我国私募股权投资对上市公司绩效的影响研究

LZUFE-KMS > 金融学院

作者	邱龙德
姓名汉语拼音	Qiu Longde
学号	2021000005070
培养单位	兰州财经大学
电话	17318771215
电子邮件	qiulongde00@163.com
入学年份	2021-9
学位类别	专业硕士
培养级别	硕士研究生
一级学科名称	金融
学科代码	0251
授予学位	金融硕士
第一导师姓名	丁汝俊
第一导师姓名汉语拼音	Ding Rujun
第一导师单位	兰州财经大学
第一导师职称	教授
题名	我国私募股权投资对上市公司绩效的影响研究
英文题名	Research on the impact of private equity investment on the performance of listed companies in China
关键词	私募股权投资上市公司绩效绩效影响
外文关键词	private equity investment ; performance of listed companies ; Performance impact
摘要	上市公司是我国经济体系的重要组成部分，当规模较大、经营稳健和核心竞争力较强的公司成功上市，可以使资金流向这些高质量的实体，使他们利用资金加速科研投入和产出，加强经营管理，同时也为社会资金提供了投资增值的渠道，实现资本增值，真正促进整体经济的良好循环。私募股权投资在上市公司的发展中发挥着重要作用，受到私募股权投资的上市公司，一部分可以在受到投资后的一段时期实现良好发展，经营绩效得到提升，然而有的上市公司的经营绩效则没有得到提升，这与私募股权投资机构特征、上市公司所处行业等因素有一定的关系。因此，针对私募股权投资是否能提升一些特定行业或产业的上市公司绩效的问题，还需具体进行研究。本文首先梳理了私募股权投资对上市公司绩效影响的文献，并且归纳了私募股权机构异质性对上市公司绩效影响的研究结论。其次，先从理论和概念出发，对私募股权投资和上市公司绩效进行相关概述，展开分析了私募股权投资如何影响上市公司的绩效，然后对我国的私募股权投资现状、上市公司现状以及投资现状进行了具体分析。再次，选取一定条件下我国数字经济核心产业的上市公司作为研究样本，运用因子分析法对所选样本进行综合的绩效评分，设计模型并选取多个变量进行实证分析，研究私募股权投资的参与以及私募股权投资特点对所选上市公司绩效的影响。最后，总结分析得出的研究结论，并根据结论提出相应的政策建议，对私募股权投资如何更好地促进上市公司绩效提升具有一定的理论意义和实际借鉴意义。
英文摘要	Listed companies are an important part of China's economic system, when the large-scale, stable operation and strong core competitiveness of the company is successfully listed, can make the capital flow to these high-quality entities, so that they can use the funds to accelerate the investment and output of scientific research, strengthen the operation and management, but also for the social funds to provide a channel for investment value-added, to achieve capital appreciation, and truly promote the overall economic good cycle. Private equity investment plays an important role in the development of listed companies, and some of the listed companies that receive private equity investment can achieve good development and improve their operating performance in a period of time after receiving investment, but the operating performance of some listed companies has not been improved, which has a certain relationship with the characteristics of private equity investment institutions, the industry in which the listed company is located, and other factors. Therefore, it is necessary to conduct specific research on whether private equity investment can improve the performance of listed companies in some specific industries or industries. This paper first reviews the literature on the impact of private equity investment on the performance of listed companies, and summarizes the research conclusions on the impact of private equity institutional heterogeneity on the performance of listed companies. Secondly, starting from the theory and concept, this paper provides an overview of private equity investment and the performance of listed companies, analyzes how private equity investment affects the performance of listed companies, and then makes a specific analysis of the current situation of private equity investment, the status quo of listed companies and the current situation of investment in China. Thirdly, the listed companies in the core industries of China's digital economy were selected as the research samples under certain conditions, and the factor analysis method was used to comprehensively score the performance of the selected samples, and the model was designed and multiple variables were selected for empirical analysis, so as to study the participation of private equity investment and the impact of private equity investment characteristics on the performance of the selected listed companies. Finally, this paper summarizes the research conclusions obtained from the analysis and puts forward corresponding policy suggestions based on the conclusions, which has certain theoretical and practical significance for how private equity investment can better promote the performance improvement of listed companies.
学位类型	硕士
答辩日期	2024-05-26
学位授予地点	甘肃省兰州市
语种	中文
论文总页数	65
参考文献总数	59
馆藏号	0005799
保密级别	公开
中图分类号	F83/612
文献类型	学位论文
条目标识符	http://ir.lzufe.edu.cn/handle/39EH0E1M/36610
专题	金融学院
推荐引用方式 GB/T 7714	邱龙德. 我国私募股权投资对上市公司绩效的影响研究[D]. 甘肃省兰州市. 兰州财经大学,2024.

条目包含的文件		下载所有文件
文件名称/大小	文献类型	版本类型	开放类型	使用许可
2021000005070.pdf（2658KB）	学位论文		开放获取	CC BY-NC-SA	浏览下载