Analyze Impact of Private Equity Investment on the Growth of Small and Medium-Sized Enterprises by big Data Technology

After over 30 years of reform and opening up, China's total GDP and economic scale have leaped to the second place on a global scale, but its quality and industrial structure still need to be availably adjusted. The transformation and upgrading of industries need financial support, while the traditional financial system puts a too high premium on the financing of large enterprises and state-owned enterprises, and cannot availably address the development of China's small, medium-sized and micro enterprises as well as innovative economy. At this time, an increasing number of private equity companies are becoming investors in small and medium enterprises. Hence, in the context of the times, this paper attempts to explore the impact of private equity investment on the growth of SMEs, and establish multiple linear regression equations for empirical analysis with the data of all New Three Board enterprises listed from 2015 to 2018. The study reveals that no matter adding control variables or not, private equity investment exerts a significant positive impact on the growth rate of SMEs. Through heterogeneity analysis, it is found that the impact is not the same for different industries. This paper offers a new point of view for understanding the growth of SMEs and can be used as a reference for future policy formulation.