基于报酬机制失效下的创业投资企业声誉机制分析

Analysis on the Reputation Mechanism of Venture Capital Firms under Invalid Reward Mechanism

创业投资的报酬分配机制并不是一种有效的激励机制,因为它未能使投资者的效用达到最大化,为了弥补报酬激励合同的不完备性,通过构建声誉模型,分析了声誉机制对创业投资企业的激励作用,并对我国构建创业投资企业声誉机制提出了政策建议。

The reward assignment mechanism of venture capital isn＇t an effective incentive one because it has not been able to enable investor＇s benefits to achieve the maximization. In order to make up the incompleteness of reward mechanism, it analyzes the incentive functions of the reputation mechanism through constructing reputation models ,and puts forward the policy proposals for the establishment of reputation mechanism in our venture capital firm.