创业者与创业投资家的信任对创业绩效的影响研究

创业者与创业投资家的信任对创业绩效的影响研究(15000字)
摘要：基于创业投资家与创业者之间信任的基本特征和关系，重点讨论信任的建立时双方绩效所带来的影响。认为信任降低了他们时于高成本监控激励机制的需求，改变了双方对彼此行为的预期，促进了双方的合作。而且，这种信任在关系投资、知识共享、互补资源融合、高效治理机制等四个要素与关系租之间起到了关键的调节作用。
关键词：创业投资家；创业者；信任；合作；关系租

A Impact of Trust between Entrepreneur and Venture Capitalist on Entrepreneurial Performance
Abstract：Based on the characteristics of trust in the venture capitalist-entrepreneurs dyads，the paper mainly studies the impacts of trust in the dyads on their performance．It is proposed that trust reduces the need for costly monitoring activities an d ownership incentives，changes one side's expectation of the probable strategy of the other and enhances the cooperation of the dyad Furthermore, the relationships between four factors who are the level of relation—specific investments，the level of know sharing，the level of resource combination，an d the level of governance effectiveness and the creation of relational rents．are moderated by the trust level of the dyads．
Key words：venture capitalist；entrepreneur；trust；cooperation；relational rents