Research On The Incentive Compatibility Mechanism Of Government-led Industry Funds

The government-led industrial funds as a special model of investment funds has been widely established in China.This type of investment fund provides a vehicle for guiding the industrial upgrading and transformation of the underdeveloped regions.It benefits the realization of regional industrial integration.This paper mainly studies government-led industrial fund incentive compatibility question by case analysis method with A city new energy industry fund as an example.First of all,it combs domestic and foreign research literature,related concepts and theories of industrial fund and incentive compatibility,and then introduces case fund project case to analyze background of project;Then paper analyzes principal-agent relationship of case fund,difference of target income between parties of principal-agent interest and game situation,and puts forward key conditions of mechanism design,then analyzes incentive compatibility mechanism of case fund mechanism design.Finally,insufficient incentive mechanism in operation of fund is put forward and corresponding suggestions are given.Results show that case fund incentive mechanism has multiple incentive structure,strong constraint mechanism,adequate information disclosure,and policy is implementation of protection and technological innovation conditions,meeting incentive compatibility.But at the same time,there are some problems,such as lack of spiritual motivation,lack of attention to long-term benefits and so on,which need to be adjusted.