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Relative performance evaluation in the application of venture capital

WANG You-hong1,FEI Wei2(1.Department of Economics and Management,Yuncheng College,Yuncheng 044000,China;2.School of Mathematics and Quantitave Economics,Dongbei University of Finance and Economics,Dalian 116023,China)  
In response to double principal-agent problems between venture investor and venture capitalist,as well as between venture investor and entrepreneur in venture capital,takes relative performance evaluation into the models to analyze the correlative factors which affect effort of venture capitalist level and so on.And this article discusses how venture capitalist designs the compensation contract to alleviate the principal-agent problem by two-dimension relative performance evaluation.The results show relative performance evaluation favors to solve principal-agent problems between venture investor and venture capitalist,as well as between venture investor and entrepreneur,and offers positive referenced significance for which venture investor and venture capitalist design reasonable incentive mechanism and improve investment contacts.
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