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目前我国关于风险投资的讨论主要集中在风险投资基金的筹集和退出机制等方面,忽视了风险投资基金的相机治理对企业发展所起到的关键作用。事实上,风险投资不同于一般金融机构融资的特点就在于它是一种干预性融资,风险资本家以其丰富的专业学识和经验监督创业企业的经营管理以获取长远的回报。本文将要研究的是风险资本家最强有力的监控机制——分期投资。
At present, the discussion about venture capital in our country mainly focuses on the fund raising and withdrawing mechanism of venture capital fund and neglects the key role of the camera governance of venture capital fund in the development of the enterprise. In fact, the characteristic of venture capital different from that of general financial institutions is that it is an intervention financing. With its rich professional knowledge and experience, venture capitalists oversee the operation and management of start-up enterprises in order to obtain long-term returns. This article will examine the most powerful monitoring mechanism of venture capitalists - installment investment.