JOURNAL OF BEIJING UNIVERSITY OF AERONAUTICS AND A ›› 2017, Vol. 30 ›› Issue (1): 88-94.DOI: 10.13766/j.bhsk.1008-2204.2014.0596

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On Venture Investment and Financing System Based on AHP-fuzzy Synthetic Evaluation Model: A Case Study of Entrepreneurial Incubators in Anhui Province

FANG Shijian, CAI Yinyan   

  1. School of Management, University of Science and Technology of China, Hefei Anhui 230026, China
  • Received:2014-11-18 Online:2017-01-25 Published:2017-01-16


Establishing and improving the venture investment and financing system is an important issue of China's economic growth. By reference to the Stakeholder Theory, this paper selects first-level index including factors of government policy, financial institutions, intermediary services, enterprises and others(risk investment funds, insurance funds, private capital) as well as second-level evaluation index to construct the evaluation index system of the venture investment and financing system in China. This paper analyzes and evaluates the new entrepreneurial incubators in Anhui Province through analytic hierarchy process (AHP) method and fuzzy synthetic evaluation method. The results show that:the intermediary service system performed quite well in the venture investment and financing system, while government, financial institutions, enterprises and other factors performed poorly. Therefore, the overall performance of the system is in mediocre level. In the end of the paper, some relevant recommendations are put forward to optimize the venture investment and financing system.

Key words: venture, investment and financing system, index system, Analytic Hierarchy Process (AHP), fuzzy synthetic evaluation method

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