摘要
为确定代理纠纷问题中分阶段投资的时间及每期投资额,对创业企业家与风险投资家之间可能就权益额问题在不同阶段进行重新谈判而产生的代理问题进行了探讨,采用逆推法推导建立了分阶段风险投资决策模型,确定了可获利的风险投资项目的最优投资方式.
Staged financing in venture capital is usually considered as an effective way to solve the agency problem. But there are still some urgency questions to be solved such as when to finance the venture, how much to invest in each period and so on. From the fact that the entrepreneur perhaps will renegotiate about the claim with the venture investor at various stages, a decisionmaking model on staged financing in venture capital is established, so an optimal investment path of a profitable venture capital item can be determined.
出处
《哈尔滨工业大学学报》
EI
CAS
CSCD
北大核心
2003年第9期1150-1152,共3页
Journal of Harbin Institute of Technology
关键词
代理
风险投资
决策模型
最优投资方式
期权
阶段性投资
staged financing in venture capital
agency
decision-making model on investment
optimal investment path
