摘要
从风险市场显著特点和风险资本的特征角度,解释了恶性增资的资本是风险资本,它对应市场是风险资本市场。根据最佳预期的收益与风险图解释了高估自己决策能力的投资者在恶性增资中仍然是理性经济人,他在不同种情况下追求自身不同的利益最大化。
This paper intends to interpret that the capital of escalation of commitment is a kind of venture capital, whose corresponding market is venture capital market, from the perspective of the dominant characteristics of the venture market and those of the venture capital. According to the schema explaining the best expected benefits and risks, this paper explains that investors, who have overrated decision--making ability in escalation of commitment, are a still rational economic man in the pursuit of maximization of his own interest under various circumstances.
出处
《科技和产业》
2008年第11期54-57,共4页
Science Technology and Industry
关键词
恶性增资
人力资本
声誉资本
财务资本
escalation of commitment
human capital
reputation capital
financial capital
