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本文采用我国创业板IPO风险投资项目的数据,对影响其退出回报的因素进行了实证分析,证实了风险投资规模在一定程度上对回报率有影响,投资周期与年回报率显著负相关,而平均市盈率、投资行业与年回报率显著正相关。最后结合实证结果和实际情况,为我国风险投资业的健康发展提出了一些建议和对策。
This paper uses the data of GEM Venture Capital Project in our country to make an empirical analysis of the factors that affect its exit return, confirming that the scale of venture capital has a certain impact on the rate of return, and the investment cycle has a significant negative correlation with the annual rate of return. However, The average price-earnings ratio, investment industry and the annual rate of return was significantly positively correlated. Finally, combining with the empirical results and the actual situation, this paper puts forward some suggestions and countermeasures for the healthy development of venture capital in our country.