我国政府创业投资引导基金对创业投资企业遴选体系构建的研究

发布时间：2018-03-05 18:10

本文选题：引导基金　切入点：投资遴选体系　出处：《对外经济贸易大学》2017年硕士论文　论文类型：学位论文

【摘要】：近两年来,随着李克强总理提出“大众创业、万众创新”的号召,我国引导基金和创业投资企业的规模均出现了爆发式增长。根据清科研究中心统计,2015年我国新设立的引导基金共297支,同比上年增长了183%;新增基金规模约1.5万亿元,同比上年增长了422%。引导基金已经成为创业投资企业最大的机构投资者。同时,新的创业投资企业大量涌现,尤其是众多知名创投机构合伙人新设立了很多创业投资企业。在此背景下,政府引导基金如何筛选创业投资企业,成为重要研究课题,基于历史业绩的创业投资企业评估体系,并不适用于大量新设立的创业投资企业。因此,构建一个决策科学、风险可控、流程高效的创业投资企业遴选体系不仅可实现引导基金的政策目标,也可平衡创业投资企业市场化运作的诉求。本文通过研究学习相关参考文献,结合过往实践工作经验,通过构建引导基金遴选创业投资企业的体系,希望能够对引导基金的投资工作提供一定的参考价值和借鉴意义。据此,本文通过梳理优秀创业投资者应具有的基本素质条件,并逆向研究国内外创业投资企业的管理经验和评价核心团队人员的方法,结合政府引导基金所肩负的特殊使命和作用,设计了针对创业投资企业管理团队的“10要素评价模型”,模型从团队人员的基本素质到经验要求两个层面共10个要素来对管理团队进行客观评价。鉴于该模型为引导基金投资前的评价模型,故本文通过相关性分析和logistic回归分析,证实该模型评价结果与2016年度创业投资企业投资业绩排名具有强相关性。
[Abstract]:In the past two years, with Premier Li Keqiang's call for "mass entrepreneurship, mass innovation," According to the statistics of the Qingke Research Center, in 2015, there were 297 new pilot funds in China, an increase of 1833 yuan over the previous year, and the scale of the new funds was about 1.5 trillion yuan. The fund has become the largest institutional investor in venture capital enterprises. At the same time, new venture capital enterprises have sprung up in large numbers. In particular, many new venture capital enterprises have been set up by partners of many well-known venture capital institutions. Under this background, the government guides the fund to select venture capital enterprises and become an important research topic, an evaluation system of venture capital enterprises based on historical achievements. It is not suitable for a large number of newly established venture capital enterprises. Therefore, the establishment of a venture capital enterprise selection system with scientific decision-making, controllable risk and efficient process can not only achieve the policy goal of guiding the fund. It can also balance the demands of venture capital enterprises' market-oriented operation. By studying the relevant references and combining the past practical work experience, this paper constructs a system to guide the fund to select venture capital enterprises. The author hopes to provide some reference value and significance for guiding the investment work of the fund. Based on this, this paper combs the basic quality conditions of excellent venture investors. And reverse research on the management experience of domestic and foreign venture capital enterprises and evaluation of the core team, combined with the special mission and role of the government to guide the fund, This paper designs a "10-factor evaluation model" for the management team of venture capital enterprise. The model includes 10 elements from the basic quality of the team member to the requirement of experience to evaluate the management team objectively. The evaluation model of guide fund before investment, Therefore, through the correlation analysis and logistic regression analysis, it is proved that the evaluation results of this model have strong correlation with the investment performance ranking of venture capital enterprises in 2016.
【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】：2017
【分类号】：F279.2;F812.5

【相似文献】