The Incentive Mechanism Optimization Of State-owned Venture Capital Firms' Investment Manager

As an non traditional capital financing model,the venture capital made a great impact on the Chinese economy since the 1980s',which is also called “incubator” of the high-tech industry”.The state-owned venture capital firms accounted for half of the country benefiting from the state owned capital.Meanwhile,the investment managers are the most important human resource in the state-owned venture capital firms,they investigate the venture companies,make investment plan and carry out the plan,So the performance of the venture capital firms is determined by the performance of the investment managers.Recently,lots of private&foreign investors have entered into this field and compete with the state-owned venture capital firms.Due to the market incentives for the competition and the inherent drawbacks,the state-owned venture capital firms have many problems in the investment managers' incentive mechanism.So as to keep a good investment team,this thesis aiming at optimizing the state-owned venture capital firms and providing reference to promote the venture capital firms incentives.At first,this thesis summarizes the characteristics of state owned venture capital company,besides,it analyzes the status quo and problems of state-owned venture capital incentive mechanism,and the reasons of the problem in detail.we infer the demand elements of incentive through survey,then,under the basis of the principles which the incentive mechanism should follow,this thesis build a relatively rational set of incentive mechanism on the original investment managers of the state-owned venture capital firms,which improves the aspects at the incentives of salary?reputation ? career planning and negative.Finally,based on the above analysis combined with actual situation of Jiangxi High-tech Investment Co.,Ltd,this thesis put forward the relevant suggestions for the investment manager's incentive mechanism.