The Empirical Research On The Supporting Function Of The Scientific And Technological Environment To The Venture Capital

Though the history of the venture capital is brief, the topic which concerns the environment of the venture capital or relavant research, either in academic or in industry, is heated for a long time. Based on the research on the rule of the US venture capital(VC) development and scientific and technological environment (STE) development, it is self-evident that the STE is one of the most important factor affected the development of the VC. After we master the rule of the STE development, it is possible to construct an efficient and dynamic STE, fit for the development of VC.Based on both the survey to the chinese VC industry and relavant research materials and theory, the article give a systematic research on the mechanism of the supporting function of the STE to the VC in academic and empirial view. To sum up, the main conclusions of the article are following:1,From the Resources-based view and the Process-based view, the paper analyzes the mechanim of the influence of the STE to VC. The STE influences the VC in two ways: though the research and development system (RDS), or though the technology trades market (TTM). The prosperity of the TTM is based on the perfect and full development of the RDS. Due to the development of information technology, source of the high-tech which has the latent to be industrialized is various, will not be constrained in the TTM. In addition, the regional TTM will be more specialized, and the trend will be enforced in the next future. So the influence of the TTM is diverting from the direct influence to the indirect influence. While the influences of the RDS are determined, and include two aspects: direct influence means gestating the high-tech, to provide the"Blood"to the VC; indirect influence means making the TTM more prosperity, to induce the development of the VC.2,Based on the system theory, the paper gives an analysis on the structure of the STE. According to the supporting principal, the paper divides the STE into two categories: the cultivating STE (CSTE) and the spontaneous STE (SSTE). As...