Research On The Driving Mechanism Of Trust Behavior On Venture Capitalist To Entrepreneur

With the arrival of the fourth wave of venture capital,the government increased the entrepreneurial support,and put forward a variety of entrepreneurial policies,which give entrepreneurial investors for new opportunities.As the main body of venture capital,venture capitalists(VC)are often limited by individual energy,knowledge,professional skills and so on.Therefore,it is necessary to select suitable entrepreneurs(E)to carry out various entrepreneurial activities.A large number of literature and practice research shows that the trust behavior of venture capitalists to entrepreneurs(VC-E)is the key to the investment decision making and management behavior after investment decision making.Thus,what are the driving factors of trust behavior of venture capitalist to entrepreneur,and how to drive VC to make investment decisions and what are kind of management behavior after investment decision making? In this paper,literature review and the two stage questionnaire were used to screen out the driving factors of venture capitalist to entrepreneur 's trust behavior,then the effectiveness of the driving factors were verified by ERPs neuroscience experiments,According to the experimental results,the relevant theoretical assumptions were put forward.And a theoretical model of trust behavior of VC-E was constructed.Then,the empirical analysis is carried out by structural equation modeling.The specific research contents are as follows:First of all,the concept of venture capitalists,entrepreneurs,trust behavior,driving factors,driving mechanism and venture capital management are defined.This part is mainly to analyze the related literatures and the contents of this paper,the definition of related concepts.At the same time,the paper analyze the testability of the trust behavior,the classification of the driving factors,the theory of the driving mechanism model,the monitoring management and the value-added service.Provide theoretical basis for the following.Secondly,based on the literature review of domestic and foreign research on trust driven factors and the use of questionnaire survey,this paper draws up the driving factors of trust behavior of VC-E.The effectiveness of the driving factors was verified by ERPs(Event-Related Potentials)neuroscience experiments.And the trust behavior driving factors was divided into individual characteristics,interpersonal trust and external environment.The model of driven factor system of venture capitalist to entrepreneur's trust behavior was constructed.Thirdly,the trust behavior of VC-E was divided into cognitive trust and affective trust,and the results show that the trust behavior of management behavior after investment decision making is the monitoring management and the value-added service,combined with the previous theoretical and empirical analysis of the results of ERPs put forward relevant assumptions,the theoretical model of trust behavior of venture capitalist to entrepreneur was constructed.Finally,through the empirical analysis of structural equation model,the original hypothesis is verified and the driving mechanism is clarified;According to the results of empirical analysis,the venture capitalists should pay attention to comprehensive study of driving factor.What's more,venture capitalists should be appropriate to monitor the management and improve value-added services.