创业企业控制权结构形成及其激励约束效应研究述评——基于风险投资模式

Review of Research on Formation and Incentive Constraint Effect of Control Rights Structure in Start-up Enterprise——Based on Venture Capital

本文从创业企业特征、创业企业家、风险投资家、合作关系与合作特征4个方面,分析了各因素在风险投资模式下对创业企业控制权结构形成的影响,研究了风险投资模式下创业企业控制权结构的激励约束效应,及其激励约束作用过程,指出了现有研究的不足之处。探讨了演化博弈应用于创业企业控制权结构形成与演变研究的适用性,最后从研究内容与研究方法两个维度对未来研究方向进行了展望。

This article reviewed recent year＇s research achievements at control rights structure formation in start-up enterprise under venture capital,from four aspects,which are characters of start-up enterprise,entrepreneur,venture capitalist,relationship and character of corporation,and analyzed the process and incentive constraint effect of control rights structure in venture capital based start-up enterprise,and then point out the inadequacy of existing research.Finally,the paper analyzed the applicability of evolutionary game in start-up enterprise control rights structure formation and evolution on the prospect for future research directions from content and methodology.