中国矿业大学学报（社会科学版）2025，Vol.27Issue(6)：87-101,15.DOI:10.20089/j.cnki.issn.1009-105x.2025.06.007
创新资本形成的制度赋能及其法治保障
Institutional Empowerment for the Formation of Innovation Capital and Its Legal Guarantee
摘要
Abstract
Innovation capital refers to long-term and patient capital that promotes the transformation of innovation achievements into productivity and economic growth in the diversified financing ecology of the capital market.It takes private investment funds as the main legal form in the context of China.However,for a long time,the supervision and administration of private funds in China has been faced with a dilemma of insufficient basis at the level of administrative regulations.Strict control and regulatory differences have led to chaos of private funds in the regulatory gray areas.The accumulation of risks and the spillover to consumers have hindered the strategic goal of the"finance serving economy"and"innovation-driven development".Facing an innovation-centered international competitive environment,the Regulation on the Supervision and Administration of Private Investment Funds has completed the top-level design of industrial legal norms by the interaction between the theory and practice of the capital market.From a functionalist perspective,this regulation still has many shortcomings.The institutional space for empowering the formation of innovative capital is limited.During the implementation process,it should form an institutional linkage with the new Company Law,complete the adaptive improvement of private equity fund supervision through the embedding of the"five major supervision"concept,optimize the system throughout the entire process of"fund raising,investment,management and exit",and thereby establish a legal system that conforms to the growth logic of innovative capital.关键词
创新资本/私募基金监管条例/制度赋能/金融监管Key words
innovation capital/the Regulation on the Supervision and Administration of Private Investment Funds/institutional empowerment/financial regulation分类
社会科学引用本文复制引用
LI Anan..创新资本形成的制度赋能及其法治保障[J].中国矿业大学学报（社会科学版）,2025,27(6):87-101,15.基金项目
国家社会科学基金项目"公司法制度竞争视野下股权结构变革研究"(项目批准号:21BFX095) （项目批准号:21BFX095）
