Abstract: Due to the influence of rent-seeking, collusion, opportunism and other corrupt acts, the strategy of industry-university is far from reaching the expected goal. The theory of corporate governance of virtual companies can provide guidance for the development of industry-university in theory and practice. The empirical research reveals the micro promoting mechanism of the virtual corporate governance of the industry-university to the tragedy governance of the common land under the intermediary effect of rent-seeking, collusion and opportunism. The research shows that under the existing system and system, our country should give priority to improve the virtual information disclosure of industry-university, and then gradually optimize other virtual corporate governance elements, in order to get rid of the passive situation as soon as possible.

Key words: industry-university, virtual company, corporate governance, public tragedy