中文摘要：

高度垄断、难以建立激励机制、无产权约束、信息不完全等因素是政府工作效率低下的主要原因。在政府设立的创业投资引导基金的运行中也表现出相应的具体形态。为提高创业投资引导基金的运行效率，就必须对其运行管理进行制度创新。合作经营克服了高度垄断、难以建立激励机制的难题，绩效考核抑制无产权约束、信息不完全带来的效率损失。对引导基金管理者的绩效考核应侧重引导基金政策效应，并建立完整的评价指标体系。

英文摘要：

High monopoly, difficulty in establishing the reward mechanism, no property constraints,and the incomplete information are the main reasons for the low efficient work of the government. Inefficiency also exists in the operation of the venture capital guidance fund that government has established. We have to innovate to the management system of the venture capital guidance fund to improve its efficiency. Cooperation can overcome the high monopoly and difficulty in establishing the reward mechanism. Performance evaluations can also reduce the loss of the efficiency coming from no property constraints, and the incomplete information. The performance evaluation to the managers of the venture capital guidance fund should focus on policy guidance,and establish a complete index system.