الإطار الحوكمي للعلاقة بين شركات رأس المال المخاطر والمؤسسات الممولة -دراسة حالة شركات رأس المال المخاطر الناشطة في الجزائر-

Abstract

The venture capital companies as a shareholder particularly in enterprises funded by the characteristics that distinguish financing through venture capital, as well as the laws imposed by the Algerian legislature, where they cannot contribute to a specific enterprises with more than 49% of its part. Will address this paper the most important problems faced venture capital companies with its funded enterprises, due to the emergence of the agency problem between this two parties. In order to reach the goal of this study was divided into three key areas where he addressed the first axis concept of venture capital and its importance, as well as venture capital firms active in Algeria while includes second axis major risks that appear when do venture capital companies funded projects and the most important mechanisms that governance this relationship, and the third axis is a field study on venture capital companies active in Algeria to know the most important obstacles that stand in front of the development activity and most important mechanisms that it use to adjust the relationship with funders.