欧洲非正式风险投资的公共支持政策及其启示  

Public Support Policy for the Informal Venture Capital in Europe and its Implications

作　　者：宋智文[1] 凌江怀[2] 

机构地区：[1]佛山科学技术学院经济管理学院,广东佛山528000 [2]华南师范大学经济管理学院,广东广州510630

出　　处：《佛山科学技术学院学报（社会科学版）》2012年第3期22-26,共5页Journal of Foshan University(Social Science Edition)

基　　金：广东省软科学重大项目(2011B080701059);广东省软科学重点项目(2011A070200010);佛山市哲学社会科学重点项目(11-J5)

摘　　要：非正式风险投资是对创业企业的早期阶段进行投资的非中介风险投资,对创业和创新有重要的促进作用。欧洲国家创业投资公共政策经历了由最初的贷款担保支持转向提供风险投资、再到重点支持非正式风险资本市场发展的演变路径。欧洲非正式风险投资公共支持政策主要包括税收激励、建立天使投资网络、完善证券立法、投资准备计划、投资者培训、合作投资计划等六种方式。这些公共支持政策对我国具有有益的启示,应借鉴欧洲国家的经验,大力发展有中国特色的非正式风险资本市场。Informal Venture Capital is a non-intermediary venture capital to invest in the early stage of initiative enterprises, which has an important role in promoting entrepreneurship and innovation. Public policy for venture investment in Europe has experienced the evolution pathway that the initial focus of support was on enhancing the availability of loan finance through guarantee, then the focus shifted to the provision of venture capital, and then the focus turned to support the informal venture capital market. Public policy support for informal venture investment in Europe include six ways which are tax incentives, business angel networks, securities legislation, investment readiness, investor education and coinvestment schemes. These public support policies are beneficial enlightenment to our country. We should draw lessons from the experience of European countries, and vigorously develop informal venture capital market in China.

关 键 词：非正式风险投资 公共支持 政策 

分 类 号：F835.048[经济管理—金融学]