The Research On Venture Capotal Market

Running with special regularity, venture capital market is a kind of institutional innovation arranged by capital market for developing high technology industry. The paper uses Marx抯 capital theory, insititutional economics theory and capital market theory of modern economics to analyze on the development, status and function, running mchanism, governance and insititutional arrangement of venture capital market from both theoretic and practical aspects. Besides, this paper also puts forward objective mode and developmental strategies of venture capital market in our country on the basis of the study on internal and external venture capital makets?development. The paper emphasizes that establishing the system of venture capital market is the course of establishing a mechanism and insititutioral arrangement that is suitable for valid capital arrangement rather than a simple course of raising money. Finally, the paper draws a conclusion that the key to establishing a effective venture capital market which is suitable for national conditions of China is a good internal and external structure environment ? and culture atmosphere. As to internal environment, the key is having a unobstructed capital channel, a group of talents and a healthy medium organization of venture capital. As to external environment, the key is having an effective withdraw market of venture capital and a government supporting venture capital positively.