China Venture Capital Institutional Choice

The thesis explores to solve the main problems in venture capital industry of China by improving the system arrangement in order to bring into play the system predominance of venture capital industry in promoting the combination of capital and knowledge and in supporting high and new-technology industries. The thesis analyses the theories of venture capital working mechanism with qualitative and quantitative method in the historical and logistic point of view. It puts forward some assume about the system arrangement of venture capital industry in China according to practical situation of China and through using the successful experiences of Europe, Japan and America for reference. Firstly, it discusses the theory of venture capital. Secondly, it analyses the agent problem in details and brings forward some measures to reduce risk. Finally, it points out that the system arrangement should be established in the principle of marketability and government-macrocontrol. It provides some suggestions about system choosing from the following two sides. One is improving the government supporting system and the other is building the interior mechanism.