Does private equity investment influence enterprise innovation strategy?

Wuchao Liang, Ying Wang and Li Hou

Finance Research Letters, 2023, vol. 58, issue PD

Abstract: This paper takes China's GEM IPOs from 2017 to 2022 as the research object to explore the relationship between private equity investment and enterprise innovation strategy. It is found that private equity investment can effectively promote enterprise innovation and has a more significant impact on substantive innovation; PE joint investment enhances the supportive role of enterprise innovation relative to separate investment; there is no significant difference between whether private equity investment has a state-owned background or not in promoting enterprise innovation.

Keywords: Private equity; GEM; Enterprise innovation strategy (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pd:s1544612323009650

DOI: 10.1016/j.frl.2023.104593

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