Government Background Venture Capital Corporate Governance Research

This thesis discussed a governance structure for the special institute by which is named "the governance structure of venture capital companies invested by government". The paper analyzed the Serious Principal-Agent Problems between venture capitalist and venture investor, and then referred to the running way of Venture Capital Company. According to the analysis before, the author tried to design a proper governance structure on which focused the share in claim to residue between intellectual capital and tangible assets. Although it is a powerful institute that the governance structure of venture capital companies invested by government in China venture capital market. Its management ability is poor and idea of development is also in the chaos. So we should construct a micro-structure for improving the management ability and clearing the idea of development of this kind of institute. For the reason, the author chooses this problem.The paper made a core, that the venture capitalist is the basic for the governance structure in discussing. The whole content in the paper is focused on how to distribute residual control based on the reasonable distribution of the claim to residue between venture capitalist and venture investor. This paper takes apart in eight parts. The first part referred to the elementary knowledge and the introduction to the instruction of the paper after. The following main parts are separated into seven self-governed parts. In the first part, the author introduced the development of the venture capital in China and the shortage of corporate governance in venture capital companies invested by government. The author took a frame of corporate governance from the third part to the end. The third part deduced a frame that was concerned to the logical structure of the corporate governance for the following analysis. The fourth part was concerned to the mechanism to prompting and restricting problem. It was said that the reasonable distribution to the claim toresidue, and then go shares the Residual control between the venture capitalist and...