Research on The Impact of Venture Capital on Technology Innovation Based on The Corporate Governance

The scholars pay great attention to the impact of venture capital on technology innovation in recent years, but there are not much research findings because of limited data, theoretic analysis framework is not still constructed. Some scholars discuss the impact of venture capital on technology innovation based on resource-based view, budget constraint, mechanism of adaptation and general equilibrium, but none of them are recognized consistently. The article first analyses correlations between venture capital, corporate governance and technology innovation, then proposes a new model of impact of venture capital on technology innovation based on corporate governance, and illustrates impact mechanism with the model, the model provides a new Analysis Framework to present research field, it also has reference significance to venture capital practice.