Study Of Venture Capitalists' Reward Mechanism Based On Human Capital

In the whole venture capital investment system, venture capitalists are the core principal part, the soul of venture capital investment. Human capital is a marked characteristic of the venture capitalists. As a result of the property rights of human capital, it is impossible for the enterprise contracts in the market to prescribe everything in advance; all the contents that can't be expressed clearly have to be reserved and will be regulated by the incentive mechanism. Only if incentive measure is carried out properly, human capital effect of venture capitalists can be performed sufficiently; it will be good for the cultivation and value realization of venture capitalists, and can promote the development of venture capital investment, so as to enhance the level of economic development. As regard to the development of venture capital investment in China, There still are many unsatisfactory areas. One of the reasons is that the incentive and restraint mechanism is unsound and unreasonable, so it seriously limits the performance of human capital value .With the deep development of a knowledge-based economy, China's venture capitalists will be required more and more. Human capital value of venture capitalists will become increasingly important. In the current circumstances, Personnel bottlenecks exist, we must cultivate venture capitalists as the commanding heights of China's venture investment. We should provide a full range of system support for venture capitalists to achieve their value. On the basis of the of human capital theory, we made the systemic and empirical studies. It not only can guide us to design compensation system of venture capitalists in reality reasonablely, improve the effect of incentive, but also help us know more about compensation situation of venture capitalists, and build a platform for further study.This paper is composed of six parts:In chapter 1, we mainly introduce background of the research and significance of this topic, and summarize the relevant documents at home and abroad. Based on previous research, we bring up our research method, basic framework and major innovation.In chapter 2, mainly from the perspective of human capital theory, we discuss theoretical basis of the reward incentiveWe systematically analyze the factors which are mainly meant to reward of venture capitalists in chapter 3In chapter 4, Using learning model, signal model, we make an empirical analysis of venture capitalists' reward.In chapter 5 we bring up some constructive comments about the design of mechanisms for China's venture capitalists.There is a summary of the conclusions in chapter 6, and we also propose some deficiency and direction of development.