CN公司铁锌矿投资项目的风险控制

发布时间：2018-04-25 12:41

本文选题：股权投资 + 风险控制　；参考：《吉林大学》2013年硕士论文

【摘要】：CN电力开发公司原主营业务集中在火电项目的股权投资，2006年，由于国家宏观形势的改变，公司更名为CN投资集团有限责任公司，同时将主要投资方向由电力产业逐渐向其他行业拓展，降低电力投资业务在集团总投资中所占的比重。投资范围扩展到金融、房地产、能源开发，高科技生物制药技术等方面。黑龙江CN投资管理公司是黑龙江CN投资集团下属分公司，主要投资方向是矿业与地产行业项目的开发。2010年，公司计划与民营公司合作以股权投资与债权投资相结合的方式组建东宁杨木沟铁锌矿项目，成立新的控股子公司。本文以此次项目为主要研究对象，以该项目公司从投资决策到投资后项目的经营管理等相关方面为主要研究内容。通过对CN投资管理公司铁锌矿项目的调查研究，论文从前期可行性调研开始，分别从经济评估、项目的投资决策程序、行业环境、技术市场、股权结构建立、经营管理过程、委托代理等各个方面分析其中可能存在的风险。进而，针对或有风险，制定相应的风险控制措施。内容针对规范投资决策程序与投资管理模式、规避行业风险、健全公司法人治理结构、完善各项管理制度以及通过调动代理积极性来降低道德风险等方面的风险防控做了较为深入的研究。在国企与民营企业两种企业管理模式的差异中寻求共同点，通过管理制度的建立，有效的防范以及控制股权以及债券投资后所伴生的风险，在保证国有资产的保值、增值的前提下，兼顾其他私营企业股东的权益与经济目标。进行投资决策以及进行项目管理承担了CN投资管理工资进行这次投资的主要风险。前者承担的风险主要来自投资前该项目是否具有可行性。后者承担的风险来自投资后对项目的管理。二者所承担的风险，是本文研究分析的重点。投资实施过程中的规范性，可行性，管理人员结构的合理性是CN投资管理公司在项目实施过程中的工作重点。在工程实施的每一个环节，要按投资决策程序进行，，将风险降到最低。监管与服务是项目管理的重点，从而将代理经营中的道德风险有效控制。此次投资行为作为公司正式进入矿业行业投资的敲门砖，其主要目的一方面是积累相关行业经验，成为公司培养管理人员的一个实验场所。另一方面， CN投资管理公司将新公司的建立视为首个有色金属矿业的投资项目，在运作良好的情况下，有利于CN投资管理公司流动资金的运作管理，为公司日后的发展壮大打下基础。本文的研究对CN投资管理公司此次股权投资项目以及日后的其他项目的发展具有一定的参考意义。
[Abstract]:The former main business of CN Electric Power Development Company concentrated on the equity investment of thermal power projects. In 2006, due to the change of the national macro situation, the company was renamed CN Investment Group Co., Ltd. At the same time, the main investment direction will be gradually expanded from the power industry to other industries to reduce the proportion of power investment business in the total investment of the group. Investment in finance, real estate, energy development, high-tech biopharmaceutical technology and so on. Heilongjiang CN Investment Management Company is a subsidiary of Heilongjiang CN Investment Group. Its main investment direction is the development of mining and real estate projects. In 2010, The company plans to cooperate with private companies to set up Dongning Yangmugou Iron and Zinc Mine Project in the form of equity investment and creditor's right investment, and set up a new holding subsidiary. This paper takes this project as the main research object, taking the project company from the investment decision to the post-investment project management and other related aspects as the main research content. Through the investigation and research on the iron and zinc mine project of CN Investment Management Company, the paper starts with the preliminary feasibility investigation, starting with the economic evaluation, the investment decision procedure of the project, the industry environment, the technology market, the establishment of the stock right structure, the management process. Principal-agent and other aspects of the analysis of the possible risk. Furthermore, the corresponding risk control measures are formulated for contingent risks. The content aims at standardizing investment decision-making procedure and investment management mode, avoiding industry risk, perfecting corporate governance structure, Improving the management system and reducing the moral hazard by arousing the enthusiasm of the agent have done a more in-depth study on risk prevention and control. Through the establishment of management system, effective prevention and control of the risks associated with equity and bond investment, to ensure the preservation of the value of state-owned assets, the paper tries to find common ground in the differences between the two management modes of state-owned enterprises and private enterprises. Under the premise of value-added, the interests and economic objectives of other private enterprise shareholders should be taken into account. Investment decision making and project management bear the main risk of CN investment management wage for this investment. The former risk mainly comes from the feasibility of the project before the investment. The latter risk comes from the management of the project after the investment. The risk that both bear, is the focal point of this article research and analysis. The standardization, feasibility and rationality of management structure are the key work of CN Investment Management Company in the process of project implementation. In every step of project implementation, investment decision-making procedure should be followed to minimize risk. Supervision and service is the key point of project management, thus the moral hazard in agency management can be effectively controlled. The main purpose of this investment behavior is to accumulate relevant industry experience and to become an experimental place for the training of managers. On the other hand, CN Investment Management Company regards the establishment of the new company as the first non-ferrous metal mining investment project, which is conducive to the operation and management of the working capital of CN Investment Management Company when it is working well. For the future development of the company to lay the foundation. Research on CN Investment in this thesis The management of the equity investment project and the development of other projects in the future has certain reference significance.
【学位授予单位】：吉林大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.1

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