Research On The Motivation And Performance Of Integrated Circuit Enterprises To Introduce Strategic Investors

In recent years,China’s integrated circuit industry has faced technical blockades and supply chain restrictions in capitalist countries led by the United States,and nearly a hundred Chinese high-tech enterprises in the United States have been included in the "Entity List",forcing Chinese integrated circuit enterprises to take the road of "Domestic Substitution".In order to support the development of integrated circuits,the state has set up a national fund,and its strategic purpose is to help China’s integrated circuit enterprises survive the bottleneck period of industry development,achieve technological breakthroughs,and rank among the forefront of the world.Therefore,whether the introduction of strategic investors can bring about the expected development of the enterprise,and in what way strategic investors can influence the development of the company,is a question worth studying.In this paper,using the case study method,Giga Device is selected as the research object to study the motivation and performance of Giga Device innovation to introduce strategic investors.This paper first elaborates on the research background,research significance,research methodology research framework,possible innovation points and shortcomings.Secondly,the literature on the motivation and performance impact of domestic and foreign scholars on the introduction of strategic investors by enterprises is sorted out,and the relevant theoretical basis involved in the article is elaborated.Thirdly,the basic situation of Gigabit Innovation and strategic investors,the motivation of Giga Device to introduce strategic investors,and the scheme of Giga Device innovation to introduce strategic investors were introduced.Then,from the four perspectives of "strengthening the incentive mechanism,promoting the strategic layout,alleviating financing pressure and increasing R&D investment",the role path of the introduction of strategic investors on the performance of enterprises is further analyzed,and the EVA evaluation method and the comprehensive evaluation method are used to analyze the impact of the introduction of strategic investors on the performance of enterprises;From the horizontal and vertical comparison of "profitability,solvency,operational ability,growth ability and financing ability",the impact of the introduction of strategic investors on the financial performance of enterprises is analyzed;From the four aspects of "capital market response,market share,talent construction and R&D output",the impact of the introduction of strategic investors on the non-financial performance of enterprises is analyzed.Finally,according to the analysis,the corresponding conclusions and enlightenment are obtained.The study found that the introduction of appropriate strategic investors can not only optimize the equity structure and improve the governance mechanism,so as to improve the strategic layout of enterprises and improve the efficiency of enterprise operations,but also alleviate the financing constraints of enterprises and bring sufficient cash flow to enterprises,thereby helping enterprises increase R&D investment,improve innovation capabilities,and improve enterprise performance.Gigabit Innovation introduced the National Fund to achieve complementary advantages,produce good synergy effects,and promote the development of the integrated circuit industry.It is hoped that through this case,it can provide reference and reference significance for other integrated circuit enterprises in China to introduce strategic investors.