The Effect of Venture Capitalist Monitoring on Firms’ Innovation:Evidence from China

摘要：

　　This paper analyzes the effect of venture capitalist monitoring on firms innovation.Based on 5382 firm-year observations of 492 listed firms during 2006-2016,we manually collect information on venture capital and empirically examine whether venture capitalist monitoring facilitates firms R&D intensity by the Heckman Selection Model.The results show that compared with entrepreneurial companies that are not monitored by venture capitalists,entrepreneurial companies monitored by venture capitalist are associated with higher R&D investment.That is to say,venture capitalist monitoring contributes to the improvement of firms innovation performance.

关键词： Venture capital Monitoring Innovation

作者: Shuang Zou Liwei Cheng

作者单位: Faculty of Management and Economics,Dalian University of Technology,Dalian,China,116024

会议类型: 国际会议

会议名称: The 10th (2018)International Conference on Financial Risk and Corporate Finance Management(第十届(2018)金融风险与公司金融国际研讨会)

会议地点: 大连

会议语种:英文

页码: 367-372

在线出版日期: 2018-07-06（万方平台首次上网日期，不代表论文的发表时间）