Corporate Venture Capital Disclosure Of Information To Solve The Plight Of Its Venture Capital Market Efficiency Improvements

Corporate Venturing,refers to the direct venture investment in private companies made by non-financial corporations with specific core business.Along with rapid growth of Chinese economy,domestic venture capital has gone through a fantastic development among which Corporate Venturing is an outstanding one.The study on the different types of venture captital,especially Corporate Venturing,is required by the establishment and improvement of the mutiple-level capital market in China.Only on the basis of an throughly understanding of the traits,advantages and disadvantages of Corporate Venturing,can we set a better platform for its further development,contributing to the promotion of the entire venture capital market.This thesis is focused on the solution to dilemma of information relevation in Corporate Venturing and the improvement of efficiency Corporate Venturing brings to venture investment market.After a review of existing research of Corporate Venturing, the thesis begins with a simple model of the dicision making process of conventional venture capital.It is followed by the argument of feasibility of Corporate Venturing in the consideration of dilemma of information relevation,which is carried out within the framework of game theory by single-period,two-reriod and multi-reriod model. Then the thesis is trying to argue the improvement of effience Corporate Venturing brings to venture investment market in both theoretic and empirical way.At last,the author analyses the problems encounted in the research and comes up with policy proposals.