同样是创业投资,在美国能够取得巨大成功,在我国效果就不甚理想。其基本原因就是承载这一资金融通过程的金融制度载体的先进程度不同,能否在体制层面上实现金融创新和组织创新,将成为解决高技术产业融资瓶颈的关键。我国在制度层面所存在的“金融抑制”,导致科技资本与金融资本 The same is the venture capital, in the United States can achieve great success, the effect in our country less than ideal. The basic reason for this is that the financial institutions that carry this process of financial intermediation have different degrees of advancedness. Whether or not financial innovation and organizational innovation can be realized at the institutional level will become the key to solving the bottleneck in the financing of high-tech industries. The “financial repression” that exists at the institutional level in our country leads to scientific and technological capital and financial capital