题目：  Financing Ventures: Some Macroeconomics

报告人：韩鹏飞    北京大学光华管理学院助理教授

主持人：汪淼军    浙江大学经济学院教授

主办单位：浙江大学经济研究所，人工智能和非对称博弈研究团队

时间：2019年12月6日（周五）     15:00-17:00

地点：浙江大学玉泉校区经济学院418室

Abstract: The relationship between venture capital and growth is examined using an endogenous growth model incorporating dynamic contracts between entrepreneurs and venture capitalists. At each stage of .financing, venture capitalists evaluate the viability of startups. If viable, venture capitalists provide funding for the next stage. The success of a project depends on the amount of funding. The model is confronted with stylized facts about venture capital; viz., statistics by funding round concerning the success rates, failure rates, investment rates, equity shares, and IPO values. Raising capital gains taxation reduces growth and welfare.

韩鹏飞：韩鹏飞老师于2018年获得宾夕法尼亚大学经济学博士学位，并于同年加入北京大学光华管理学院金融学系。他的研究围绕着经济增长展开，尤其关注技术创新、企业家创业和风险投资对于经济增长的作用。