我国有限合伙制私募股权基金法律问题研究

发布时间：2018-03-03 18:31

本文选题：私募股权基金　切入点：有限合伙　出处：《首都经济贸易大学》2014年硕士论文　论文类型：学位论文

【摘要】：随着2006年我国《合伙企业法》的颁布，，有限合伙这种组织形式在法律层面有了独立的地位，有限合伙型的私募股权企业也如雨后春笋般在国内相继成立，极大地推动了我国私募股权投资行业的发展进程。但由于相关法律法规只是在原则上规定了有限合伙这种组织形式，并没有专门针对有限合伙制私募股权基金的法律法规，在实践中缺乏可操作性。因此，笔者以有限合伙制私募股权基金作为研究对象，阐述了它的法律特征、立法概况以及发展趋势，并从中发现其存在的问题，提出完善合格投资者的法律界定、管理机制、税收制度、退出渠道等方面的法律建议。在有效提高私募股权基金的运转能力、促进我国私募股权投资基金行业的和谐有序发展上具有极大地理论价值和现实意义。除引言外，本文共分为五个部分：第一部分，讲述有限合伙制私募股权基金的理论基础，在法律范围内对它进行了界定，全面介绍其法律特征、组织形式和发展趋势。通过三种组织形式的比较分析，笔者认为有限合伙这种组织形式的私募股权基金最有利于我国私募股权基金行业的发展。第二部分，主要分析我国有限合伙制私募股权基金的法律环境，从地方立法、国务院部门规章和全国人大立法三个层次阐述其法律规范现状，然后对我国有限合伙制私募股权基金的法律环境做出综合评价。第三部分，通过前文对我国有限合伙制私募股权基金法律规范现状的分析，发现并提出其存在的问题，主要包括合格投资者的法律界定不明确、管理机制相对混乱、税收法律制度不完善、缺乏灵活的退出渠道、监管主体不清晰五个方面。第四部分，由于美国是有限合伙制私募股权基金在法律规制和实践操作最健全的国家，因此本部分主要以美国为例，着重研究其完善的立法体系、丰富的税收激励政策、多样的退出渠道以及严格的监管机制，对改善我国有限合伙制私募股权基金的法律制度有着重要的借鉴意义。第五部分，根据前文发现我国有限合伙制私募股权基金存在的问题和对美国法律制度的学习研究，提出完善我国相关制度的法律建议。主要包括：从不同角度明确投资者的法律界定、建立有效的管理机制、完善相关税收法律制度、提供退出渠道的多样性选择、明确监管主体。
[Abstract]:With the 2006 China's "partnership enterprise law" promulgated, the organization form of limited partnership has independent status in the legal level, private equity limited partnership enterprise is like in China have set up such as bamboo shoots after a spring rain, which greatly promoted the development of China's private equity investment industry. But because the relevant laws and regulations is in principle specify the organization form of limited partnership, and no specific laws and regulations of Limited Partnership Private Equity Fund, the lack of maneuverability in practice. Therefore, the author of a limited partnership private equity fund as the research object, discusses its legal characteristics, legislative situation and development trend, and find out the existing problems from it, put forward to perfect the legal definition of qualified investors, management mechanism, tax system, legal advice and other aspects of the exit channels. A significant increase in the private equity fund. It is of great geographo value and practical significance to promote the harmonious and orderly development of private equity investment fund industry in China.
In addition to the introduction, this article is divided into five parts:
The first part, the theoretical basis about Limited Partnership Private Equity Fund, in the legal scope of it were defined, a comprehensive introduction to its legal characteristics, trend of organization and development. Through comparative analysis of three forms of organization, the author thinks that the private equity fund limited partnership which form the most conducive to the development of China's private equity the equity fund industry.
The second part mainly analyzes the legal environment of our limited partnership private equity fund, from the local legislation, the three levels of the departments of the State Council regulations and the NPC's legislative status quo of the legal norm, then the legal environment of our limited partnership private equity fund to make a comprehensive evaluation.
The third part, through the above analysis on the status quo of the legal norms of our limited partnership private equity fund, and puts forward the existing problems, including the legal definition of qualified investors is not clear, the management mechanism of the relative chaos, the tax law system is not perfect, the lack of flexible exit channels, the regulatory body five is not clear.
The fourth part, because the United States is the limited partnership private equity funds operating in countries with the most perfect legal regulation and practice, so this part mainly in the United States, with emphasis on its perfect legislative system, rich tax incentives, various exit channels and strict supervision mechanism, have important reference significance to the law to improve the system of our limited partnership private equity fund.
The fifth part, according to the study of our limited partnership private equity fund problems and the legal system of the United States found above, puts forward suggestions on legal system of our country. Mainly includes: the definition of investors clearly from different angles of the law, establish an effective management mechanism, improve the relevant legal system of tax revenue, provide exit channels the diversity of choice, a clear regulatory body.

【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：D922.28

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