This paper considers the effects of strategic substitutability on performance and incentives in venture capital financing.
本文考察了受资企业的战略替代性对创业投资中创业企业家的业绩表现和激励的影响。
Mr. Firestone, a 28-year-old software engineer, said he could try to get financing for a start-up from venture capital firms now, “but I feel like I’d be having a hard time. Here you get to learn.”
Firestone今年28虽，是一位软件工程师，他说他现在就会着手为创业寻求风险投资，但是我觉得不会很容易，所以需要学习。
For venture capital, as an entirely new mechanism of investment and financing, besides the unique internal operation system, a sound external environment is indispensable.
风险投资作为一种全新的投融资体制，除了有其独特的内部运行机制外，良好的外部环境也不可缺少。
In terms of operating mechanism, venture capital can be seen as a continual financing cycle.
风险投资就其运作机理而言，可看作是一个连续不断的资金循环过程。
Venture capital is a new pattern of financing system. It supplies new economic increase point and promotes high-tech achievement transformation.
风险投资作为一种新型的投融资制度，孕育了新的经济增长点，推动了高新科技成果的转化。
Venture capital is a new pattern of financing system. It supplies new economic increase point and promotes high-tech achievement transformation.
风险投资作为一种新型的投融资制度，孕育了新的经济增长点，推动了高新科技成果的转化。
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