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Institutional Analysis And Mechanism Innovation Of Venture Capital In China's High-tech Industry

Posted on:2009-07-13Degree:MasterType:Thesis
Country:ChinaCandidate:H TianFull Text:PDF
GTID:2189360242482598Subject:Western economics
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The venture capital investment is the professional personnel or specialized the organization just established toward those, growth quick, potential very big, risk also the very big business enterprise provided an ownership of a share margin and participated its management with expect succeed behind obtain the investment behavior of the business of high capital income, in fact the quality is the items which passed investment in a high risk, high repaid, will among them the successful item sell or appear on market, carrying out proprietor rights to become now, it can not only make up loss of failing the item, but also make the investor acquire high sum repay. The angle saw from the system economics, the risk investment is the innovation which threw a margin method to the tradition, saying for the development of high technique industry, it mainly has a few system functions as follows: First,grow function while ising the industry which invests to the high technique industry risk.The venture capital investment can provide a high technique business enterprise to need urgently of, but again hard long-term capital support for acquiring from the traditional margin outlet, and provide management technical ability, knowledge experience, market consultation...etc. to increase in value a service. Secondly, the risk dispersion function of high risk investment of the technique industry.The risk investment provided a high technique result to convert the mechanism that the risk acculturation in the process undertakes, promoting a financial stability thus.Third, the main factor of high risk investment of the technique industry integration function.The risk investment can integrate investment various main factor within process, producing integration effect, raising the production of[with] capital efficiency and funds usage and increasing in value. Is exactly the above system function which invests according to the risk, in flourishing and nationally risk the investment has already become one of high important margin method of the technique business enterprise.The United States since 1946 started carrying on the investment activity of the risk which systemized and systemized, high risk investment of the technique industry accelerated high and technical industry to turn application with commercial development progress, promote the growth of the newly arisen industry of the information, living creature, electronics...etc. and develop, and therefore changed mankind a society biggest of the production, life, amusement and society associate way.Get into 90's in 20 centuries especially, under the push of high risk investment of the technique industry, a great deal of electronic commerce mode usage obtained huge economic performance and unprecedented success.At these success example of back is an American perfect risk investment develop the mode be providing powerful support, such as the business enterprise organized form of limited partnership system, wait high-tech park area with Silicon Valley of close combine, the source diversification of the risk capital and government to the risk invests of support strongly etc., these developments which all invest business for high technique industry risk in the United States provided an emollient guarantee.The United States high technique industry the risk invest acquisition of the achievement make other nations also start to imitate in succession.Draw lessons from a flourishing nation Be developing the advanced experience of risk investment, raising the science and technology level of our country quickly has to develop a risk investment, and the government want to participate the development which invests with support risk actively, providing to loosen for the development that the risk invests with stable policy environment, support high-tech product's developing with all strength, provide necessary public finance support for the risk investment, also need to grow good and sound business environment and operate efficiently of market system.In addition, the development of risk investment needs the investment of high character and starts a business a talented person, also needing to have good social economic environment and flourishing financial market. Only so, then can build up an our country a perfect risk investment a development mode, push science and technology business to develop quickly.Therefore, the our country has to invest the movement mechanism of development in the risk up carry on innovation. First, the margin mechanism that the our country risk invests innovation, have to develop diversified margin outlet, start personal investment, insurance company, commercial bank, large business enterprise group etc. civil capital.To correct a government a role speed high system construction of the risk investment of the technique industry, construct good and social economic atmosphere, invest an industry development to protect to drive to escort for the risk. Secondly is our country risk to invest of withdraw mechanism innovation, build up two plank markets of our country, also want to make use of two plank markets in Hong Kong and overseas well, develop a new risk investment to withdraw an outlet.Is an our country risk to invest again of encourage mechanism innovation, pass the lawmaking establishment match our country limited partnership system business enterprise organized form of the state of the nation, also want to carry on an appropriate ownership of a share to encourage to high risk entrepreneur of the technique business enterprise. End, our country risk investment of society guarantee mechanism innovation, grow perfect risk investment service system;Improving the technique creates new surrounding, growing the risk investment of high quality a guest a body, building up sound revenue from tax law system of the risk investment;Establishment with perfect orientation risk investment industry and high and new technique industry develop of the talented person develop with the talented person encourage a mechanism;Strengthen high and new area construction in the technique park, construct for the creative type business enterprise good of existence and development environment.The risk which develops an our country invests business to have a certain push function towards speeding reformation the northeast old and industrial base also.It can resolve an old and industrial base technique a type a problem with difficult business enterprise margin, and will also take to the forerunner's management principle, apply of the technique, information and talented person etc. are sparse to lack a resources, promoting the business enterprise speed establishment and perfect and modern business enterprise system and modern business enterprise to manage structure, getting away from the tie of household management, making thus these business enterprises get away from the development"bottleneck" quickly.
Keywords/Search Tags:Institutional
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