Abstract: In-depth exploration of influencing factors on conflict emergence between entrepreneurs of technological enterprise and investors is quite helpful to provide useful theoretical and practical reference value for the business practice and investment management. Based on grounded theory, this study refines the critical influence factors called GPEP model, which includes the game between entrepreneurs and investors, R&D risk preference, entrepreneurial environment and psychological mechanism. And，we also refine ten sub-categories．Moreover，this study explores the four influencing paths of main categories respectively.

摘要： 深入探究技术型企业创业者与投资方冲突显现的影响因素，有利于为创业实践和投资管理提供有益的理论和实践参考价值。基于扎根理论，本研究构建了技术型企业创业者与投资方冲突显现的影响因素GPEP模型，包括创业者与投资方博弈、研发风险偏好、创业环境、心理机制4个主范畴以及对应的10个子范畴。在此基础上，对模型中4个主范畴的作用路径进行了剖析。