Initial Public Offering Influence On That Innovative Behavior And Effects Of Private Enterprise

With the rapid development of economy,the number of new and high technology private enterprises listed is also increasing.Why do so many private enterprises want to IPO? What benefits can IPO bring to the private enterprise? And what impact will it ultimately have on private companies? It's worth studying.For the high-tech private enterprise,innovation is the driving force of its sustainable development.This paper takes 2011 listed high-tech corporation Wuhan Jinyun Laser Co.,ltd.as an example,adopt the method of theory analysis combined with case analysis,focusing on the analysis of its listing on innovation.Firstly,this paper analyzes the impact of enterprise IPO on innovation theoretically.Then combine with theoretical analysis and practical cases,this paper studies the impact of enterprise IPO on innovation behavior and effect of private enterprises.Through the research on the impact of the typical high-tech private enterprise of Jinyun Laser company IPO on its innovative behaviors and effects,this paper concludes:(1)the high-tech private enterprises IPO is to obtain funds and alleviate their financing constraints;(2)although the private enterprise obtains large amount of stable capital through IPO,it inhibits its innovative behavior;(3)private enterprises IPO ultimately has a negative impact on its innovation effect,namely,the resource curse effect is generated,which affects its core competitiveness and is not conducive to the long-term development of the enterprise.This article is based on the perspective of enterprise IPO,studies its influence on the innovation behavior and effect of private enterprises,on the one hand,it can improve the research on the impact of enterprise IPO on private enterprise innovation,enriches the perspective and theoretical system of relevant research.On the other hand,it can provide experience for the future rational selection of non-listed enterprises.