风险投资基金对企业治理结构的影响

Impact of Venture Capital on Corporate Governance

风险投资基金绝不仅仅只是从事投资的金融家。由风险投资基金积极参与风险企业的公司治理而产生的企业增值超过了其他股东,这种增值保证了风险企业持续稳定的增长,这又进一步促进了企业的增值。

For venture companies, venture capitalists not onlyprovide finance but pro-actively involve in corporategovernance. They have dual roles as creditor andsupervisor. This paper expands on how venture capitalistsplay a role in corporate governance through contractsupervision, use of financial instruments and otherauxiliary tools in an attempt to minimize potential risks ofinformation asymmetry and protect venture investment.