融合高阶理论和烙印理论，基于286家中国民营上市企业2013~2022年公司创业投资数据，探究高管团队政府工作经历对公司创业投资的影响机制，以及组织内部、行业、区域3个层面因素的调节机制。研究发现：高管团队基于政府工作经历形成的政府逻辑烙印，显著正向影响在位企业的公司创业投资决策；独立创业投资工作经历的专业逻辑烙印与政府逻辑烙印相辅相成，双重烙印共同推动了公司创业投资的布局；战略性新兴产业对主效应并无显著影响；区域制度发展水平会弱化高管团队政府工作经历对公司创业投资的影响。

Based on the data of 286 Chinese private listed firms from 2013 to 2022, this study integrates the upper echelons theory and the imprinting theory to explore the influence mechanism of the government working experiences of the top management team on corporate venture capital investment, and analyzes the moderating effect of three levels of factors from the level of organization, industry and region. This study finds that the government logic imprint formed by the top management team based on the government working experiences has a significant positive impact on the focal firm’s corporate venture capital investment. The professional logic imprint of independent venture capital working experiences and the government logic imprint complement each other, and the double imprint jointly promotes the layout of the corporate venture capital. The strategic emerging industries does not have a significant influence on the main effect and the development level of regional institutions weakens the influence of the top management team government working experiences on corporate venture capital investment.