Learning Process in Venture Capital and Underinvestment

摘要：

Investing is the process of learning about the situation of the R&D project,renewing the belief to the success probability of the R&D project.Due to the trust issue,the venture capitalist tends to be underinvestment.In order to alleviate this problem,a certain amount of shares should be allocated to entrepreneurs.This article analyzes the relationship between shares allocated to entrepreneur and the value of the firm.We conclude that proper shares will increase the value of the finn,however too much shares will decrease the value of the firm.

关键词： underinvestment incentive mechanism learning process

作者: Jun-Min Yang Bo Xu

作者单位: International Business School,Shanghai Institute of Foreign Trade,Shanghai,201600,China

会议类型: 国际会议

会议名称: 2008 International Conference on System Management(2008年系统管理学术研讨会)(2008 CSM)

会议地点: 上海

会议语种:英文

页码: 340-345

在线出版日期: 2008-05-30（万方平台首次上网日期，不代表论文的发表时间）