The Research On Venture Capital Investment Stage Moving Back And Its Preventing And Controlling Mechanism

Venture capital is always the main financing form of the rising companies especially the high-tech enterprises in their early development. Adversely,we find that the stage of main venture capital investment moves back in the growing process of venture capital investment in 1980s from the research. Although this moving back can reduce risk of the investment,there would be no obvious difference compared to the other finance investment and it would cause serious negative influence. It would go against the development of high-tech industry and market economy. From the very first beginning,there was the problem of the stage moving back in China. The venture capital which is truly invested in the seed and start-up stage is little,conversely,the amount in later purchase,packing,initial public offerings is very large. This certainly will have an influence on the development of the entire industry. This paper starts on the moving back of the stage in venture capital investment. With the breakthrough point of game theory,we discuss the reasons of the stage of venture capital investment moving back,and analyze the stage moving back with empirical method particularly in China. On such basis, Building a preventing and controlling mechanism which can be used to analyze the situation and reasons of the waving,provide the countermeasure,identify and prevent the happening,reveal the security and success mechanism.This paper is composed of six parts. The first chapter expatiates on research background,signification,and does conclusion,summary and comments about the relative domestic and foreign literatures on venture capital. Besides this,the paper also point out the method which is used in the research,basic frame and main innovation in the article. The second chapter is about the situation and effect of venture capital investment which happened in the main countries in1980s on basis of data and documents. The third chapter is using the game theory model to ratiocinate and demonstrate the reason of venture capital investment moving back. In the fourth chapter,we do the empirical analysis of venture capital investment stage moving back in China. Those are about situation,game theory analysis on reason of venture capital investment stage moving back in China. The fifth chapter is talking about the design of the preventing and controlling mechanism. we set up a circulating mechanism including preventing and controlling information system,analyzing and evaluating system,diagnosing system,preventing and controlling measures. The sixth chapter does the conclusion and points out the deficiency and the developing direction in the future.