基于二元语义的高新技术企业风险投资项目评价与决策研究

发布时间：2018-03-18 14:49

本文选题：高新技术企业　切入点：风险投资　出处：《华南理工大学》2013年硕士论文　论文类型：学位论文

【摘要】：在当今全球经济面临金融危机的大背景下，，中国经济的发展正面临着严峻的“转型”难题，而高新技术就成为了我国当今社会经济转型和可持续发展的重要支柱。由于高新技术企业具有高投入和高风险的特性，其必须依赖风险投资资本的“助力”才能飞速发展。于此同时，高新技术企业高成长的特性也吸引了大量的风险投资资本，特别是在有中国“纳斯达克”之称的创业板成功启动之后，投向高新技术企业的风险投资资本已经占我国所有风险投资资本总量的80%以上。如何运用行之有效的科学的方法评价高新技术企业风险投资项目的优劣成为当今我国风险投资领域急需解决的问题。因此，本文通过对高新技术风险投资项目的特点进行深入分析，研究其有关决策模型并对模型进行运用，对加快我国高新技术风险投资的发展具有十分重要理论和实际意义。本文在对国内外研究现状进行大量的充分的研究基础上，通过深入分析高新技术企业风险投资项目的特点和风险投资项目投资决策过程，同时深入剖析不同发展阶段高新技术企业风险投资项目的特征后提出种子期与初创期、成长期与扩张期的高新技术企业风险投资项目评价指标体系。为了对评价指标体系进行优化，本文通过设计调查问卷并向风险投资者发放得到相关调查数据，并利用数理统计方法和二元语义得到优化后的评价指标体系。本文利用近年来决策领域研究的热点基于二元语义语言信息的评价方法对优化后的高新技术企业风险投资项目评价体系进行评价，并从二元语义加权平均算子、二元语义T-OWA算子以及二元语义与灰色理论相结合这三个不同的方面对二元语义评价方法进行深入研究，并提出采用先验权重和后验权重的方式得到决策者权重信息，具有较强的创新性。最后，本文结合高新技术企业风险投资的实际案例对该指标体系与评价模型进行检验，表明本指标体系与评价模型能够比较全面、综合的反映出高新技术企业的优劣势，具有信息量大，易于分析与比较，操作性强等特点。
[Abstract]:In the background of today's global economy is facing a financial crisis, Chinese economic development is facing a serious problem of "transformation", and high technology has become an important pillar of China's current social and economic transformation and sustainable development. Due to the characteristics of high-tech enterprises with high cost and high risk, it must rely on venture capital the "power" to the rapid development. At the same time, the high-tech enterprises and high growth characteristics but also attract a large number of venture capital, especially in the gem launch success China "NASDAQ" said later, to high-tech enterprises, venture capital has accounted for more than all of China's venture capital total 80%.
How to use risk investment project evaluation methods of scientific effective high-tech enterprises has become the urgent need of our country risk investment problem. Therefore, this paper through the analysis of characteristics of high tech risk investment project, the related research on the decision-making model and the model application, has a very important theoretical and practical significance for accelerate the development of high tech risk investment in our country.
This article on the current status of the full research foundation, through in-depth analysis of the investment decision of venture capital project of high-tech enterprises and venture capital projects, and in-depth analysis of characteristics of risk investment projects in different stages of development of high-tech enterprises put forward after the seed stage and start-up stage, the evaluation index system of high-tech venture investment project technology enterprise growth and expansion stage. In order to optimize the evaluation index system, this paper designs questionnaire and risk to investors get related survey data, and using the method of mathematical statistics and two tuple is obtained after the optimization of the evaluation index system.
The recent hot research field based on decision evaluation system to evaluate the two tuple linguistic information of high-tech enterprises after optimizing the risk of investment projects, and weighted from two yuan to two yuan of semantic semantic average operator, T-OWA operator and two tuple grey theory and in-depth study combined with the evaluation of the two tuple methods of the three different aspects, and puts forward the prior weight and posterior weights of the obtained weights of decision-makers, with a strong innovation.
Finally, combining with the actual case of venture capital in high tech enterprises to test the index system and evaluation model, shows that the index system and evaluation model to a more comprehensive and comprehensive reflect the high-tech enterprises of the advantages and disadvantages of the large amount of information, easy to analysis and comparison, the characteristics of strong operability.

【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.48;F276.44

【参考文献】