中国天使投资发展趋势与对策研究

科研管理 ›› 2015, Vol. 36 ›› Issue (10): 161-168.

中国天使投资发展趋势与对策研究

王佳妮^1,2, 李阳³, 刘曼红^2,3

1. 首都经济贸易大学金融学院, 北京 100070;
2. 中国科学院虚拟经济与数据科学研究中心, 北京 100190;
3. 中国人民大学财政金融学院, 北京 100872

收稿日期:2014-03-11 修回日期:2015-04-03 出版日期:2015-10-25 发布日期:2015-10-21
通讯作者: 王佳妮
作者简介:王佳妮(1983-),女(汉),湖北荆州人,首都经济贸易大学金融学院讲师,中国科学院虚拟经济与数据科学研究中心博士后,研究方向:天使投资理论与政策.
李阳(1988-),男(汉),四川巴中人,中国人民大学财政金融学院博士研究生,研究方向:风险投资与公益投资.
刘曼红(1951-),女(汉),北京人,中国人民大学财政金融学院教授、博士生导师,中国科学院虚拟经济与数据科学研究中心兼职教授,研究方向:风险投资、天使投资与绿色投资.
基金资助:
国家自然科学基金青年项目"天使投资行为特征、组织架构与公共政策研究"(71303224;2014.01-2016.12)、中国博士后科学基金课题"国际视角下的天使投资市场特性与政策体系研究"(2014M550814;2014.05-2015.05).

A study on the development tendency and strategies of angel investment in China

Wang Jiani^1,2, Li Yang³, Liu Manhong^2,3

1. The School of Finance, Capital University of Economics and Business, Beijing 100070, China;
2. CAS Research Center On Fictitious Economy & Data Science, Beijing 100190, China;
3. School of Finance, Renmin University of China, Beijing 100872, China

Received:2014-03-11 Revised:2015-04-03 Online:2015-10-25 Published:2015-10-21

摘要/Abstract

摘要： 借助一手调研数据和二手资料,本文从发展趋势和对策两个方面分析了处于转型时期的中国天使投资市场,研究发现:(1)中国天使投资正处于高速发展阶段,尤其是在国家鼓励创新创业的氛围下,对天使投资营造了利好的环境.基于这个新形势,天使投资的未来趋势体现在平民化、组织化、机构化以及与孵化器、股权众筹模式的深度融合化等几个方面.(2)天使投资市场在投资者认知、规范化发展以及政策制定等方面仍存在诸多问题.为了推动天使投资实现规范性发展,并逐步走向成熟,以支撑中国创新型经济发展,本文建议需要进一步完善天使投资法律法规与培育管理体系、出台天使投资激励政策、加大天使投资引导力度.

关键词: 天使投资, 发展趋势, 对策

Abstract: By using surveys and second-hand data, this paper studies the development tendency and strategies of Chinese angel investment in the transformation period. It finds that: (1)Chinese angel investment is experiencing rapid development. Government encourages entrepreneurship and innovation, which has created a good environment for developing angel investment. Therefore, the Chinese angel investment will shift into the phase of popularizational, organizational, institutional, and integration with incubator and equity crowd funding deeply. (2)Chinese angel investment has some problems in investor's cognition, standardization development and policy making. For promoting standardized and sound development of angel investment, to support innovative economic development, this paper suggests that improve the angel investment laws and develop the management system, issue the incentive policies and intensify the guiding role of the government.

Key words: angel investment, development tendency, strategies

中图分类号:

F830
59

王佳妮, 李阳, 刘曼红. 中国天使投资发展趋势与对策研究[J]. 科研管理, 2015, 36(10): 161-168.

Wang Jiani, Li Yang, Liu Manhong. A study on the development tendency and strategies of angel investment in China[J]. Science Research Management, 2015, 36(10): 161-168.

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