对我国生物制药上市公司投资风险影响因素的研究

发布时间：2018-04-10 07:28

本文选题：投资风险　切入点：风险投资　出处：《太原科技大学》2012年硕士论文

【摘要】：生物制药行业是高新技术行业中发展最为迅速的行业之一，具有诱人的投资前景和巨大的投资潜力。但是，生物制药项目作为技术高度密集的高新技术项目，具有技术要求高、资金占用大、不确定因素多的特点，对其投资的过程存在许多难以预测的风险，一些企业在项目投资过程中由于忽视了风险评价或者评价方法不当而蒙受了巨额损失。为了降低投资风险、减少损失，就必须在投资前准确地预计风险。因此，运用科学的项目投资风险评价方法，为投资者正确、客观地评价我国生物制药产业的投资风险、更好地选择投资领域和投资时机提供理论依据是十分必要的。本文主要从以下几个方面进行研究：首先，详细介绍了研究背景、研究意义、国内外研究现状、主要内容及研究方法；其次，对我国生物制药上市公司投资风险外部影响因素进行了量化分析。结合我国生物制药业和风险投资业的特点，构建了我国生物制药上市公司投资风险外部影响因素体系。在此体系的基础上，，将AHP法和模糊评价法相结合，确定各影响因素的权重，并对各影响因素的现状进行评价；再次，对我国生物制药上市公司投资风险内部影响因素进行了研究。文章结合上市公司内部影响因素的特点，从风险和收益的角度出发，构建了投资风险评价指标体系。文章以我国31家主营生物制药的上市公司为研究样本，利用主成分-聚类分析法，对样本公司的投资风险进行综合评价，并按照投资风险大小将这些公司进行了排序并简单分类；最后，提出我国生物制药业投资环境中存在的问题，并针对这些问题提出防范对策及建议。
[Abstract]:Biopharmaceutical industry is one of the most rapidly developing industries in high-tech industry, which has attractive investment prospect and huge investment potential.However, as a highly technology-intensive high-tech project, biopharmaceutical projects have the characteristics of high technical requirements, large capital occupation, and many uncertain factors. There are many unpredictable risks to the investment process of biopharmaceutical projects.Some enterprises have suffered huge losses because of neglecting risk evaluation or improper evaluation methods in the process of project investment.In order to reduce investment risk and reduce loss, risk must be accurately predicted before investment.Therefore, it is necessary for investors to evaluate the investment risk of biopharmaceutical industry correctly and objectively, and to choose the investment field and the investment opportunity better by using the scientific evaluation method of project investment risk.This article mainly carries on the research from the following several aspects: first, has introduced the research background, the research significance, the domestic and foreign research present situation, the main content and the research method in detail; secondly,The external factors influencing the investment risk of biopharmaceutical listed companies in China are analyzed quantitatively.Based on the characteristics of biopharmaceutical industry and venture capital industry in China, a system of external factors influencing the investment risk of biopharmaceutical listed companies in China is constructed.On the basis of this system, the AHP method and fuzzy evaluation method are combined to determine the weight of each influencing factor, and to evaluate the current situation of each influencing factor.This paper studies the internal influencing factors of investment risk of biopharmaceutical listed companies in China.Based on the characteristics of internal influencing factors of listed companies, this paper constructs an index system of investment risk evaluation from the point of view of risk and income.In this paper, 31 listed biopharmaceutical companies in China are taken as the research samples, and the investment risk of the sample companies is comprehensively evaluated by principal component cluster analysis.According to the investment risk, these companies are sorted and classified simply. Finally, the problems existing in the investment environment of biological pharmaceutical industry in China are put forward, and the countermeasures and suggestions are put forward to solve these problems.
【学位授予单位】：太原科技大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F426.72;F832.51;F224

【参考文献】