我国风险投资退出渠道的研究
发布时间：2019-06-18 13:55
【摘要】：风险投资是一种高风险、高收益、专业化的投资组合。往往以追逐利益为最终目标，所以风险投资如何成功退出初创企业成为风险投资能否获利的关键。中国风险投资的退出机制存在多方面的问题，退出渠道，资本市场的环境支持以及政府法律相应的配套措施欠缺，风险投资人才的匮乏等等都制约着风险投资退出，影响其进行下一个项目的投资。总的说来，由于风险投资的退出渠道较窄，退出方式不够灵活，风险投资从中国资本市场退出还是很困难的。 当前危机下如何通过资本市场退出，中国的风险投资如何积极寻找退出的新出路成为重要问题。因此，本文围绕存在的问题及解决措施展开论述。中国应当建立以风险资本退出市场为核心的多层次风险资本市场，建立包括主板、创业板、场外交易体系和原始的股权市场在内的资本市场体系，才能更好地发展风险投资业，，为中小企业、民营企业和初创企业，尤其是科技性高成长性企业提供便利的融资渠道。 本文围绕风险投资的退出及拓宽渠道进行分析。风险投资如何成功退出初创企业成为风险投资能否获利的关键。风险投资的退出在整个运作体系中处于核心地位。风险投资的目的不是控股，无论成功与否，退出是风险投资的必然选择，否则无法进入新一轮投资，而资金失去流动性就意味着失去了生命。
[Abstract]:Venture capital is a high-risk, high-income, professional investment portfolio. It is often the ultimate goal of the pursuit of interest, so how to successfully withdraw the venture capital from the start-up is the key to the success of the venture capital. The exit mechanism of venture capital in China has many problems, such as the withdrawal of the channel, the environmental support of the capital market, the lack of the corresponding supporting measures of the government's law, the lack of the venture capital, and so on. In general, due to the narrow exit channel of venture capital, the exit method is not flexible enough, the venture capital is still difficult to exit from the Chinese capital market. How to exit from the capital market under the current crisis, how to actively seek out the new way out of the venture capital of China becomes an important question Therefore, the paper is about the existing problems and the solutions to the problems. Statement. China should establish a multi-level venture capital market with venture capital withdrawal market as the core, and set up a capital market system, including the main board, the GEM, the off-site trading system and the original equity market, in order to better develop the venture investment industry and to provide the small and medium-sized enterprises Industry, private enterprises and start-ups, especially high-tech, high-growth enterprises, provide convenient financing channels The paper is about the exit of venture capital and the channel of extension. Line analysis. How venture capital successfully exits the start-up to become a venture capital to make a profit The key to that. The exit of venture capital is in the core of the whole system of operation. The purpose of venture capital is not to hold, whether it is successful or not, exit is the inevitable choice of venture capital, otherwise it is not possible to enter a new round of investment, and the loss of capital means losing
【学位授予单位】：河北大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.48
本文编号：2501538
[Abstract]:Venture capital is a high-risk, high-income, professional investment portfolio. It is often the ultimate goal of the pursuit of interest, so how to successfully withdraw the venture capital from the start-up is the key to the success of the venture capital. The exit mechanism of venture capital in China has many problems, such as the withdrawal of the channel, the environmental support of the capital market, the lack of the corresponding supporting measures of the government's law, the lack of the venture capital, and so on. In general, due to the narrow exit channel of venture capital, the exit method is not flexible enough, the venture capital is still difficult to exit from the Chinese capital market. How to exit from the capital market under the current crisis, how to actively seek out the new way out of the venture capital of China becomes an important question Therefore, the paper is about the existing problems and the solutions to the problems. Statement. China should establish a multi-level venture capital market with venture capital withdrawal market as the core, and set up a capital market system, including the main board, the GEM, the off-site trading system and the original equity market, in order to better develop the venture investment industry and to provide the small and medium-sized enterprises Industry, private enterprises and start-ups, especially high-tech, high-growth enterprises, provide convenient financing channels The paper is about the exit of venture capital and the channel of extension. Line analysis. How venture capital successfully exits the start-up to become a venture capital to make a profit The key to that. The exit of venture capital is in the core of the whole system of operation. The purpose of venture capital is not to hold, whether it is successful or not, exit is the inevitable choice of venture capital, otherwise it is not possible to enter a new round of investment, and the loss of capital means losing
【学位授予单位】：河北大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.48
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