摘要
风险投资活动应通过合理的制度安排来降低代理风险带来的逆向选择和道德风险问题 ,具体包括采用有限合伙制、激励合同与保护性条款相结合的契约形式、以可转换债券为主的复合证券投资工具、多元化的风险资金退出渠道等。
It should debase moral hazard and prevent adverse selection which caused by the agent venture through the reasonable of the venture investment, such as limited partnership, bargain with inspirit contract and protected article, compound instruments of securities investment that mainly is convertible bonds, and multi quitting channel mechanism of venture capital, etc.
出处
《经济与管理》
2004年第12期79-80,共2页
Economy and Management
关键词
风险投资
企业
制度安排
venture capital
enterprise
arrangement of rule
mechanism
