风险资本分期投资的信号效应分析

The Signal Effect of Rounds of Venture Capital

在创业企业成长的过程中,除了风险资本的介入外,还需要其它权益资本和债权资本的支持,而它们往往也是风险资本实现收益退出的重要形式。为了赢得顾客、供应商、员工和其它合作者,创业企业面临利用有限的信息和信号机制表明企业质量的挑战。风险资本对创业企业投资表明了风险投资家对企业质量评估结果的一个重要信号。本文分析了风险资本分期投资的信号效应,对吸引创业企业内外部利益相关者具有重要的意义。

Venture capital backs the growth of startups, as well as equity capital and debt capital, which is the main ways of venture capital exit. Startups need to show their quality not only to cooperate with supplies, employees and so on, but also attract customers. Rounds of venture capital transferred to startups are important signal events. This paper discusses the signal effect of rounds of venture capital that have significant meaning for stakeholders.