不确定性环境下的创业决策与金融体系风险分担的创业鼓励
发布时间：2018-11-19 20:52
【摘要】：通过构建不确定性环境下综合考虑企业家才能和风险态度的创业决策模型,剖析缺乏风险分担导致的创业障碍,论证金融合约提供的风险分担对创业的鼓励效应,并在理论阐释的基础上归纳金融体系风险分担机制创新的历史轨迹及其对经济发展的效率贡献,结果表明,在不确定环境下,创业决策取决于个体的企业家才能和风险容忍度;寻求创业风险分担是企业家的固有需要;金融合约和交易结构的发展使风险分担机制趋于完备;现代金融体系为创业风险提供了灵活多样的分担机会和配置模式,使企业家得以在经济成长中充分发挥其创新才能。
[Abstract]:By constructing an entrepreneurial decision-making model that considers entrepreneur talent and risk attitude in uncertain environment, this paper analyzes the obstacles caused by lack of risk-sharing, and demonstrates the incentive effect of risk-sharing provided by financial contracts on entrepreneurship. On the basis of theoretical explanation, the paper summarizes the historical track of financial system risk-sharing mechanism innovation and its contribution to the efficiency of economic development. The results show that, under uncertain environment, entrepreneurial decision-making depends on individual entrepreneurial talent and risk tolerance. It is the inherent need of entrepreneurs to seek venture risk sharing, and the development of financial contract and transaction structure makes the risk sharing mechanism more complete. The modern financial system provides flexible and diversified opportunities and allocation models for entrepreneurial risk sharing, which enables entrepreneurs to bring their innovative talents into full play in economic growth.
【作者单位】： 武汉大学经济与管理学院金融系;
【基金】：教育部人文社会科学研究青年基金项目(12YJC790284) 武汉大学自主科研项目(人文社会科学,20110344) “中央高校基本科研业务费专项资金”资助项目
【分类号】：F224;F272;F830
[Abstract]:By constructing an entrepreneurial decision-making model that considers entrepreneur talent and risk attitude in uncertain environment, this paper analyzes the obstacles caused by lack of risk-sharing, and demonstrates the incentive effect of risk-sharing provided by financial contracts on entrepreneurship. On the basis of theoretical explanation, the paper summarizes the historical track of financial system risk-sharing mechanism innovation and its contribution to the efficiency of economic development. The results show that, under uncertain environment, entrepreneurial decision-making depends on individual entrepreneurial talent and risk tolerance. It is the inherent need of entrepreneurs to seek venture risk sharing, and the development of financial contract and transaction structure makes the risk sharing mechanism more complete. The modern financial system provides flexible and diversified opportunities and allocation models for entrepreneurial risk sharing, which enables entrepreneurs to bring their innovative talents into full play in economic growth.
【作者单位】： 武汉大学经济与管理学院金融系;
【基金】：教育部人文社会科学研究青年基金项目(12YJC790284) 武汉大学自主科研项目(人文社会科学,20110344) “中央高校基本科研业务费专项资金”资助项目
【分类号】：F224;F272;F830
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