风险投资决策影响因素文献综述

Literature review on influencing factors of venture capital decision making

从外部环境因素和内部特征因素两个方面对国内外研究风险投资决策影响因素的文献进行了梳理与评价。在外部环境因素对风险投资决策的影响方面,已有文献主要从经济、法律、制度、文化和政策五个方面进行研究,国外学者侧重法律、制度、文化方面的研究,国内学者侧重政策研究。在内部特征因素对风险投资决策的影响方面,已有文献主要从风险投资机构的特征、风险投资家/管理者的个人特质以及创业者的个人特质三个方面进行研究,国外学者关注的因素涉及面较为广泛,而国内学者更多的关注中国特征因素的影响。

This paper reviews and evaluates the literature on the influencing factors of venture capital decision in China and abroad from two aspects： external environmental factors and internal characteristic factors. In terms of the impact of external environmental factors on venture capital decision-making,there have been documents mainly from the economic,legal,institutional,cultural and policy aspects of research,foreign scholars focus on the legal,institutional,cultural aspects of research,Domestic scholars focus on policy research. In terms of the influence of internal characteristic factors on venture capital decision,there are three aspects： the characteristics of venture capital institutions,the personal characteristics of venture capitalists/managers,and the personal characteristics of entrepreneurs. Foreign scholars pay more attention to the factors involved,while domestic scholars pay more attention to the influence of Chinese characteristic factors.