美国风险投资企业的治理机制创新对我国的启示  

The Enlightenment to China on Governance Mechanism Innovation in American Risk Investment Enterprises

作　　者：殷毅[1] 关龙[2] 

机构地区：[1]天津财经大学经济系,天津300222 [2]哈尔滨工业大学人文学院,黑龙江哈尔滨150001

出　　处：《商业研究》2005年第6期100-103,共4页Commercial Research

摘　　要：风险投资又称创业投资。风险投资是否成功最主要在于它的投资企业发展情况和退出渠道选择。风险资本进入创业企业的目的不是为了控制企业或取得企业的所有权 ,而是希望适时退出以便获取高额的投资回报 ,这种追逐利润的热情是风险投资发展的内在动力。美国的风险投资企业的治理机制创新对风险资本的退出的影响是巨大的 。Risk investment is also called undertaking investment. The decisive conditions of risk investment include the developing situation of these enterprises and the choices of withdrawal channel. The purpose of using risk capital in undertaking enterprises is not controlling the enterprises or obtaining the ownership of the enterprises, but hoping to withdraw the capital at proper time so as to gain high-profit;such passion of chasing profit is the inner force of the development of risk investment. The governance mechanism innovation in American risk investment enterprises plays an important role in the withdrawal of risk capital, and has vital enlightenment on the development of risk capital in China.

关 键 词：风险投资 退出渠道 治理机制 

分 类 号：F830.59[经济管理—金融学]