摘要
建立了风险投资者与创业者之间的契约关系理论模型,研究了政府补贴政策的影响机制.研究证明政府补贴在提高风险投资者期望收益的同时,也提高了创业者的期望收益,这一政策也使得更多的投资项目值得风险资本去投资.因此,政府补贴增加了创业企业对风险资本的需求,能够促进风险投资业的发展.
The contractual relationship between venture capitalists and entrepreneurs is modeled to investigate the influence mechanism of government subsidies on venture Capital. The study proves that government subsidies increase entrepreneur＇s expected pay-offs while increasing venture capitalistrs expected pay-offs and more start-up enterprises are worth investing under subsidies. Therefore we come to the conclusion that government subsidies could increase the demand for venture capital and promote the development of venture capital.
出处
《数学的实践与认识》
CSCD
北大核心
2008年第19期7-14,共8页
Mathematics in Practice and Theory
基金
河北省科技厅科学研究与发展计划项目(07457202D-2)
关键词
风险投资
政府补贴
契约关系
venture capital
government subsidies
contractual relationship
