Venture Capital Optimal Contract Design and Application based on Multi-Dimensional Screening Model
From the perspective of entrepreneurs,the article set up multi-dimensional screening model between venture capitalists and entrepreneurs,showed multidimensional adverse selection that venture capitalists may hiding level of value-adding inputs to induced,improved that venture capitalists equity proportion would be affected positively by value-adding inputs cost,fund and information rents;venture capitalists degree of value-adding implementation would be affected directly by venture capitalists efficiency,if efficiency be low,venture capitalists value-adding implementation degree would be distorted downward,and degree of distortion would be affected by the probability distribution of venture capitalists types,information rents.
value-adding adverse selection venture capitalist multi-dimensional screening
YAN Wen-jun GUO Ju-e CHAI Jian
School of Management Xian Jiaotong University,Xian 710049, China School of Business Shannxi Normal University,Xian 10062,China
国际会议
昆明、丽江
英文
535-539
2011-04-15(万方平台首次上网日期,不代表论文的发表时间)