创业投资与风险企业资本结构安排

Venture Capital and the Capital Structure Arrangement in a Risky Enterprise

本文对创业投资的资本构成及其与风险企业资本结构安排的关系作了理论分析,提出为保证风险企业在初创时投资契约制定的完备性,应将创业投资资本构成的这种权益性考虑在内,从风险企业资本结构安排方面,特别是企业治理结构和财务结构两方面设立一系列制度措施,以保证风险企业能够得以良性发展。

It is put forward in this article that the structure of venture capital typical of right and interest should be under consideration so as to assure the perfect formulation of the investment contracts by a risky enterprise just at the beginning stage. Furthermore, to help a risky enterprise develop smoothly, it is necessary to adopt a series of institutional measures in the governance structure as well as the financial structure in that enterprise.