The Study Of Risk Measurement Of Project Funded By Venture Capital

Along with the approach of the knowledge economy, how to resolve the hatching of high-tech business enterprise becomes an important problem. Venture capital as an advanced financial tool has nature quality to solving the problem. Our country leads into venture capital mechanism in 1989, since then the venture capital develops very quickly. It plays a very important role in the industrialized of high-tech enterprise. At the same time, there are many problems about venture capital in our country. Especially, in the field of risk measurement, it has still no perfect operation process about risk measurement. Based on the environments, this paper studies risk measurement of project founded by the venture capital. At first, this paper studies and compares the result about risk measurement, which has done by experts in foreign country and our country. Then, according to characteristics of our country, this paper adopts the method of the strategy analysis to put forward the system of the risk indexes in three-rated. Furthermore, it makes a model about project risk processing founded by venture capital. In the model, it divides the risk indexes into initial risk indexes and un-initial risk indexes. According to the same standard, the risk process is divided into initial risk process and un-initial risk process. It also gives deeply study on the risk process. As well known,the project funded by venture capital should have four different stages. The paper makes the deep study in the influence of the risk index on the project in four stages. It researches accordingly the influence curve of every risk index. While the risk measurement tool variance is also improved by the paper. It substitutes the exception with the lowest subjective exception and put forward the conception of deviation. Then paper construct risk measure system with risk cost and risk profit. At last, through the study on risk distribution function, this paper measures the risk of project funded by venture capital. At same time it discusses the subjective influence on risk measurement and gives the subjective modification coefficient of risk. Through the above study, the paper hold the view that initial risk index and risk process should be the most important thing in the risk measurement and management. Certainly, the risk measurement should be based on the deviation and done from the risk cost and risk profit from the systemically view.