本文關(guān)鍵詞：戰(zhàn)略性新興產(chǎn)業(yè)私募股權(quán)融資經(jīng)營績效實(shí)證研究　出處：《華南理工大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 戰(zhàn)略性新興產(chǎn)業(yè) 私募股權(quán)投資基金 非參數(shù)檢驗(yàn)

【摘要】：全球經(jīng)濟(jì)危機(jī)過后，各國都在尋找下一輪經(jīng)濟(jì)增長的新動力。我國于2009年提出培育發(fā)展戰(zhàn)略性新興產(chǎn)業(yè)，選定節(jié)能環(huán)保、新一代信息技術(shù)、生物、高端裝備制造、新能源、新材料和新能源汽車七大產(chǎn)業(yè)為重點(diǎn)培育發(fā)展產(chǎn)業(yè)，并期望憑此契機(jī)搶占科技發(fā)展的制高點(diǎn)，調(diào)整我國產(chǎn)業(yè)結(jié)構(gòu)，實(shí)現(xiàn)經(jīng)濟(jì)社會的可持續(xù)發(fā)展。經(jīng)過近幾年的發(fā)展，我國戰(zhàn)略性新興產(chǎn)業(yè)發(fā)展勢頭迅猛，對產(chǎn)業(yè)融資的深入研究成為實(shí)踐中的客觀需要。私募股權(quán)融資作為一種新興的融資方式近年來得到了迅速發(fā)展，并活躍在戰(zhàn)略性新興產(chǎn)業(yè)載體企業(yè)中。 本文主要研究戰(zhàn)略性新興產(chǎn)業(yè)選擇私募股權(quán)融資是否對其經(jīng)營和發(fā)展產(chǎn)生了促進(jìn)作用。從戰(zhàn)略性新興產(chǎn)業(yè)的融資需求和私募股權(quán)投資基金的投資特點(diǎn)入手，依據(jù)資本結(jié)構(gòu)理論、產(chǎn)業(yè)生命周期理論，以戰(zhàn)略性新興產(chǎn)業(yè)載體企業(yè)為視角，闡述載體企業(yè)選擇私募股權(quán)為融資方式的合理性和風(fēng)險性。實(shí)證方面，選取戰(zhàn)略性新興產(chǎn)業(yè)各行業(yè)在創(chuàng)業(yè)板上市的各公司為樣本，分為有私募股權(quán)投資和無私募股權(quán)投資兩組，運(yùn)用兩獨(dú)立樣本非參數(shù)檢驗(yàn)方法比較兩組樣本在相同時間段內(nèi)的經(jīng)營業(yè)績指標(biāo)是否有顯著差異，以此來推斷有、無私募股權(quán)投資的戰(zhàn)略性新興產(chǎn)業(yè)總體的融資效果差異。檢驗(yàn)結(jié)果顯示，私募股權(quán)融資對戰(zhàn)略性新興產(chǎn)業(yè)載體企業(yè)經(jīng)營業(yè)績具有一定的提升作用，，為戰(zhàn)略性新興產(chǎn)業(yè)企業(yè)科學(xué)選擇融資方式提供了參考。
[Abstract]:After the global economic crisis, countries are looking for a new power for the next round of economic growth. In 2009, China proposed to cultivate and develop strategic emerging industries, select energy conservation and environmental protection, a new generation of information technology, biology. High-end equipment manufacturing, new energy, new materials and new energy automotive industries focus on the development of seven industries, and hope to seize this opportunity to seize the commanding height of scientific and technological development, adjust the industrial structure of our country. To realize the sustainable development of economy and society. After the development of recent years, the strategic emerging industries of our country are developing rapidly. Private equity financing, as a new financing method, has developed rapidly in recent years and has been active in strategic emerging industry carrier enterprises. This paper mainly studies whether the choice of private equity financing in strategic emerging industries promotes its operation and development, starting with the financing needs of strategic emerging industries and the investment characteristics of private equity investment funds. According to the theory of capital structure, the theory of industry life cycle, and from the perspective of strategic emerging industry carrier enterprises, this paper expounds the rationality and risk of the carrier enterprises choosing private equity as the financing mode. Selected strategic emerging industries in the gem listed companies as a sample, divided into private equity investment and no private equity investment two groups. Using two independent samples non-parametric test method to compare the two groups of samples in the same time period of operating performance indicators are significant differences, so as to infer that there are. The results show that private equity financing has a certain role in improving the performance of strategic emerging industry carrier enterprises. It provides a reference for strategic emerging industry enterprises to choose financing mode scientifically.
【學(xué)位授予單位】：華南理工大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F276.44;F832.4

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