The verification and modification of applicability of Lewicki & Bunker´s trust model in VC-E´s practice of China

This paper explores the applicability of Lewicki & Bunker´s trust model in the practice of China´s VC-E. Based on the trust model, we have done the questionnaire survey on 323 experts and professors in this field from seven provinces which are divided into drearily active entrepreneurial region, less active entrepreneurial region, active entrepreneurial region, more active entrepreneurial region by Global Entrepreneurship Monitor (GEM). A structural equation model is established to make an empirical study on the influence factors of trust of venture capitalists to entrepreneurs. The result indicates that calculus-based trust, knowledge-based trust and identification-based trust exist imbalanced effect significantly on venture capitalists to entrepreneurs´ trust in China; We correct the model based on China´s national condition?. The result shows that interpersonal relationship has a direct effect on the trust of VC-E. Finally, based on the analysis of the results, the paper provides useful advices for the development of practical choice of venture capitalist to the venture.