我国风险投资的博弈分析

• 作 者: 宋媛媛
• 机 构: 河南大学工商管理学院,
• 出 处: 时代金融
• 发表日期: 2009年04期
• 关键词: 风险企业 博弈论 创业成功 风险资本市场 风险投资商 重复博弈 种子期 商业计划书 博弈方 博弈结果

风险资本市场中,风险投资对于资本的需求者——风险企业,是一项稀缺资源,而能创业成功产生超额利润的风险企业,对风险企业来说同样是稀缺的。两者相互选择的过程是一个充分博弈的过程。本文以博弈论的视角,将两者相互选择的博弈过程划分为种子期、初创期、和成长期三个阶段分步分析,为双方的策略选择提供思路。

In venture capital market, venture capital is a scarce resource for those who need capital - venture capital. Venture enterprises that can succeed in generating excess profits in venture capital are also scarce for venture capital firms. The process of mutual choice between the two is a fully game process. This article, from the perspective of game theory, divides the game process of mutual selection into three stages: seed stage, start-up stage and growth stage. It provides a way of thinking for both parties to choose strategy.