系统管理学报

系统管理学报 ›› 2022, Vol. 31 ›› Issue (1): 37-52.DOI: 10.3969/j.issn.1005-2542.2022.01.004

• 金融科技与金融工程 • 上一篇    下一篇

创新生态系统视域下公司创业投资中企业种群间共生演化——基于Logistic扩展模型

孟方琳1,2，田增瑞2，赵袁军3,4，常焙筌5   

  1. 1. 上海杉达学院 商学院，上海 201209；2. 东华大学 管理学院，上海 200051；3. 南京审计大学 会计学院，南京 211815；4. 南京审计大学 智能管理会计与内部控制研究院，南京 211815；5. 清华大学 公共管理学院，北京 100084
  • 出版日期:2022-01-28 发布日期:2022-01-20
  • 通讯作者: 赵袁军（1988-），男，博士
  • 作者简介:孟方琳（1980-），女，博士，副教授。研究方向为创新与创业投资
  • 基金资助:
    教育部人文社会科学研究青年基金资助项目（19YJC630091）；上海市哲学社会科学项目（2019BGB014）；2019年上海市属应用型本科上海杉达学院国际经济与贸易专业建设项目（Z30011.18.006）

Symbiosis and Evolution of Enterprise Species Groups in Corporate Venture Capital from the Perspective of Innovation Ecosystem Based on Logistic Extended Model

MENG Fanglin1,2, TIAN Zengrui2, ZHAO Yuanjun3,4, Chang Beiquan5   

  1. 1. School of Business, Shanghai Shanda University, Shanghai 201209, China; 2. Glorious Sun School of Business and Management, Donghua University, Shanghai 200051, China; 3. School of Accounting, Nanjing Audit University, Nanjing 211815, China; 4. Institute Management Accouting and Internal Control, Nanjing Audit Uviversity, Nanjing 211815, China; 5. School of Public Administration, Tsinghua University, Beijing 100084, China
  • Online:2022-01-28 Published:2022-01-20

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摘要： 随着我国“大众创业、万众创新”战略的提出，公司创业投资行业迎来了爆发式增长，其作为激励创新的有效形式是创业投资的一种特殊形态，已成为国内外大型企业开放式创新的重要战略选择。在创新生态系统中，大企业种群与创业企业种群以CVC为共生界面形成CVC生态群落，通过复杂动态的相互影响作用形成互惠共生关系。基于我国A股上市公司20年的创业投资实践，运用Logistic扩展模型，通过大企业与创业企业的专利创新数据来验证双方的共生演化关系。同时，从直接和间接投资模式角度对两种群的共生作用系数进行比较研究，结合组织特征总结分析演化过程中所呈现的共性和差异性变化，从政府、大企业及创业企业3个角度提出相关对策。

关键词: 创新生态系统, 公司创业投资, CVC生态群落, 共生演化, 投资模式

Abstract: With the proposal of the “mass entrepreneurship and innovation” strategy in China, the corporate venture capital industry has ushered in an explosive growth. As an effective form of incentive innovation, it is a special form of venture capital, and has become an important strategic choice for large enterprises at home and abroad. In the innovation ecosystem, the CVC ecological community is formed by the CVC as the symbiotic interface between the large enterprise population and the start-up enterprise population. Based on the 20-year venture capital practice of Listed Companies in China, this paper, using the logistic expansion model, verified the symbiotic evolution relationship between the two groups through the patent innovation data of large enterprises and venture enterprises. Besides, it compared the symbiosis coefficient of the two populations from the perspective of direct and indirect investment mode. Moreover, it summarized and analyzed the common and differential changes in the evolution process in combination with the organizational characteristics, and proposed relevant countermeasures from the perspectives of government, large enterprises, and start-up enterprises.

Key words: innovation ecosystem, corporate venture capital, CVC ecological community, symbiotic evolution, investment model

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