Matching Research on the Governance Structure and Investment Pattern of State-owned Venture Capital:From the Perspective of Function Orientation and Behavior Characteristics
Bao Zhu, Chen Qiang
School of Economics& Management,Tongji University,Shanghai 200092,China
Abstract：The state-owned venture capital differs from the general social investors both in functional and profitable aims in the field of venture capital industry.Different governance structure of state-owned venture capital has different effects on investment behavior and capacity building.Based on the theory and literature analysis,this paper divides the investment mode of the state-owned venture capital into three categories:fixed return model,LP-GP indirect investment model and direct venture capital model.This paper constructs a matching model of governance structure and investment mode of state-owned venture capital.Using the questionnaire survey method,it conducts a comprehensive analysis on investment capacity of state-owned venture capital and makes an empirical research on the governance structure,investment mode and the realization of the aim of state-owned venture capital.On this basis,this paper puts forward some suggestions on the investment mode selection of the state-owned venture capital enterprises in terms of different governance structure
鲍 竹, 陈 强. 国资创投治理结构与投资模式匹配研究——基于功能定位和行为特征视角[J]. 中国科技论坛, 2017(10): 145-152.
Bao Zhu, Chen Qiang. Matching Research on the Governance Structure and Investment Pattern of State-owned Venture Capital:From the Perspective of Function Orientation and Behavior Characteristics. , 2017(10): 145-152.
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