Research On The Impact Of Private Equity Investment On The Value Of NEEQ Companies

In recent years,the new three board market is developing rapidly,more and more private equity investment(PE)institutions choose to hang on the new three boards.The active participation of PE institutions in the new three board enterprises has greatly improved the activity of the new three board market,and has also played a positive demonstration effect on other investors' investment in the new three board businesses.What's more,PE is more and more involved in the new three board enterprises.It has a positive significance for alleviating the financing difficulties of SMEs,improving their management level and enhancing their own value.Therefore,we hope to provide the basis and reference for the decision-making of private investment institutions,new three board listed companies and relevant government departments through this study.Firstly,using the method of literature research related literature and theory at home and abroad is reviewed and summarized,analyzed the status quo and development of China's private equity investment and the new board;secondly,based on the 2014 January three new board listed companies including PE investment as a sample,using SPSS statistical software,and through the construction of multiple linear regression model for univariate analysis,and test the influence of PE on investment value of the new board company.Univariate analysis showed: the number of enterprises the number of three new board enterprise PE enhance the overall value of up to a certain effect,but the effect is not obvious;PE holding a high proportion of new three enterprises in debt,growth,business and profitability is stronger,but with the listing time,influence gradually decreased;PE the reputation of the three new board listed companies at the beginning of the solvency of the negative impact,and the impact on the operating capacity and profitability,growth ability is more active.Multiple regression analysis shows that the number of PE and the proportion of shareholding have a positive effect on the promotion of the value of new three board enterprises,while PE reputation has no significant effect on the value of new three board enterprises.A comprehensive analysis of the advantages and disadvantages ofPE's impact on the value of new three board enterprises,increasing the number and proportion of PE,and selecting reputable PE cooperation will help improve the overall value of the new three board enterprises.