Game Analysis of Entrepreneurs´ Moral Risk in the Venture Capital Investment

Due to the information asymmetry, investors are confronted with the "moral risk" of entrepreneurs in the venture capital investment. By using game theory, this paper gives an in-depth analysis to the "moral risk" of entrepreneurs and draws some valuable research conclusions and suggestions, including: behavioral choice of entrepreneurs is a function of the system; the enterprises should constantly enhance the information transparency; social supervision system over entrepreneurs should be established and perfected gradually.