六安市工投公司项目引导基金运营效率研究

发布时间：2018-04-07 17:49

本文选题：六安工投　切入点：项目运营　出处：《安徽大学》2017年硕士论文

【摘要】：自1999年我国第一支政府引导基金成立以来,引导基金在解决企业融资难题,增强自主创新能力,促进经济发展方面发挥了重要作用。近年来,随着"双创"政策实施,我国政府引导基金数量不断增长。相关数据表明,截至2016年12月底,国内共成立901支政府引导基金,总规模已经超过2.3万亿元。2011年六安市工业投资发展有限公司(以下简称"六安工投")受六安市政府委托,设立了一支总规模为7亿元的政府引导型股权投资基金——六安市工投公司项目引导基金(以下简称"六安工投项目引导基金"),重点支持符合六安市政府产业投资导向的优质项目和工业企业。目前该基金已成为六安市供给侧结构性改革、促进战略性新兴产业项目发展、实现经济转型升级的重要推手。但同时基金也面临着市场化运作能力不强、投资回报率低、基金管理能力不足、退出渠道不畅等问题,处于一种低效率状态。如何管理好引导基金,提高运营效率是当前必须解决的关键问题。本文从五个方面对六安工投项目引导基金的运营效率进行研究。第一部分主要讨论六安工投项目引导基金的效率问题,探讨基金在推进当地创业企业发展、扩大财政资金杠杆作用、促进经济健康发展等方面的重要意义。第二部分重点讨论政府引导基金的运营管理模式与运营效率,以公共财政理论和委托代理理论为基础,分析政府如何最大限度地发挥引导基金对企业发展的促进作用,如何最充分地发挥市场机制的作用,提高基金的"融投管退"效率。第三部分根据六安工投项目引导基金的运营现状,分析基金运营效率与运营中存在的主要缺陷及成因。第四部分是案例分析,从案例中分析提高基金运营效率的基本经验。第五部分从融资效率、投资效率、管理效率和退出效率等方面提出提高基金运营效率的对策建议。
[Abstract]:Since the establishment of the first government-led fund in 1999, the guiding fund has played an important role in solving the financing problems of enterprises, enhancing the ability of independent innovation and promoting economic development.In recent years, with the implementation of the "double-innovation" policy, the number of government-led funds has been increasing.Relevant data show that by the end of December 2016, a total of 901 government-led funds had been set up in China, with a total scale of more than 2.3 trillion yuan. In 2011, Lu'an Industrial Investment and Development Co., Ltd. (hereinafter referred to as "Lu'an Industrial Investment") was commissioned by the Lu'an Municipal Government.A government-led equity investment fund with a total scale of 700 million yuan has been set up, the Project guidance Fund of Lu'an City Industrial Investment Corporation (hereinafter referred to as the "Lu'an Investment Project guidance Fund"), with a focus on supporting industrial investment in line with the Lu'an Municipal Government.Investment-oriented quality projects and industrial enterprises.At present, the fund has become an important driver of supply-side structural reform in Lu'an City, promoting the development of strategic emerging industry projects and realizing economic transformation and upgrading.But at the same time, the fund is faced with some problems, such as weak market-oriented operation ability, low return on investment, insufficient fund management ability, poor exit channel, and so on, so it is in a low efficiency state.How to manage and guide the fund well and improve the operation efficiency is the key problem that must be solved at present.In this paper, the operating efficiency of the project-guided fund is studied from five aspects.In the first part, the paper discusses the efficiency of the fund, discusses the important significance of the fund in promoting the development of local entrepreneurial enterprises, expanding the role of financial leverage, and promoting the healthy development of economy.The second part mainly discusses the operation management mode and operation efficiency of the government-guided fund. Based on the theory of public finance and principal-agent theory, it analyzes how the government can maximize the role of guiding fund to promote the development of enterprises.How to give full play to the role of market mechanism and improve the efficiency of the fund.The third part analyzes the main defects and causes of fund operation efficiency and operation.The fourth part is the case analysis, from the case analysis to improve the fund operation efficiency basic experience.The fifth part puts forward the countermeasures and suggestions to improve the efficiency of fund operation from the aspects of financing efficiency, investment efficiency, management efficiency and withdrawal efficiency.
【学位授予单位】：安徽大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.39

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