文档介绍
ImpactofPrivateEquityInvestmentonOperationalPerformanceofChina鈥檚NewThirdBoardListedCompaniesWenjiaoBianQuantitativeFinance4/28/2016Background&Motivation鈥RapidgrowthinNewThirdBoard鈥NewThirdBoardbecomethemainMarket,attractingmuchattentionexitplatformforPEinvestment鈥NoempiricalstudyfocusingoncompaniesinNTB(NewThirdBoard)yet鈥ExaminewhethertheimpactinNTBisdifferentfromGEM(Growthenterprisemarket)鈥ProvidesomereferenceforinvestorsandregulatorsinNTBLiteratureReviewPEinvestment鈥檚impactoninvestees鈥operationalperformanceExpectedEffectsimpactIntuitiveexplanationLiteraturesChemmanuretScreeningPositiveChoosehigh-qualitytargetsal.(2011)Monitoringandvalue-HelpimprovemanagementHellmanandPuriaddingPositivestructure,integrateresources(2002)Bringpre-maturecompaniespublic,leadingworseYang,ChenandZhuGrandsta