摘要
风险投资是一种高风险与高收益并存的投资，风险资本家作为投资理性人总是希望把风险控制在最低限度内，获取最大化收益，然而，风险资本家与创业家之间的信息总是不对称的，从而出现两者之间的风险和收益的分摊问题，本文分析了合理的投资交易设计对解决这一问题的重要性，而且重点地分析了合理投资交易设计的基本途径及制度环境。
Venture investment can gi ve bir th of high earning and high risk at the same time.The venture capitalists always hope to get the maximized earning in t h e condition of minimized risk.However,th e information between the venture capital ist and entrepreneur is asymmetric,which determines it is very important how to establish the allocation of the burden o f risk and earning between them.This the sis analyses the importance of a rational design for the transaction of venture investment to solve the problem,and dem onstrates the fundamental ways,as well a s the environments of system to meet a c ontract between the venture capitalist a nd entrepreneur.
