主 题：Venture Capital, Patents and Innovation

主讲人：Xundong Yin，356体育官方网站公共财政与政策研究院助理教授。山东大学经济学学士、北京大学中国经济研究中心经济学硕士，2012年获得法国Toulouse School of Economics经济学博士。研究成果曾在CEPR Conference on Applied Industrial Organization等会议演讲。

摘 要： This paper provides a new channel through which venture capital promote starts-ups in the sense that by gaining a private benefit from start-up financing without patent protection, the venture capital is more willing to finance entrepreneur at the beginning than other investors. Based on a double moral hazard model, we find that comparing to the non-VC investors, the willingness to invest is higher for venture capitalists, it mitigates the credit constraints of entrepreneur and thus facilitate the startup of entrepreneur and foster their productive innovation activities.

时 间：2013年4月16日星期二16:00-17:30

地 点：学术会堂608

主办单位：人力资本与劳动经济研究中心

[编辑]：孙颖