Cooperative Problems Under Asymmetric Information

To promote technical innovation and commercialization of research findings turns to be the important tasks in the technological and economical development of each country. Many countries are sparing every effort to explore new roles that technique can play in economical development. And the cooperation of university-industry that can combine resources and capabilities of colleges, research institutions and industries is attracting more and more attentions. Since the mid and late of the twentieth century, developed countries, such as America, Germany and Japan, have adopted various measures to enhance the combination of university and industry and obtained good return. Among the successful examples, scientific and technological park of Stanford university and Silicon Valley are well known.The idea of university-industry cooperation had been proposed in our country in the fifties of last century, and corresponding laws, technological plans came out in the eighties. After the 21st century, the technological innovation system in which enterprises played the major role, education and research were combined were put forward in our country and it was hoped that our country could become one member of the innovative countries before 2020. Since the beginning of "university-industry developing project" in 1992, except for the achievement, there have been many other problems such as unused achievements and the disjoint of research and production. This paper has carried out deep study of university-industry cooperation in China, focusing on the question of "why the effects of university-industry cooperation are not very good in our country".The mechanisms of university-industry cooperation and reasons why the efficiency is not good are studied by means of summarizing, contrastive study, logical reasoning and statistical analysis. First, the related concepts of university-industry cooperation are defined and the corresponding theoretical basis is arranged. Meanwhile, the history of university-industry cooperation in China is summarized. Through the arrangement and summary of statistical data, the problems of university-industry cooperation in China are found:compared with developed countries, the degree of university-industry cooperation is lower; lots of sci-tech achievements are unused, disconnection exists commonly between scientific research and production, etc.. Then, the mechanisms and modes of university-industry cooperation are investigated. The modes of technological transaction, authorized research and development (R&D), cooperation R&D, co-establishing R&D center, co-establishing economical entities, etc. are discussed separately. Finally, the theoretical models are developed based on the classic principal-agent model and Cannikin Law, to discuss the adverse selection and moral hazard issues of University-Industry R&D Cooperation.