The Exit Mechanism Of The China Venture Capital Research

Venture capital is playing a special important part in the morden economy. We can draw that conclusion from the development of American venture capital during the late 20 years in the process of venture capital; exit mechanics is of extremely importance. Observing the development of venture capital all over the world, we find that American venture capital is the most successful .One of the key reasons lies in the good exit mechanics, especially the Nasdaq market. It provides an efficient passage for the exit of American venture capital. This paper is based on the primary discussion on venture capital and its running mechanics, illustrating the key role of exit mechanics for the successful running of venture capital; elaborating the usual exit mechanics and their procedures and analysis the basis route and merit of exit mechanics in the present situation of china; also putting forward some suggestions on how to perfect the law system for exit mechanics in china. The innovational part of this paper is that adopt the way of positive study by collecting quantity of data, establish two models to compare the merits between the two ways of exit mechanics--JPO and Non-IPO and amend it on the basis of the method of compound guid, which was invented by kolo&Rosonberge.