风险资本市场理论及其对我国中小型科技企业发展的启示

The Theory of Venture Capital and Its Implication on the Development of Medium-and-small-sized Technical Enterprises

中小型科技企业在融资、改制和可持续发展等方面面临多重困境是我国高科技产业发展中的突出问题。借鉴国外通过风险资本市场培育中小型科技企业的思路和有关理论 ,将有助于推动我国中小型科技企业的发展。风险资本市场应当成为我国中小型科技企业的首选融资渠道。今后一段时期内 ,应当努力完善风险资本市场的法规建设和制度框架建设 ,发展小盘股市场和场外交易体系 ,积极培育风险资本市场的多元化投资主体。

The prominent problem of China's hi-tech industry development is medium-sized and minitype tech-enterprise rarely got enough capital.The theory and practice abroad about cultivating medium-sized and minitype tech-enterprise by venture capital market are significative to China's technology industry development.In the area of medium-sized and minitype tech-enterprise's financing,venture capital market is most important.We should carry though the regulation construction,develop small stock market and curb exchange system,and cultivate multifarious investor of venture capital market.