从创业投资主体关系看有效的公司治理结构

A review of the correlation of subjects of Venture Capital to the effective management system

投资者、创业投资家和创新企业家作为创业投资活动的主体 ,是其中最重要的人力资本。他们之间存在的委托代理关系会导致逆向选择和道德风险问题 ,从而阻碍创业投资的顺利进行。故设计合理有效的公司治理结构进行风险控制是极其必要的。

Investor, venture capitalist and entrepreneur, the three main subjects of venture capital, are the most important human capital in investing. The correlation between principal and agent easily lead to the problem of moral risk and retrograde choice, which hinder the success of venture capital. Thus, effective management system is essential.