高技术风险投资契约理论研究述评

A Survey of Venture Capital Contracting Theory

风险投资的出现有力地推动了高科技成果的转化 ,但我国对这方面的相关研究尚停留在宏观层面 ,本文在参阅了西方有关文献后 ,力图对西方风险投资契约安排的微观理论进行初步的系统评述 ,并在此基础上对国内的风险投资契约机制的有效建立提出了一些建议。

The emergence of venture capital has promoted the transformation process of high technology, but the relevant studies on venture capital only remain at the macro level in China.The paper conducts a detailed survey on actual contracts among investor, venture capitalist and entrepreneurs after reading the papers of foreign researchers. On the basis of that,the paper puts forwards some advice on the establisment of ventare capital mechanism in china.