我国创业投资阶段分布不均衡性的形成机理及其影响

A Research on the Reason and Influence of Chinese Pockety Distributing of Venture Capital on Investment Stages

通过对1994年以来我国创业投资阶段分布不均衡性的实证分析,引入期望吻合度函数来解释该现象的形成机理,指出创业投资阶段分布不均衡性将容易弱化创业投资孵化高技术产业的产业培育功能、加剧与传统投资方式的不公平竞争、催生或助长经济泡沫和泡沫经济的形成。

On the basis of empirical analysis of Chinese pockety distributing of venture capital on investment stages since 1994, this article uses expectation inosculation function to explain the reason of that, and figures out that this phenomenon not merely easily lead to weakening the fostering function of the high-tech industry by venture capital, aggravating the unfair competition with the traditional way of investment, but also encouraging the emergence of economic foam and the bubble economy.