Research On Effects Of Venture Capital In Promoting Chinese Industrial Structure

In those venture capital developed countries like USA, the great promotion effects of venture capital have seen in their science and technology progress and industrial structure development. Since 2003, along with the recovery and worldwide pervasion of international venture capital, lots of venture capital swarm into China, where there are a lot of opportunities.Simultaneously, after 20 years of staggering, native venture capital in China has developed into quite a large scale. Especially, nongovernmental capital begins to set foot in venture capital. The atmosphere of venture capital is increasing. But venture capital in China is still in its growing phase in the main, there are many problems should be solved.The dissertation keeps closely with the theme of whether the development of venture capital in China has a promoting role in upgrading industrial structure. It is constitute of eight chapters, and in a whole divided into four main parts as follows:The first part is the theory foreshadowing of the whole dissertation, including Chapter 1 as the introduction, Chapter 2 as a review of the Literature, and Chapter 3 the development of domestic and foreign venture capital. In the first chapter introduces the research background and significance of this dissertation; The second chapter is literature review of venture capital and industrial structure of the relevant literature; And the third chapter introduces the status quo of domestic and foreign venture capital for the whole research background basis.The second part is a research on whether the development of venture capital in China has a promoting role in upgrading industrial structure, including the fourth and the fifth chapters. Chapterâ…£analysis the mechanism of venture capital in upgrading the industrial structure, which spilt into two parts; Chapterâ…¤is empirical analysis, providing support for the theory of fourth chapter. Test results shows that the venture capital plays a significant role in upgrading industrial structure in both high-tech industries and traditional industries. However, due to the relatively low proportion venture capital in China in the hi-tech industry, it's role in raising high-tech industries in the national economy proportion is not significant.Partâ…¢is the further study of the main effects, which venture capital performs in the promotion role of upgrading the industrial structure, including the sixth and seventh chapters. Chapterâ…¥specific analysis four specific effects which, in my view are most important: scale effect, technology spillover effect, aggregation effect of resource and industry cluster effect. Chapterâ…¦is empirical analysis, in addition to testing the effects except industrial clusters. The results show that there is an obvious scale effect, weak technology spillover effect; aggregation effect is significant only in the resource of technology, and no significance in capital and human resource.Chapterâ…§is Partâ…£, in accordance with articles and research findings in connection with reality, propose relevant policy recommendations to guide venture capital's promoting role in upgrading of the industrial structure, linking theory with reality, and also reflecting the value of this paper.