技术与创新管理2024，Vol.45Issue(1)：41-48,8.DOI:10.14090/j.cnki.jscx.2024.0105
引入战略投资者对企业经营绩效的影响研究
The Influence of Introducing Strategic Investors on Business Performance
摘要
Abstract
The introduction of strategic investors can play a strategic synergistic role,make the optimal allocation of enterprise equity structure,improve the level of corporate governance,and is a good oppor-tunity for enterprise development.The purpose of the research is to explore the impact of the introduc-tion of strategic investors on the business performance of enterprises,enable the listed companies to im-prove the relevant mechanism of the introduction of strategic investors,and give play to the biggest ad-vantages of strategic investors,so as to achieve the goal of improving the business performance of enter-prises.Taking 235 listed companies in Shanghai and Shenzhen A-shares in China that introduced stra-tegic investors from 2000 to 2022 as the research sample,the return on net assets,capital accumulation rate,accounts receivable turnover rate and current ratio were taken as the explanatory variables,the shareholding ratio of strategic investors was used as the explanatory variables,and the company size and asset-liability ratio were used as control variables,and a statistical model was constructed to analyze the relationship between strategic investors and corporate operating performance.The empirical research re-sults show that the introduction of strategic investors can significantly improve the business performance of enterprises.In order to improve the business performance of strategic investors,combined with the empirical analysis results,the following countermeasures and suggestions are put forward:first,strategic investors should improve their own investment philosophy;second,enterprises should choose appropri-ate strategic investors;third,the state can improve relevant laws and regulations.关键词
战略投资者/持股/经营绩效/公司治理/经济后果Key words
strategic investors/shareholding/business performance/corporate governance/economic consequences分类
管理科学引用本文复制引用
吕靖烨,赵倩,BASHIR FARRUKH,许帅帅..引入战略投资者对企业经营绩效的影响研究[J].技术与创新管理,2024,45(1):41-48,8.基金项目
国家社会科学基金一般项目"我国'一带一路'能源投资政策绿色效果评价与改进策略研究"(20BJY076) （20BJY076）
陕西省哲学社会科学重大理论与现实问题研究一般项目"陕西省碳排放-经济增长-生态环境协同发展测度与对策研究"(2021ND0235) （2021ND0235）
