Author(s)

Jiong Huang

Corresponding Author

Jiong Huang

ABSTRACT

The results show that the investment cycle, the initial investment amount, the initial investment equity ratio and the industry in which the invested project is located have significant influence on the return on investment. At the same time, it is found that China's entrepreneurial enterprises have the characteristics of changing from increasing the input of traditional factors (labor and capital) to improving technical efficiency. It further deepens the research on the relationship between entrepreneurial performance and factor input of enterprises in emerging economic markets, and at the same time provides a reference for enterprises in the entrepreneurial period to allocate reasonable factor input. In areas with serious local protection, enterprises over-invest more, especially in state-owned enterprises. But invest less abroad, and this tendency of non-state-owned enterprises is more obvious. The foreign investment of state-owned enterprises helps to enhance the competitive advantage of enterprises, but the foreign investment of non-state-owned enterprises plays the opposite role. Protect the intellectual property rights of enterprises, broaden the financing channels for R&D activities, reasonably increase the R&D investment of enterprises, optimize the R&D personnel structure and improve the R&D efficiency of enterprises, so as to provide theoretical guidance for the R&D activities of enterprises listed on GEM.

KEYWORDS

Venture capital; Project return rate; Influence factor