信托型私募股权投资运作机制研究

发布时间：2018-05-31 22:17

本文选题：信托公司 + 信托型私募股权投资　；参考：《对外经济贸易大学》2016年硕士论文

【摘要】：经济的发展离不开金融产业的发展,国内经济正处于转型的关键时期,各项事业的开展都需要足够的资金支持。传统依靠政府扶持资金的发展模式已经不能适应现代市场经济的发展,需要借助市场的力量实现国内资本的流通。金融市场是企业融资的重要平台,私募股权投资则是非上市企业融资的重要途径,也是投资者投资的重要手段。近几年已经有学者开始关注信托型私募股权投资,国内也出现了一些相关的研究文献。健全的信托管理制度体系是信托型私募股权投资发展的前提条件。目前国内已经构建了较为完善的信托运作及监管法律体系,但在信托运作机制建设方面还需要进一步完善。随着国内金融环境的变化,私募股权信托运作机制也要与时俱进。本人认为国内私募股权投资运作机制较几年前已经发生了很多变化和创新,因此认为此课题的研究还是非常必要的。本文以信托型私募股权投资运作机制为研究对象,以国内金融环境为背景深入分析了当前私募股权投资的运作机制现状。此次课题研究的主要目标是通过对私募股权投资信托运作机制的研究,实现运作机制的创新发展。本文主要以案例研究、统计分析、文献查阅等方法进行课题研究,论文写作期间查阅文献、收集国内私募股权投资信托发展的案例资料、统计资料,为本文研究提供了有力的论据材料。本文先介绍了此次课题研究的背景、意义、研究内容、研究方法、国内外研究现状,就信托型私募股权投资的概念做了详细阐述,详细分析研究了国内信托型私募股权投资的运作机制,并以中信信托的三个信托计划为案例,分析了这三个案例运作机制的创新之处。受中信信托运作机制案例的启发,最后对国内信托型私募股权投资运作提出了几点自己的看法。本文在撰写期间以中信信托三个时期的私募股权投资信托案例为研究对象,再现了信托型私募股权投资运作发展的变迁。中信信托在中信乾景恒润II期投资基金集合信托计划中通过设立全资子公司的方式运作信托计划,本人认为是非常值得广泛推广的、能有效控制信托风险的运作机制。坚持运作模式创新是实现国内信托运作水平提升的关键。论文最后对私募股权投资信托运作模式创新提出的建议为:发展伞形私募股权信托,推动创业专项信托计划发展;加强银信、政信新合作,提高信托专业性;重视发展“互联网信托”,发展具有互联网思维模式的私募股权信托计划;打造适应国际化发展的运作管理团队,提高国内信托运作水平。
[Abstract]:The development of economy is inseparable from the development of financial industry. The traditional development mode which depends on the government support fund can not adapt to the development of the modern market economy and needs the help of the market forces to realize the circulation of domestic capital. Financial market is an important platform for enterprise financing, private equity investment is an important way for non-listed enterprises to finance, it is also an important means for investors to invest. In recent years, some scholars have begun to pay attention to trust private equity investment. A sound trust management system is a prerequisite for the development of trust private equity investment. At present, China has built a relatively perfect trust operation and supervision legal system, but the trust operation mechanism construction needs to be further improved. With the change of domestic financial environment, private equity trust operation mechanism should also keep pace with the times. I think the operation mechanism of private equity investment in China has changed and innovated a lot compared with a few years ago, so it is very necessary to study this subject. In this paper, the operating mechanism of trust private equity investment as the research object, with the domestic financial environment as the background of in-depth analysis of the current operating mechanism of private equity investment. The main goal of this research is to realize the innovation and development of the operation mechanism of the private equity investment trust through the research of the operation mechanism of the private equity investment trust. This paper mainly uses the methods of case study, statistical analysis, literature review and so on. During the writing of the paper, we consult the literature, collect the case data of the development of the private equity investment trust in China, and collect the statistical data. This paper provides a powerful argument material for this study. This paper first introduces the background, significance, research content, research methods, research status at home and abroad, and describes the concept of trust private equity investment in detail. The operation mechanism of domestic trust private equity investment is analyzed in detail, and the innovation of these three operation mechanisms is analyzed with the three trust plans of Citic Trust as a case study. Inspired by the case of CITIC Trust operation mechanism, this paper puts forward some views on the operation of domestic trust private equity investment. During the writing period, this paper takes the case of private equity investment trust in three periods of CITIC Trust as the research object, and reproduces the changes of the operation and development of trust private equity investment. In the CITIC Qianjingheng run II investment fund collective trust plan, the operation of the trust plan through the establishment of a wholly owned subsidiary is very worthy of extensive promotion, and can effectively control the operational mechanism of trust risk. Persisting in innovation of operation mode is the key to improve the level of domestic trust operation. Finally, the paper puts forward some suggestions for the innovation of private equity investment trust mode: developing umbrella private equity trust, promoting the development of special trust plan, strengthening the new cooperation between Yinxin and Zhengxin, and improving the trust specialty. Attach importance to the development of "Internet trust", develop the private equity trust plan with Internet thinking mode, build the operation management team to adapt to the international development, and improve the operation level of domestic trust.
【学位授予单位】：对外经济贸易大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F832.51;F275

【相似文献】