Research on Principal-agent Risk Prevention Based on Asymmetric Information for Venture Capital

This paper analyses the diplex principal-agent relation between venture investor and capitalist, investor and enterprises, and analyses the problems of adverse selecting and moral hazard which result from the information asymmetry. To diminish the information asymmetry degree and make consignor's and succedaneum's benefit more consistent, a series or countermeasures have been designed. The risk-guard measures for investor and capitalist are as follows: forming the report mechanism, designing valid reward and restriction mechanism; the risk-guard measures for investor and enterpriser; strict filtration for items, responsibility investigation to venture enterprises, phases investment, flexible investment mode; carrying out shares futures for venture administrators and effective supervision.