论私募股权基金在我国企业海外投资中的角色与作用

发布时间：2018-03-16 17:26

本文选题：私募股权基金　切入点：海外投资　出处：《浙江大学学报(人文社会科学版)》2011年01期 　论文类型：期刊论文

【摘要】：随着中国经济的发展及中国企业综合实力的增强,中国企业进行海外投资的步伐日益加快。在中国企业参与到全球产业竞争的进程中,私募股权应积极融入其中。私募股权不仅是企业海外投资的一种营利方式,也是企业海外投资的金融性并购手段。私募股权具有广泛的关系网络,可获得深层信息。它的介入可淡化国家色彩,拓宽融资渠道,提高企业并购能力。此外,私募股权可利用其丰富的经验与人才储备为并购提供支持。私募股权基金可通过发挥其优势助力中国企业海外投资,但也可能给企业带来一定风险。目前,我国私募股权在筹集、运作、退出等环节都面临较大的法律障碍。为充分发挥私募股权基金在我国企业海外投资中的作用,我国应加快相关制度建设,对私募股权进行有效监管以防范风险,适当推进杠杆收购以完善融资途径,加快建立多层次资本市场,优化退出机制,并给予适当税收优惠与更好的服务。
[Abstract]:With the development of China's economy and the enhancement of the comprehensive strength of Chinese enterprises, the pace of overseas investment by Chinese enterprises is accelerating day by day. In the process of Chinese enterprises participating in the global industrial competition, Private equity should be actively integrated into it. Private equity is not only a profitable way for enterprises to invest overseas, but also a means of financial mergers and acquisitions for overseas investment. Private equity has a wide network of relationships. Access to deep information. Its intervention can desalinate national color, broaden financing channels, improve corporate M & A capabilities. In addition, Private equity can use its wealth of experience and talent to support mergers and acquisitions. Private equity funds can help Chinese companies invest abroad by taking advantage of their strengths, but may also pose risks to companies. In order to give full play to the role of private equity funds in overseas investment of Chinese enterprises, China should speed up the construction of relevant systems. Private equity should be supervised effectively to prevent risks, to promote leveraged buy-out (LBO) in order to improve the financing approach, to speed up the establishment of multi-level capital market, to optimize the exit mechanism, and to provide appropriate tax concessions and better services.
【作者单位】：浙江大学光华法学院;
【基金】：国家“211工程”三期重点学科建设项目(203000-123210301) 浙江省教育厅科研项目(Y200906638)
【分类号】：F832.5

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