风险投资特征对企业创新绩效影响的再审视——一项meta分析

学术界对风险投资与企业创新绩效的关系一直存在诸多争议。本文运用Meta方法纳入51篇文献共133个效应值分析了风险投资对企业创新绩效的影响,结果发现：风险投资对企业创新绩效仅具有微弱的促进作用。各主要风险投资特征均在不同程度上促进企业的创新绩效,按作用效果由大到小依次为联合风险投资、风险投资期限、风险投资背景、风险投资声誉、风投持股比例。风险投资对企业创新绩效的影响呈现出情境差异,产业类型、产权属性、宏观环境以及创新绩效测量方式均对二者关系起到调节作用,但效果不尽相同。

The impact of venture capital characteristics on enterprise innovation performance-- a meta-analysis

There are many controversies about the relationship between venture capital and enterprise innovation performance. This paper used Meta-method to analyze the impact of venture capital on enterprise innovation performance by incorporating 133 effect values from 51 literatures, and the results showed that venture capital o0nly had a weak promoting effect on enterprise innovation performance. The main characteristics of venture capital all promote the innovation performance of enterprises to varying degrees. And the effects from large to small rank in the sequence of joint venture capital, venture capital expectation, venture capital background, venture capital reputation and risk shareholding ratio. The impact of venture capital on enterprise innovation performance presents situational differences. The industrial type, property right attribute, macro environment and innovation performance measurement method all play a regulating role in the relationship between them, but the effect is not the same.