企业家精神、“自我甄别”机制与资本市场发展

Entrepreneurship, Mechanism of Self-distinguishing and the Development of Capital Market

企业家精神的本质是一种敢于冒险的创业和创新精神。创业型企业家是通过自己创办企业即"自我甄别"机制来显示企业家才能的,这就得有一个能够与企业家精神高度相容的融资制度。企业家的生成是金融制度创新的结果。相对于偏好风险的创业以及创新活动的企业家精神而言,银行制度其实是一个非常保守的制度。与此相反,资本市场制度及其内在不断创新的架构机制最适合于企业家的创业活动。

The entrepreneur essentially has the creative spirit Entrepreneurs who set up their own business show their special talent by the mechanism of self-distinguishing, ie. such creative activity of high risk distinguishs themselves from other entrepreneurs. This requires a highly compatible financial system to meet the needs of these entrepreneurs. Banking system is too conservative to finance them. On the contrary, capital market has an inner mechanism of self-distinguishing which is most suitable for those entrepreneurs who run the risk of starting new business.