Research On Selection Method Of Venture Capital Project Considering The Behavior Of Investors

There are a lot of venture capital project selection problems in reality, the traditional method of venture capital projects selection is based on the maximization expected utility principle, assuming investors in the investment process is "perfectly rational", but, in reality, a large number of experiments show that people in the financial markets are influenced by a variety of behavioral factors during the financial activities decisions, such as feelings of deviation. Currently, researches on venture capital project selection method considering the behavior of investors is also very small, therefore, it is of great important theoretic and practical significance to study the venture capital project selection method considering the behavior of investors.The paper studies the venture capital project selection method considering the behavior of investors on the basis of the summary and analysis of domestic and foreign venture capital project selection methods and risk investment characteristics. The content of this study include the following three aspects:First, Venture capital project selection method considering an industry based on regret theory. Propose a method of considering investors' regret in a industry of venture capital project selection, and introduce the investor's behavior into the venture capital project selection method, and propose Venture capital project selection method considering an industry based on regret theory.Second, Venture capital project selection method considering a number of industries based on dynamic regret theory. Raise a method of considering investors' regret in industries of venture capital project selection, in reality, the venture capital projects may come from different industries, the state probability of the different industries are different, this paper proposes using dynamic regret theory to solve the problem of multiple industries, calculates regret equilibrium solutions of considering the behavior of investors in venture capital, then, get overall effect of venture capital projects after considering investors' regret, finally, make decision of venture capital projects.Third, Case study. In connection with the method of considering investors' regret in venture capital project selection proposed by the paper, respectively use the LX and YTE investment company as cases to study, and give the analysis process, and verify the feasibility of the method.Finally, the article also made a conclusion and outlook, and summarizes the contribution of this paper, and proposes the future research prospects.