中国式私募股权基金发展理论、风险管控与前瞻

发布时间：2018-03-25 20:02

本文选题：私募股权基金　切入点：创业风险投资　出处：《辽宁师范大学》2014年硕士论文

【摘要】：私募股权基金（Private Equity Fund，简称为PE），创立于美国20世纪早期。创业投资企业—ARD，，于1946年诞生在美国，成为现代意义上的第一家创业投资公司。随后美国通过相关法案，开始开放银行和金融公司投资小型企业，正式走上了私募股权基金的道路。美国发展最迅猛的时期是80年代，资本市场上流行高收益债券融资，大力地推进了私募股权基金的发展进程。到了90年代，我国改革开放加快了社会主义市场经济发展的步伐，我国学术界开始认识到私募股权基金，通过了解与借鉴，私募股权基金逐步闯入我们的视角。截止到2009年，我国创业风险投资机构数在发改委备案已经超过400家，迅速成为中国投资业的主力。当中国的市场经济越来越好，产业的创新能力越被重视，激励人才发展原动力，提升国家综合实力，那么私募股权基金就成了改善中小企业融资瓶颈的关键。中国本土的经营模式已经被大家熟知的时候，私募股权基金在长足发展后发现许多问题。主要是由于引进的商业模式并不是很适合中国的国情，我们应该经过长时间的实践与摸索，研究出一套完全属于我国行情的经营模式。所以，中国式私募股权基金的出现具有现实意义。本文以中国私募股权基金的发展为轴心，系统的讲述了私募股权基金的概念、内涵、运作流程、风险管控及前瞻问题。对于阻碍私募股权基金未来发展的道路提出了建设性的意见。全文共分为四部分：第一部分写的是私募股权基金的概述，重点讲述私募股权基金的概述、业务范围及组织形式。第二部分写的是中外私募股权基金的发展比较与经验借鉴。通过结合国际的经验及数据，分析本土经营与发达国家存在的差距。第三部分写的是私募股权基金的风险管理与防范。通过适当的防范措施来化解列举的七种风险。剖析了不应该单单只做事中、事后的风险处理，最重要是宏观风险预警。第四部写的是中国私募股权基金发展前瞻。阐释了中国私募股权基金现阶段需要的市场定位、内部控制机制及外部建设环境等紧待解决的问题。
[Abstract]:Private Equity Fund (Private Equity Fund, referred to as PE), founded in the early twentieth Century. Venture capital investment enterprises - ARD, was born in America in 1946, became the first modern venture capital company. Then the United States passed the relevant bill to open bank and financial companies to invest in small businesses, formally embarked on a private equity fund roads. The United States in the rapid development period is 80s, capital market popular high-yield bond financing, and vigorously promote the development of private equity funds. In 90s, China's reform and opening up the development of socialist market economy, our country academic circles begin to recognize the private equity fund, through the understanding of with reference to private equity funds gradually into our perspective. By the end of 2009, the number of venture capital institutions of our country in the development and Reform Commission has more than 400, quickly become China's investment industry. When the main China the market economy more and better, the innovation ability of the industry more attention, the original motivation of talent development, enhance the comprehensive national strength, so the private equity fund has become the key to improve the financing bottleneck of small and medium sized enterprises. Chinese local business model has been known, the private equity fund found a lot of problems in the development. The main is due to the introduction of the business model is not very suitable for Chinese conditions, we should explore and practice through a long time, the business model of a complete set of China belongs to the market. Therefore, there is of practical significance China type of private equity funds.
In this paper, the development of China private equity fund as the axis, described the concept of private equity funds, connotation, operation process, risk control and prospective problems. For the future to hinder the development of private equity fund road and put forward constructive suggestions. The full text is divided into four parts: the first part is an overview of the writing of private equity the fund's focus on the overview of private equity funds, business scope and form of organization. The second part is the comparison and experience of development of foreign private equity funds. Through a combination of international experience and data, analyzes the gap in local business with developed countries. The third part is the risk prevention and management of private equity funds seven. Risk list to resolve through appropriate preventive measures. The analysis should not only work, risk treatment afterwards, the most important is the macro risk warning fourth. The Ministry is writing the prospect of China's private equity fund development. It explains the current market positioning, internal control mechanism and external construction environment of China's private equity fund.

【学位授予单位】：辽宁师范大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51

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