风险投资声誉、联合投资与成功退出

被引：14

作者：

叶小杰 ^{[1
]}

沈维涛 ^{[2
]}

机构：

[1] 上海国家会计学院

[2] 厦门大学管理学院

来源：

山西财经大学学报 | 2013年 / 35卷 / 12期

关键词：

风险投资声誉; 联合投资; 成功退出;

D O I：

10.13781/j.cnki.1007-9556.2013.12.011

中图分类号：

F832.48 [投资];

学科分类号：

120204 ;

摘要：

选取我国2002～2009年间5 780个风险投资机构的投资案例作为样本,检验了风险投资机构声誉、联合投资对其成功退出的影响,实证结果表明,2002～2009年间我国风险投资机构的成功退出率(即投资项目最终IPO的比率)为23.44%,风险投资机构的声誉越高,则其成功退出的可能性越大。进一步研究还发现,联合投资会降低风险投资机构声誉和成功退出关系的敏感性,这可能是因为联合投资的风险投资机构具有更多的机制来影响其投资绩效。

引用

页码：46 / 55

页数：10

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