Private Equity Investment and Mergers and Acquisitions: Empirical Research on Big Data Based on Small and Medium Enterprise Board and Growth Enterprise Market

Zaixin Ji, Xuedong Chen

2022

Abstract

It has become easy and common to introduce private equity investment when Chinese listed companies conduct mergers and acquisitions. Private equity investment can help listed companies better understand and apply mergers and acquisitions. This paper selects 387 M\&A transactions of all listed companies on China’s SME board and GEM in 2017-2021 as the big data samples for empirical research. This research uses the ordinal logistic regression model as the main analysis tool, using CITC analysis algorithm α The coefficient algorithm was used to test the reliability and validity of the measurement scale, and the joint significance test was used to verify the effect of each variable. The study found that when companies introduce private equity investment institutions as shareholders, they will have a positive response to the performance of mergers and acquisitions. At the same time, the increase in the shareholding ratio of private equity investment in mergers and acquisitions also has a positive response to the performance of mergers and acquisitions. When private equity accounts for a large proportion in the acquirer’s enterprises, the response of M\&A performance is positive, which will promote the improvement of the company’s excess return rate. When private equity investment is introduced into the acquirer company, the priority of payment methods is mixed payment, cash payment and stock payment.

Paper Citation

in Harvard Style

Ji Z. and Chen X. (2022). Private Equity Investment and Mergers and Acquisitions: Empirical Research on Big Data Based on Small and Medium Enterprise Board and Growth Enterprise Market. In Proceedings of the 1st International Conference on Public Management, Digital Economy and Internet Technology - Volume 1: ICPDI; ISBN 978-989-758-620-0, SciTePress, pages 485-490. DOI: 10.5220/0011742000003607

in Bibtex Style

@conference{icpdi22,
author={Zaixin Ji and Xuedong Chen},
title={Private Equity Investment and Mergers and Acquisitions: Empirical Research on Big Data Based on Small and Medium Enterprise Board and Growth Enterprise Market},
booktitle={Proceedings of the 1st International Conference on Public Management, Digital Economy and Internet Technology - Volume 1: ICPDI},
year={2022},
pages={485-490},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011742000003607},
isbn={978-989-758-620-0},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Conference on Public Management, Digital Economy and Internet Technology - Volume 1: ICPDI
TI - Private Equity Investment and Mergers and Acquisitions: Empirical Research on Big Data Based on Small and Medium Enterprise Board and Growth Enterprise Market
SN - 978-989-758-620-0
AU - Ji Z.
AU - Chen X.
PY - 2022
SP - 485
EP - 490
DO - 10.5220/0011742000003607
PB - SciTePress