The Research On The Venture Investment Catalyzed New Energy Industry

It is the most important task that the world is facing and the inevitable trend of global economic and social development in the future to control the world’s greenhouse gas emissions and to slow down the pace of global warming by the path of low-carbon development,. However, China’s economic and social development is faced with the reality of high carbon lock with energy structure being unreasonable, energy-used being inefficient, that force the adjustment of the energy structure and accelerate the development of new energy industry in China. And the new energy industry and risk investment has natural conjugate characteristics. In this context, this paper has a very important theoretical and practical significance to discuss the risk investment catalytic mechanism of new energy industry, to measure risk investment in new energy industry catalytic effect, to unearth the core of the existing problems in which the risk investment catalyze the new energy industry, and to put forward further risk investment catalyzing new energy industry suggestions.This paper is composed of five chapters. Firstly, the paper defined the meaning of new energy industry clearly through comprehensive risk investment and industrial relations research at home and abroad, put forward further the industry’s three major risk investment catalytic effect that "funding effect""corporate governance effect""industry related effect; and on this basis, combining with the special nature of the new energy industry, the article elaborated a mechanism of venture capital catalyzing the new energy industry. Secondly, the paper Summarized the three stylized facts include the development of China’s new energy industry, the risk investment catalyzed new energy industry related "funding effect" and "corporate governance effect". Thirdly, the paper had an empirical analysis of the catalytic effect as well as the relationship between the risk investment and new energy industry by taking the development of the wind power industry as an example for the new energy industry, using the VAR model with the data from the year of1995-2008; Finally, the paper put forward three recommendations to further promote venture capital catalyzing new energy industrial development based on the empirical results and risk investment catalytic new energy industry in the process of the typical fact, from the whole process of risk investment in, participation in management, exit new energy industry, that is, improving risk investment incoming new energy industry environment, optimizing the risk investment in new energy enterprise management, perfecting the venture capital exit mechanism of new energy industry.