集群视角下风险投资的运作路径与模式研究  

Study on the Operational Path and Mode of Venture Capital from the Perspective of Cluster

作　　者：刘莉君[1] 刘友金[2] 赵立华[2] 

机构地区：[1]中南大学商学院,湖南长沙410083 [2]湖南科技大学湖南省产业经济研究基地,湖南湘潭411201

出　　处：《湖南科技大学学报（社会科学版）》2007年第6期91-95,共5页Journal of Hunan University of Science and Technology(Social Science Edition)

基　　金：国家社会科学基金项目(05BJL066);国家自然科学基金项目(70372016);教育部"新世纪优秀人才支持计划"项目(NCET-04-0780);湖南省社会科学基金项目(04JD13)

摘　　要：畅通、高效的融资渠道，是产业集群发展的关键。对产业集群的风险投资，与只对单个企业的投资是有区别的。在产业集群的萌芽阶段，风险投资宜占35％～40％；产业集群的成长阶段，风险投资宜占60％～65％；产业集群成熟阶段，风险投资宜退出；产业集群更新阶段，风险投资重新进入或另辟新径。Expedite and efficient financing channels are the sticking points of the development of industrial cluster. The operational path of venture capital is discussed in the paper from a new perspective of the development of the industrial cluster. Based on the essential characters of venture capital and industrial cluster, the relationship between venture capital and the development of industrial cluster is analyzed in the paper. Then some effective operational paths and modes are founded out. The venture capital to the industrial cluster is only different in the capital of a venture capital enterprise. From the above analysis the conclusion includes some below points. The percent of venture capital should be 35% - 40% in the budding phases of the industrial cluster and 60% - 65% in the developing phases. While in the mature phase of it the percent of the venture capital should retreat. However, in the renovating phase the venture capital should be fmanced again or have another new mode.

关 键 词：产业集群 风险投资 路径 模式 

分 类 号：F830.59[经济管理—金融学]