私募股权投资纵横物流案例研究

发布时间：2018-01-08 19:00

本文关键词：私募股权投资纵横物流案例研究　出处：《哈尔滨商业大学》2014年硕士论文　论文类型：学位论文

【摘要】：从20世纪80年代开始,私募股权投资基金在全球范围内得到了迅速发展。近年来,国际上许多知名私募股权投资基金不断加快进入我国私募股权投资市场的步伐,同时,私募股权投资在中国已经不再神秘,像十几年前的华尔街一样,中国的投资界也开始热衷于对私募股权,尽管私募股权投资在我国发展有一定时间,但依旧不完善。私募股权投资作为一种有效的金融工具,以其灵活、专业的独特优势,不仅可以满足企业不同发展阶段的融资需求,完善公司治理结构,而且在高新技术创新、多层次资本市场培育以及产业结构升级等方面都具有十分重要的作用。它发展能优化市场资源配置,有利于企业的融资渠道的拓宽、并且可以整合优质资源上市,促使金融市场稳步发展。中国的金融市场一直处于发展过程中,投融资之间信息不对称,信贷是主要的投融资渠道,但是许多企业不符合信贷要求的条件或者对于此种方式有所顾忌。私募投资应该是金融市场的一种补充,但现在如何获得私募的投资值得研究,而且中国的私募本身也面临很多问题,中国8次叫停IPO,给私募股权的退出渠道也造成一定影响。文章以私募股权投资基金投资纵横物流公司为例,通过对纵横物流公司所处行业及外部情况,竞争优势,财务状况等多方面的分析为基础,站在私募股权的角度上对投资该公司进行动因分析；并对公司的风险防范措施进行了分析评价做出纵横物流的财务指标分析,评估PE投资于纵横物流公司决策的正确性与否,探索研究私募股权基金对投资项目选择的决策依据,从而优化私募投资,提高投资的胜算。通过对私募股权投资纵横物流公司的思考。信息不对称下价值评估的不确定性,并提出如何充分利用对赌协议以及退出方式加强私募投资的胜算,对完善私募股权投资从法律、政策、投资阶段和退出渠道选择等方面提出意见。为进一步完善私募股权投资提出合理化建议。
[Abstract]:From the beginning of 1980s, private equity investment fund has been developing rapidly in the global range. In recent years, many international well-known private equity investment funds to accelerate the entering of China's private equity investment market, at the same time, private equity investment in Chinese is no longer mysterious, like ten years ago as Wall Street, Chinese investment community also keen on private equity, although private equity investment for a period of time in the development of our country, but still not perfect. Private equity investment as an effective financial instrument, with its unique advantages of flexible, professional, can not only meet the financing needs of enterprises in different stages of development, improve the corporate governance structure, but also in high technology innovation plays an important role in multi-level capital market development and the upgrading of the industrial structure and so on. It can optimize the market allocation of resources, favorable To broaden the financing channels for enterprises, and the integration of high quality resources market, the financial market developed steadily. China financial market has been in the process of development, the information asymmetry between investment and financing, credit is the main financing channels, but many enterprises do not meet the requirements of credit conditions or scruples for private investment should be this way. It is a supplement to the financial market, but now how to get private investment is worth studying, and the private Chinese itself is also facing a lot of problems, Chinese 8 times to stop IPO, private equity withdrawal channels will also be affected.
The private equity investment fund investment and logistics company as an example, on the aspect of logistics industry competition by the company and the external environment, advantage, financial analysis and other aspects of the base station in the private equity perspective on the motivation analysis of the investment of the company; and the company's risk prevention measures are analyzed and evaluated make analysis of financial indicators and logistics, correct evaluation of PE investment in the aspect of logistics decision or not, explore options for private equity fund research on the investment project decision-making basis, so as to optimize the private investment, improve the investment chance. By thinking of the private equity investment and logistics company. The evaluation value is not under asymmetric information how to make full use of uncertainty, and puts forward the strengthening of private investment and the agreement on gambling odds exit, to perfect the private equity investment from the legal, policy, investment Suggestions on the selection of stage and exit channel are put forward, and the rationalization proposals for further improvement of private equity investment are put forward.

【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51

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