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面对当前中小企业融资难的困境,多渠道地为中小企业提供资金已成为共识。作为权益资本的风险投资可以有效地帮助具有成长性的中小企业度过资金难关,破解中小企业融资难的问题。本文以现代企业理论为视角,从交易成本理论、产权理论、信息不对称理论三个方面分析风险投资的运行机制,这有助于我们更深入了解风险投资以及什么样的制度安排能够提高风险投资的运行效率。
The face of the current difficulties in SME financing difficult, multi-channel financing for SMEs has become a consensus. Venture capital as equity capital can effectively help small and medium-sized SMEs with growth to weather financial difficulties and solve the problem of financing difficulties for SMEs. From the perspective of modern enterprise theory, this paper analyzes the operating mechanism of venture capital from three aspects: transaction cost theory, property rights theory and information asymmetry theory, which helps us to understand more about venture capital investment and what kind of institutional arrangements can enhance venture capital The operating efficiency.