中美风险投资的风险差异

Risks Differentiation between Sino-U.S. Venture Investments

通过从机会风险和融资模式风方面比较了中美风险投资的风险差异,从风险投资赖以生存的基本经济环境上看,美国风险投资只承受技术风险;而我国风险投资则承受全面、系统、多样化的风险。从风险投资的融资模式上看,美国风险投资在输出资本利用风险、回辙资本驾驭风险方面呈现出独立、自主、主动、可控的特点;相反,我国的风险投资则呈现整体连带、消极、被动、难控制的特点。

The paper makes a compare in opportunity risk and finance model risk between China and America, finding that the venture investment in China will face more systematic and varied risks, but in America the risk only can be found in technology. It also brings characters of independence, positive and controllable for the input and retrial of venture capital in U.S., while having totally adverse feature in China.