|
|
|
| From the Property Rights Insufficiency to the Integrity Personal Property Rights: A New Angle of View to Venture Capital Institution Change |
| YIN Guo-Jun |
| |
|
|
|
|
Abstract The property rights institution arrangement has the nearly decisive influence to the efficiency of venture capital. Under the condition of serious not symmetry information and double trust-agent, the reasonable disposition of the property rights of venture capital is to give venture capital organization with full property rights which is relatively independent, to construct the venture capital organization accommodating the encouragement and the restraint, and to share the right for claim to surplus between the venture capitalist and venture investor. Meanwhile, we should design the domination right as the state-contingent control right changing along with the condition between the venture capitalist and venture enterpriser. But our country system environment causes the high efficient property rights arrangement could not be formed, The system characteristic of venture capital in our country is property rights insufficiency, and it forms the stagnate equilibrium of the system arrangeme
|
|
Received: 19 June 2008
|
|
Corresponding Authors:
YIN Guo-Jun
|
|
|
|
|
|
|
2008, Vol. 1 
浙公网安备 33011802000512号