Research On The Venture Capitalists' Competency Fostering

Based on the analysis of venture capitalists' competency, the main-line of this paper can be demonstrated as follows: structure of venture capitalists' competency—appraisal of venture capitalists' competency—mechanism for developing the competency of venture capitalists'—the incentive and constraint mechanism for developing the competency of venture capitalists'. The dissertation mostly includes seven parts as follows:1. Based on summing up existing researches, the phrase "venture capital" is defined; the characteristics of investors, venture capital firms and entrepreneurships are analyzed. And the significant role played by the venture capitalists in the process of venture capital is emphasized.2. Grounded on the existing research on the managers' competency and the role of venture capitalist, the competency of venture capitalist is defined; Based on the theory of the individual integrated competency, the competency model is designed and an empirical study is taken up with Factor Analysis. On the basis of synergic nature among the competency components, each dimension of competency is appraised; grounded on the synergic nature between the competency dimension and the environment, the comprehensive competency is appraised.3. Based on the individual learn theory, the venture capitalists' learning process and the competency development mechanism are analyzed. The mechanisms of the venture capitalists' internal learn, external learn, and self-directed learn are analyzed in details. The main approaches to develop the venture capitalists' competency in China are investigated. The model of venture capitalists' learning bar is set up.4. The incentive and restrained mechanisms to foster the venture capitalists' competency are compared in the partnership, company and trusteeship. Having reviewed the history of venture capital organization in China, the dissertation gives some proposals to reform the current venture capital organization.5. Based on the Signaling theory, the market-oriented selection model is established. The incentive and restraint effects from the market competition on the development of venture capitalism's competency are analyzed. Then the dissertation provides that government should change its original orientation and develope the professional venture capitalist market to foster the venture capitalists' competency by the market signaling and the competition mechanism.6. Grounded on the knowledge nature, the functional mechanism of organization culture to train the venture capitalists' competency is analyzed. On the analysis of features of venture capital organization culture, the approaches to establish the venture capital organization culture are provided, and the incentive and restraint effects from organization culture on the development of venture capitalism's competency are analyzed.7. On the analysis of the current situation of the venture capitalists' competency training in China, the fundamental framework to develop the venture capitalists' competency is put forward, which consists of the competition-oriented selection system, the profit distribution system, the competency appraisal and feedback system, the cultural institution system, the supervision and restraint system, as well as the education and training system.