产业组织特性对创业企业组合策略的影响研究金融学专业论文.docxVIP

III III Ⅵ Ⅵ ABSTRACT portfolio size of venture capital organizations in mainland China is bigger but the entrepreneur`s shares is much smaller. Finally, additional tests indicate that the probability of constructing venture firms portfolio from industrial organization perspective is higher when the venture capital organization obtains government assistance, and the probability of investing seed projects is higher when venture capitalists construct its venture firms portfolio from industrial organization perspective. All these findings above indicate that government potentially promotes the venture capital organizations to invest more firms, especially the seed projects, which fits in with the leading national strategy: Independent Innovation Strategy. Keywords: Venture capital，Venture Firms Portfolio，Industrial Organization Theory，Portfolio Theory 目 录 目 录 HYPERLINK \l _bookmark0 第一章 引言 1 HYPERLINK \l _bookmark1 1.1 研究背景 1 HYPERLINK \l _bookmark2 1.2 研究目的与意义 3 HYPERLINK \l _bookmark3 1.3 研究创新点 4 HYPERLINK \l _bookmark4 1.4 研究内容、框架与技术路线 4 HYPERLINK \l _bookmark5 第二章 文献回顾与假设提出 6 HYPERLINK \l _bookmark6 2.1 独立风险投资：概念与内涵 6 HYPERLINK \l _bookmark7 2.2 产业组织理论主要流派简述 8 HYPERLINK \l _bookmark8 2.3 产业组织理论与风险投资领域结合的研究进展11 HYPERLINK \l _bookmark9 2.3.1 产业组织理论与风险投资行业的结合 12 HYPERLINK \l _bookmark10 2.3.2 产业组织理论与创业企业（所处）行业的结合 15 HYPERLINK \l _bookmark11 专利竞赛理论 15 HYPERLINK \l _bookmark12 传统的标准实物期权技术 16 HYPERLINK \l _bookmark13 战略实物期权理论 17 HYPERLINK \l _bookmark14 2.4 创业企业组合规模 19 HYPERLINK \l _bookmark15 2.5 假设提出 20 HYPERLINK \l _bookmark16 第三章 实证研究 23 HYPERLINK \l _bookmark17 3.1 数据来源 23 HYPERLINK \l _bookmark18 3.2 变量定义 24 HYPERLINK \l _bookmark19 3.2.1 构建创业企业组合的产业组织特性 24 HYPERLINK \l _bookmark20 3.2.2 组合规模和盈利分享结构 25 HYPERLINK \l _bookmark21 3.2.3 投资效率 25 HYPERLINK \l _bookmark22 3.2.4 风险投资家的质量 26 V V 目 录 HYPERLINK \l _bookmark23 3.2.5 风险投资家的努力水平 27 HYPERLINK \l _bookmark24 3.2.6 政府支持 27 HYPERLINK \l _bookmark25 3.2.7 投资阶段 27 HYPERLI