Diversity of Opinion and Financing of Innovative Industrial Clusters

Abstract

In the course of financing of innovative industrial clusters, it is the informational move that investors finance enterprises or projects. Investors have difference in priori probabilities, which will lead to the diversity of opinion among investors. The degree of the diversity has determined investors choose to take decentralized action or collective action. The difference of market finance and intermediated finance in reducing the cost of collecting and processing information determines that the difference of the performance in financing of innovative industrial clusters among different methods of financing.