科技创业企业在进行外源融资时,投资者和创业者之间的现金流量权分配是这类企业产权结构的一项主要内容。这类企业现金流量很小,创业者的工资收入往往很低,他们的收入主要采用股份的形式。因此,现金流量权的相机分配是投资者激励作为经营管理者的创业者积极性的一个重要手段。 When technology-based start-ups run external financing, the allocation of cash flow rights between investors and entrepreneurs is a major part of the property rights structure of such enterprises. The cash flow of such enterprises is very small, entrepreneurs often have low wage income, and their income is mainly in the form of shares. Therefore, the camera distribution of cash flow rights is an important means of investor incentives as an entrepreneurial entrepreneurial initiative.