Empirical analysis of the supporting environment on the venture capital development role

This paper uses the multiple regression analysis and the structural equation modeling (SEM) to study the relationship between venture capital and supporting environment. The empirical analysis results show that, the corporation leading science technology environment (CLSTE) and the government supportive policies synthesis level (GSPSL) have direct effects on the development of VC; the development level of economy (DLE) and the CLSTE, the development pattern of economy (DPE) and the GSPSL interact to promote the development of VC. Therefore, in order to develop VC, it must optimize the economic environment (EE), cultivate the CLSTE and perfect the GSPE.