摘要
美国创业资本市场是世界上规模最大、发展最完善的市场,并呈现机构化、专业化的组织特征,投资领域集中于高科技企业,投资区域集中于硅谷等区域创新地区,在退出渠道上以IPO为主。创业资本为美国高科技企业的成长与发展提供了必要的资金和管理支持,既促进了美国高新技术行业的发展,创造了更多的就业机会,也促进了产业集群和区域经济的发展。但创业资本追求利润的本质特征会造成一定的投机性,产生经济泡沫。
The US is the largest venture capital market in the world in terms of size and development level, which is reflected in its high level of professionalism and great involvement of institutions. The capital, highly focused in hi- tech sector and based in innovation-led areas like Silicon Valley, exits mainly through initial public offerings. Venture capital provides the fund and management support essential to the growth and development of American hi-tech industry. Beyond that, it creates more job opportunities, industrial concentration and facilitates regional economy. Profit-driven, however, it may leads to speculation and economic bubbles.
出处
《证券市场导报》
北大核心
2005年第3期18-23,共6页
Securities Market Herald
