Government Guide Fund’s Behavior Performance And Empirical Analysis

The government guide fund (GGF) is non-profit policy fund. It hasbeen nearly10years since it boomed. GGF plays an important role inexpansion of social capital and increase leverage fund. It can cover theinvestment shortage of small and medium enterprises, especially in earlystage and interim. GGF guides the industry orientation and promotes thedevelopment of industry. In the following decade, as part of GGFsgradually face the exit problems, an effective performance evaluationsystem of government guide fund is beneficial to summarize the effectsof GGF in the past time and next phase of the project. It existed marketfailure in the field of venture capital in the past decade. For example,most funds tent to invest the enterprises in the development stage andmaturity stage. The role of GGF is increasing important in terms of socialattribute. In the arms of GGF, the development of the local industryimproved, the tax was promoted indirectly and the employment rate wasincreased. To establish GGF performance evaluation system shouldconsider the perspective of public finance after statistics and survey. Wealso studied abroad GGF performance evalution and marked the key variables. At last, we try to establish GGF perfaomance evalution systemsuited for domestic situation. Moreover, we put the evalution system intopractice. By interviewing the GGF regulatory authorities and venturecapital institutions, the result of the GGF performance evalution is good.This paper provides a certain reference value for the other GGFs.