillion yuan of total assets,market,China became the second big equity investment institutions to register the staff more than 200000 people,including professional proportion increases.Through private equity investment in the annual,industry,regional 3 perspectives and investment cases and investment in the two aspects of the overall intuitive discussion of the current situation of the industry.The statistics of the listed capital and market value of gem,whether there exists the private equity investment year and the distribution of the industry to discuss the development status of private equity investment in the gem market.This study has theoretical and practical significance for theory of value management related theory to supplement and realistic significance for the need of financing companies and private equity investment institutions to provide certain reference and the financing needs of company can choose according to their own development and business plan financing way.For private equity investment institutions,they can choose the shareholding ratio and shareholding period of the investment object and investment according to the difference of their investment plan and purpose.Through searching for information and reading a large number of literatures,private equity investment has positive influence,negative influence and no influence on market value management,and then sorts and studies literature from three kinds of effects.This article innovation point is the use of market value of listed company management performance evaluation index(MVM)system,MVM value was obtained,the market value of management level using more direct quantitative indicators,empirical analysis of private equity investment impact on the gem market value management research.The main deficiency is that the empirical research part has a short selection of data and incomplete data coverage.It is hoped that the study and study will be improved in the future.The definition of private equity investment,investment characteristics and investment operation flow are discussed in the theory.This article discusses the definition and necessity of value management,economic and financial environment,policies and regulations,and company value management factors,from internal and external mutual adjustment and market value management method in different types of investors.Based on the theoretical analysis of the influence of private equity investment on the market value management,the paper puts forward the research hypothesis of the three aspects of private equity investment,shareholding ratio and shareholding period.In the empirical analysis on the analysis of the value of management factors and the market value of listed company management performance evaluation index(MVM)system for factor analysis,17 indexes that value management is affected by many factors,has a certain analysis system,we analyze and study in as much as possible should be combined with sexual description and analysis of the influence factors of value management.In this paper,the factor analysis of the SPSS 19.0 software was used to analyze the factor analysis using SPSS 19.0 software by using the theory and related research methods of the previous scholars.The virtual variables were introduced to determine whether there were private equity investments.By means of the definition of explanatory variables and control variables and related data collection,the regression analysis and robustness test were conducted by using Stata12.0.Through theoretical analysis and empirical test,the market value management performance of gem listed companies with investment is better.The higher the shareholding ratio and the longer the investment duration,the better the market value management performance of the investment in the gem listed companies.For companies that need financing and private equity investment institutions to provide a certain reference,companies with financing needs can choose financing methods according to their own development and operation plans.For private equity investment institutions,they can choose the shareholding ratio and shareholding period of the investment object and investment according to the difference of their investment plan and purpose.Finally,the relevant policy recommendations of financing enterprises,private equity investment and regulatory departments are pointed out.