The Impact of Venture Capital on Firms' Accounting Performance - Taking Chinese Listed Companies in SME Board as Examples

摘要

This paper analyzes the impact of venture capital on accounting performance of the firms, taking 66 Chinese listed companies in SME Board of Shenzhen Stock Exchange as examples. Although ANOVA and cross-section regression analysis show no significant differences of performance between venture capital backed firms and non venture capital backed firms, in a long term venture capital does show a positive impact in increasing firms’ accounting performance.