Proceedings of the 2017 International Conference on Management, Education and Social Science (ICMESS 2017)

A Comprehensive Analysis of Venture Capital Double Game

Authors
Jixia Xiong, Yanxia Lyu, Tengfei Huang
Corresponding Author
Jixia Xiong
Available Online June 2017.
DOI
https://doi.org/10.2991/icmess-17.2017.21How to use a DOI?
Keywords
venture capital; game model; moral hazard
Abstract
This study aims to search for the strategy basis and influencing factors of investors, venture capitalists and entrepreneurs in venture capital, so as to promote the healthy development of the venture capital industry through corresponding institutional arrangements. We make a comprehensive game model between investors, venture capitalists and entrepreneurs to specifically analyze the strategies and game results of them. Investors, venture capitalists and entrepreneurs' strategy choice directly influence the efficiency of venture capital operation and the development of venture capital industry. The study obtains the game solution under different situations, and finds out the main influencing factors as follows: the environmental factor, the capacity of VC and VE, the moral quality of VC and VE, the revenue ratio, the share dividend ratio, the supervision strength, the punishment strength and the enforcement strength, the reputation mechanism and so on. We propose changing the value of the major factors through institutional arrangements to optimize game results.
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This is an open access article distributed under the CC BY-NC license.

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Proceedings
2017 International Conference on Management, Education and Social Science (ICMESS 2017)
Part of series
Advances in Social Science, Education and Humanities Research
Publication Date
June 2017
ISBN
978-94-6252-348-7
ISSN
2352-5398
DOI
https://doi.org/10.2991/icmess-17.2017.21How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Jixia Xiong
AU  - Yanxia Lyu
AU  - Tengfei Huang
PY  - 2017/06
DA  - 2017/06
TI  - A Comprehensive Analysis of Venture Capital Double Game
BT  - 2017 International Conference on Management, Education and Social Science (ICMESS 2017)
PB  - Atlantis Press
SP  - 88
EP  - 92
SN  - 2352-5398
UR  - https://doi.org/10.2991/icmess-17.2017.21
DO  - https://doi.org/10.2991/icmess-17.2017.21
ID  - Xiong2017/06
ER  -