The Analysis Of The Current Matter On The Venture Capital Investment In China And The Study On Its Countermeasure

The concept of venture capital has been expanded and admitted over the whole world since the first venture capital company was established in America in 1946. As a financial action mainly aimed at small high-tech enterprise, venture capital effectively fetch up the insufficiency of the tradition financial market, it can be helpful to the development of the small companies and the progressing of the innovation of the science and technology in all nations. With experience we can prove that venture capital is propitious to the increasing of society welfare, to the swelling of ability for the innovation of science and technology, and to the improvement of a nation's integrated power.In this thesis, we mainly analysis some matters that baffle the well development of the venture capital in China, and some corresponding countermeasures are suggested in the next part of this paper.In analyzing the matters and countermeasures we generally according to five parts as the outer conditions, the financing channel, the venture capital investment organization, the venture corporations, and the exiting approach.The first chapter—a brief introduction of venture capital investment. We recommend the origin and the characteristic of venture capital, and its developing status all over the world.The second chapter—the current matters of the venture capital in China. We orderly analyze the matters in five parts as the outer conditions, the financing channel, the venture capital investment organization, the venture corporations, and the exiting approach.In the part of outer conditions, we mainly analyze some aspects as follows, the concept warp about venture capital of the society, the orientation of our government, the maladjustment of the law and the institution, the morbidity of the capital market, the matter of the agency of the venture capital investment.The matters for the financing channel consist in the following status, the singleness of the capital source, the small amount and scale of the current venture capital investment organizations.The venture capital investment organizations per se may have matters as beingscarce for excellent venture capitalist, not standard in manipulation and risk in morality, not pay enough attention to the supervise about the venture corporations after investment.The matters in venture capital corporations is mainly about the scarcity for excellent entrepreneurs and the too small amount of venture capital corporations..The problems about the exiting channel for the venture capital is as follows, the single forms of the current capital market, inexistence of the second market or other forms market for the bargaining of the equity capital; Besides, the academia and the venture capital investment organizations both pay little attention to the not-EPO forms for the exiting of venture capital, which is carried out most in the reality.The third chapter—suggestion of countermeasure to promote the Venture Capital Investment in China. We discuss it in three aspects as the outer conditions, the venture capital investment organizations and the venture corporations.In the part of the outer conditions, we separately discuss some countermeasures, which is the responsibilities and the orientations of the government, the betterments of the law, and the cultivating of the agent organization. At last, we bring forward an imagination of the Chinese pattern for her venture capital movement.In the part of the venture capital organizations, we think that the interior configuration of the venture capital organizations must be consummated, the private venture capital organizations must be promoted, and the status of the governmental venture capital organizations must have a revolution. We especially put forward that we must facilitate the commercial bank to set up venture capital fund, and promote large enterprises to expand into venture capital actions.For venture corporations, we mainly discuss the renovating of their conceptions and the enhancing of their management configurations.