我国私募股权投资基金的行业选择行为研究

发布时间：2018-01-16 16:18

本文关键词：我国私募股权投资基金的行业选择行为研究　出处：《复旦大学》2012年硕士论文　论文类型：学位论文

【摘要】：私募股权投资基金在中国发展近30年来,历经外国私募股权投资基金在市场上呼风唤雨,到我国本土私募股权投资基金蹒跚起步,再到如今人民币基金逐渐占据市场主导地位,我国私募股权投资基金行业可谓与中国经济一同发展壮大。在中国市场这持续了将近30年的投资历练中,无论是国内的人民币私募股权投资基金,还是国外的私募股权投资基金,都在摸索中逐渐形成了一些在中国市场中独有的特色。特别是在行业选择行为上,和西方发达国家私募股权投资基金以并购基金为主、主要投资于高新技术产业的投资策略不同,我国私募股权投资基金一直以来主要是以成长型基金的方式投资于传统行业。此外,还有诸多有别于国外私募股权投资市场的现象,值得我们去关注与探究。私募股权投资基金的投资行为是在不确定条件下做出的投资决策,所以结合行为金融学理论的观点,来研究我国私募股权投资对行业的选择行为,具有一定的现实意义和理论价值。本文主要是以广义私募股权投资基金为研究对象,结合行为金融学理论观点,对我国私募股权投资基金在进行行业选择时的行为进行探索性研究,揭示了其在不确定条件下所做出的投资选择的成因,以及该投资行为对行业发展所产生的影响。只有明晰了我国私募股权投资基金进行行业选择背后的理论依据,才能制定合理的政策法规,引导与利用私募股权投资发现价值与创造价值的特性,促进我国经济结构化调整的目标早日实现。本文第一章介绍了私募股权投资基金的基本内容以及其在国内外的发展状况和特点。第二章分析了私募股权投资基金对我国经济结构调整的意义。第三章对国内外相关的私募股权投资研究进行概述与评价。第四章简述了私募股权基金进行行业调研的内容与流程。第五章运用行为金融学相关理论对我国私募股权投资的行业选择行为进行分析与解释。第六章总结了我国私募股权投资基金行业发展的不足并提出意见建议。
[Abstract]:Private equity funds in China nearly 30 years of development, after foreign private equity funds in the market call, to China's local private equity funds falter start. Now that RMB funds gradually occupy the dominant position in the market, the private equity fund industry in China can be said to be growing with the Chinese economy. This has lasted nearly 30 years of investment experience in the Chinese market. Both domestic private equity funds and foreign private equity funds have gradually formed some unique characteristics in the Chinese market, especially in the behavior of industry selection. Compared with the western developed countries, the private equity investment funds are mainly M & A funds, mainly invested in high-tech industry investment strategy is different. Private equity investment funds in China have been mainly invested in traditional industries in the form of growth funds. In addition, there are many different from the phenomenon of foreign private equity investment market. The investment behavior of private equity investment fund is an investment decision made under the uncertain conditions, so it combines the viewpoint of behavioral finance theory. It is of practical significance and theoretical value to study the choice behavior of private equity investment in China. This article mainly takes the generalized private equity investment fund as the research object, unifies the behavior finance theory viewpoint, carries on the exploratory research to our country private equity investment fund when carries on the profession choice behavior. It reveals the causes of investment choices made under uncertain conditions. As well as the impact of the investment behavior on the development of the industry. Only by clarifying the theoretical basis behind the industry selection of private equity funds in China can we formulate reasonable policies and regulations. Guiding and utilizing private equity investment to discover the characteristics of value and value creation. The first chapter introduces the basic contents of private equity investment fund and its development status and characteristics at home and abroad. Chapter two analyzes private equity investment fund. Chapter three summarizes and evaluates the research on private equity investment at home and abroad. Chapter 4th briefly describes the content and process of private equity fund industry investigation. Chapter 5th: the application of private equity fund. Chapter 6th summarizes the shortcomings of the development of private equity fund industry in China and puts forward some suggestions.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.5

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