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在某种意义上,创业投资是整个国家经济制度发展到一定程度后的产物,只有通过必要的制度安排和法律保障,使资本、知识、人才等资源能够自由转换和流动,创业投资活动才能真正得到发展。因此,对于发展中国家来说,没有制度创新,高风险与高收益不可能对等,创业投资事业就不可能发展起来。 创业投资在我国属于起步阶段,在制度上需要创新的地方很多,如何建立创业投资主体机构、如何规范这些机构的运作、如何培育创业企业、怎样完善退出方式,都是制度创新所要考虑的问题。
In a sense, venture capital is the result of the development of the entire country’s economic system to a certain extent. Only through the necessary institutional arrangements and legal guarantees, such resources as capital, knowledge and human resources can be freely converted and flowed, can venture capital investment be truly realized Get development. Therefore, for developing countries, there is no institutional innovation, and high-risk and high-income can not be equalized. Venture capital investment can not be developed. Venture capital investment in our country belongs to the initial stage. There are many places where innovation is needed in the system. How to establish the main body of venture capital, how to standardize the operation of these institutions, how to cultivate start-ups, and how to improve the way of exit are all problems to be considered in institutional innovation.