摘要
创业投资基金与孵化器在功能定位、实际发挥的作用上存在互补性,其融合发展已成趋势。文章基于数据包络分析(DEA)模型,以2016～2017年数据为基础对25家采用"创业投资基金+孵化器"模式的长三角地区(二省一市)孵化器效率进行实证分析。结果表明,"创业投资基金+孵化器"模式能巩固二者的既有优势,弥补不足,达到1+1>2的效果,尤其是"分别管理"模式的整体效率十分优良,且具有较大的改进和发展空间。为进一步提升该模式效率,政府应出台政策鼓励、支持企业孵化器内部成立创业投资基金,搭建促进孵化器与基金管理机构的对接平台,不断创新运营机制,提高孵化器效率。
Venture capital funds and incubators have complementary functions in function orientation and actual practice,so their integration has become a trend.Based on the data envelopment analysis(DEA)model,the paper makes an empirical analysis on the efficiency of 25 incubators(adopting"venture capital fund+incubator"mode)in the Yangtze River Delta region(two provinces and one city)based on the data from 2016 to 2017.The results show that the"venture capital fund+incubator"model can consolidate the advantages of the two,make up for the shortcomings,achieve the effect of 1+1>2,especially the overall efficiency of the"separate management"model is very good,and the mode has a greater space for improvement and development.In order to further improve the efficiency of the model,the government should introduce policy encouragement,support the enterprise incubator to set up the venture capital fund,build the docking platform to promote the incubator and fund management,or encourage the incubator to build the fund management company,constantly innovate the operating mechanism and raise the efficiency of the incubator.
作者
张子荣
ZHANG Zi-rong(Australian National University,Canberra 2600,Australia)
出处
《湖南工业职业技术学院学报》
2018年第5期149-156,共8页
Journal of Hunan Industry Polytechnic
关键词
创业投资基金
孵化器
数据包络分析模型
效率
venture capital fund
incubator
data envelopment analysis model
efficiency
