Research On The Performance Of Private Equity Investment In Small And Medium-Sized Technology Enterprises

The problem of enterprise financing has been the key to restrict its development,and enterprise performance is the direct embodiment of financing effect.Therefore,performance is a key concern for both sides of financing and all stakeholders of the enterprise.In the era of innovation and entrepreneurship,small and medium-sized technology enterprises are in urgent need of solving financing problems.The government has also issued many measures for this,including government financial support,reducing bank loan interest rate,intellectual property mortgage,etc.However,due to the lack of mortgage assets and more constraints of financial policies,these measures are difficult to implement.In foreign countries,there are many countries to take the way of private financing for small and medium-sized technology enterprises.In recent years,Chinese enterprises have begun to learn from this approach.But whether this new financing mode can bring about the improvement of enterprise performance needs further study.Because there are few studies on the performance of private equity investment in small and medium-sized technology enterprises in China,it is necessary to conduct targeted performance research on such enterprises.From the perspective of the investee,the author chooses the representative T company among the small and medium-sized technology enterprises as the research sample based on the comprehensive consideration of many aspects,and uses the financial index method to conduct the vertical analysis on the performance of T company,and the factor analysis method to conduct the horizontal analysis on the performance of T company within the industry.At the same time,the author studies the non-financial effects of private equity investment on the capital structure,governance structure,research and development expenditure of T company The impact of business indicators.In the process of research,it is found that T company is faced with the following problems: diluted immediate return,diluted control of the original shareholders,increased risk of accounts receivable and shortage of talents.In this regard,this paper also puts forward corresponding suggestions:to fill the diluted immediate return to protect the interests of the original shareholders;to change the sales mode and optimize accounts receivable management;to implement talent strategy and build a high-quality talent echelon.Through the above performance research,we can draw the following conclusions: the introduction of private equity has a good market performance,financial indicators performance is not ideal,but non-financial performance has a significant role in promoting.In general,private equity investment can have a positive impact on the performance of small and medium-sized technology enterprises.