论私募股权投资基金有限合伙人权益的保护
发布时间：2018-11-11 17:59
【摘要】：近几年,随着高新技术产业的快速发展,为其提供资金支持的私募股权投资基金发展势头也非常迅猛,相较于公司型和契约型,有限合伙型私募股权投资基金组织结构方便灵活,运营效率高、运营成本低且无需承担双重税负,故我国私募股权投资基金的组织形式将更多的选择有限合伙型。然而,作为有限合伙型私募股权投资基金管理人的普通合伙人为了自身利益,在实际运作管理中存在着诸如自融自投、虚假推介、登记备案不明等问题,致使有限合伙人的权益遭受损失。本文在分析权利机制、约束机制、激励机制、责任机制四个方面存在的缺陷的基础上,阐述有限合伙人权益保护的必要性。借鉴国外成熟的发展经验,在上述四个方面提出完善建议,以期能够促使有限合伙人权益保护体系化。本文由三个部分构成:第一部分论述了私募股权投资基金的发展现状,分析其组织结构,提出有限合伙人权益保护存在的问题以及对问题的引申分析。第二部分具体分析了我国有限合伙型私募股权投资基金在权利机制、约束机制、激励机制、责任机制方面存在的缺陷,致使有限合伙人的权益无法得到保障。第三部分以上文的分析为基础,提出完善的建议:完善有限合伙人的权利体系、强化普通合伙人的约束机制、优化激励机制、普通合伙人承担无限责任,力图建立全面的有限合伙人权益保护体系。
[Abstract]:In recent years, with the rapid development of high and new technology industry, the private equity fund which provides the capital support for it also has a very rapid development momentum, compared with the company type and contract type, Limited partnership private equity investment fund has the advantages of convenient and flexible organization structure, high operating efficiency, low operating cost and no need to bear double tax burden, so the organization form of private equity investment fund in our country will choose more limited partnership type. However, as the manager of the limited partnership private equity investment fund, the general partners, for their own benefit, have some problems such as self-financing, false recommendation, unclear registration and record keeping in the actual operation management. The loss of a limited partner's equity. On the basis of analyzing the defects of the right mechanism, the restraint mechanism, the incentive mechanism and the responsibility mechanism, this paper expounds the necessity of the protection of the rights and interests of the limited partners. Using the mature development experience of foreign countries for reference, this paper puts forward some suggestions in the above four aspects in order to promote the protection system of limited partners' rights and interests. This paper consists of three parts: the first part discusses the development of private equity investment fund, analyzes its organizational structure, puts forward the limited partner rights and interests protection problems and the extension of the problem. The second part analyzes the defects of the limited partnership private equity investment fund in the aspects of right mechanism, restraint mechanism, incentive mechanism and responsibility mechanism, which makes the rights and interests of limited partners unable to be protected. On the basis of the above analysis, the third part puts forward some suggestions: perfect the limited partner's right system, strengthen the general partner's restraint mechanism, optimize the incentive mechanism, and the general partner bear unlimited liability. Strive to establish a comprehensive limited partner rights and interests protection system.
【学位授予单位】：广东财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.291.91
本文编号：2325681
[Abstract]:In recent years, with the rapid development of high and new technology industry, the private equity fund which provides the capital support for it also has a very rapid development momentum, compared with the company type and contract type, Limited partnership private equity investment fund has the advantages of convenient and flexible organization structure, high operating efficiency, low operating cost and no need to bear double tax burden, so the organization form of private equity investment fund in our country will choose more limited partnership type. However, as the manager of the limited partnership private equity investment fund, the general partners, for their own benefit, have some problems such as self-financing, false recommendation, unclear registration and record keeping in the actual operation management. The loss of a limited partner's equity. On the basis of analyzing the defects of the right mechanism, the restraint mechanism, the incentive mechanism and the responsibility mechanism, this paper expounds the necessity of the protection of the rights and interests of the limited partners. Using the mature development experience of foreign countries for reference, this paper puts forward some suggestions in the above four aspects in order to promote the protection system of limited partners' rights and interests. This paper consists of three parts: the first part discusses the development of private equity investment fund, analyzes its organizational structure, puts forward the limited partner rights and interests protection problems and the extension of the problem. The second part analyzes the defects of the limited partnership private equity investment fund in the aspects of right mechanism, restraint mechanism, incentive mechanism and responsibility mechanism, which makes the rights and interests of limited partners unable to be protected. On the basis of the above analysis, the third part puts forward some suggestions: perfect the limited partner's right system, strengthen the general partner's restraint mechanism, optimize the incentive mechanism, and the general partner bear unlimited liability. Strive to establish a comprehensive limited partner rights and interests protection system.
【学位授予单位】：广东财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.291.91
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