The Impact of Venture Capital on GEM Companies’ Deviant Strategy

Author: Huihui Zhang

ABSTRACT
From the perspective of resource-based theory, agency theory and signal transmission theory, this paper examines the impact of venture capital on the deviant strategy of enterprises by studying the data of GEM listed companies from 2009 to 2016. The study finds that there is a smaller deviant strategy in companies supported by venture capital than not supported. Through the further analysis of venture capital, this paper finds that the impact of specific characteristics of venture capital on corporate deviant strategy is more significant: private and state-owned background characteristics of venture capital, compared with foreign investment background characteristics of venture capital, the companies supported by the former two own smaller deviant strategy; the enterprise supported by venture capital of alliance investment characteristics, phased investment characteristics, late entry into the enterprise characteristics owned smaller deviant strategy.

Source:

Journal: Open Journal of Accounting
DOI: 10.4236/ojacct.2018.71003 (PDF)
Paper Id: 81543 (metadata)

See also: Comments to Paper

About scirp

(SCIRP: http://www.scirp.org) is an academic publisher of open access journals. It also publishes academic books and conference proceedings. SCIRP currently has more than 200 open access journals in the areas of science, technology and medicine. Readers can download papers for free and enjoy reuse rights based on a Creative Commons license. Authors hold copyright with no restrictions. SCIRP calculates different metrics on article and journal level. Citations of published papers are shown based on Google Scholar and CrossRef. Most of our journals have been indexed by several world class databases. All papers are archived by PORTICO to guarantee their availability for centuries to come.
This entry was posted in OJAcct. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *