Study On Driving Factors Of Venture Capital Cluster

Venture capital as a new way of investment and financing is a kind of equity capital, and its main investment target is high-tech enterprises. Play a significant role in supporting of technological innovation, promoting the industrialization of high-tech achievements and economic development. Speed of high-tech industries relies heavily on the level of development of VC. Putting forward new demands about the development of high-tech industry as an innovative country proposing. VC developed fast with Siwei Chen the "Proposal One" in China in 1998. The development of domestic and foreign venture capital practice has proved that the distribution of VC is unbalanced. The cluster effect promotes a regional high-tech industries developing. A regional having great creativity and international competitiveness often has more active VC.This thesis analyzes driving factors of VC cluster with regression analysis model, the purpose is clear the core driving factors of VC, propose some policy recommendations on VC cluster. The main line is The Review of Study-Cluster Status-Driving Factors Model-Empirical Mechanism-Policy Recommendations. VC in China's eastern coastal areas developed better, while the central and western regions developed worse, study China's driving factors of VC cluster through constructing model of driving factors, put forward relevant proposals to low concentration region. Chapter 1 is introduction, describes the purpose, significance, domestic and international research reviews and research contents and methods, primarily defined the concept of venture capital, summarizes the status of venture capital Clusters; Chapter 2 describes VC cluster situation in domestic and foreign and developing trend, summarizes the characteristics of VC cluster, discusses the concentration levels of the number of VC investment the amount of investment in detail, and analyzes the trend of China's VC development; Chapter 3 investigates the driving factors of VC cluster and builds the theoretical model, sums up the driving factors of VC, proposes theoretical model of VC cluster developing, analyzes the mechanism of VC cluster driving factors, and builds theory model of VC cluster drivers factors. Chapter 4 conducts empirical research mainly about the model of the driving factors, through regression analysis, divides into three major cities and five major regional and regression analysis carried out four times, finally obtains the core driving factors, summarizes the empirical results. Chapter 5 studies promote cluster optimization strategy of VC development, analyzes the situation of VC weak cluster area, and raises VC cluster optimization strategy to China's VC developing from policy, technology, and intermediate and other aspects.The main innovation of this thesis are:First, build a driver factors index system of VC cluster, including basic conditions, the core factors, the aid factors; Second, propose a model framework of VC cluster developing, explain mechanism of driving factors for high-tech industry development; Third, establish a driving factors model of VC cluster with regression analysis, and an empirical analysis for our VC cluster.This thesis is the sub-subject study of the Ministry of Education, Humanities and Social Science Research Fund "The research on mechanism of venture capital clusters based on symbiosis theory " (Approval No:09JA790161).