我国风险投资发展状况及本土创投机构未来发展模式研究

发布时间：2018-03-11 10:14

本文选题：风险投资　切入点：融增　出处：《吉林财经大学》2013年硕士论文　论文类型：学位论文

【摘要】：在2012年5月15日华盛顿举行的第十四届全球创业投资大会上，世界银行行长罗伯特·佐利克在演讲中表示，“对于风险投资机构来说，未来机会存在于利与益并行之中，风险投资可以帮助企业成长，雇佣更多的工人，提高生产效率。同时，风险投资也可以成为社会变革的强大驱动力，，帮助消除贫困，为社会变革带来希望。” 风险投资是创业企业的重要融资途径，是社会发展和经济增长的重要驱动力量。目前，我国风险投资进入高速发展阶段，随着创业活动的日益增多，风险投资影响力的增强，风险投资的相关问题受到越来越多人的关注。为了保证风险投资充分发挥其作用，为创业企业提供更多的帮助，有必要细致研究风险投资的作用机制、成功模式，促进其规范、健康的发展。良好的风险投资运行模式，是创业企业成长和发展的前提，也是风险投资机构实现自身增值的前提。我国风险投资行业目前存在着很多问题，其发展偏离了其应有的轨道。我国的风险投资机构投机问题严重，大多机构在争夺Pre-IPO项目，而对于早期的创业企业却很少进行投资。一方面使真正需要扶持的初创企业、科技型中小企业很难找到投资者，融资难题进一步加剧。另一方面，创投机构只关注被投企业何时上市，而忽略了对企业投资后的增值服务。由于IPO退出受阻，创投机构退出无门，影响其投资收益、资本循环，以及以后的资金募集等一系列活动。风险投资在我国仅仅有20几年的历史，其发展还不是很成熟。近年来，风险投资的实践经验表明，风险投资还有很大的发展空间，它将会成为影响经济的重要力量之一。风险投资已经对我国的创业企业、高科技行业以及创业板产生了很大的影响，但如何充分发挥其作用，还是一个不断总结、探索的过程。风险投资是相对国际化的一个行业，由于我国经济和社会环境的不同，使得我国风险投资在发展中遇到很多问题。体制、法规的不健全，环境的不规范等多个原因，阻碍了我国风险投资行业的健康发展。为了使我国风险投资更好的发挥其作用，扶持更多的创业企业，同时也帮助本土创投机构的壮大与成长。本文首先分析了风险投资的特征及作用。然后分析了我国风险投资的发展状况及存在的问题。其次分析了我国风险投资机构目前面临的形势与挑战。最后根据我国风险投资发展状况及存在的问题，以充分发挥风险投资作用为目标，结合国际成功发展模式与中国风险投资特有的发展特点，针对风险投资的运作过程，研究我国风险投资未来发展模式。
[Abstract]:In May 15th 2012, at the 14th Global Venture Capital Conference in Washington, World Bank President Robert Zoellick said in a speech, "for venture capital firms, there is a future opportunity in both profit and profit. Venture capital can help companies grow, hire more workers and improve productivity. It can also be a powerful driver of social change, helping to eradicate poverty and bring hope for social change. " Venture capital is an important way of financing for venture capital enterprises and an important driving force for social development and economic growth. At present, venture capital in China has entered a stage of rapid development, with the increasing number of entrepreneurial activities and the increasing influence of venture capital. More and more people pay attention to the related problems of venture capital. In order to ensure that venture capital can give full play to its role and provide more help for the venture capital, it is necessary to study the mechanism, successful model and standard of venture capital carefully. Healthy development. A good operation mode of venture capital is the premise of the growth and development of the venture capital enterprise, but also the premise for the venture capital organization to realize its own value-added. At present, there are many problems in the venture capital industry of our country, and its development deviates from its proper track. The venture capital institutions in our country have serious problems of speculation, and most of them are competing for Pre-IPO projects. On the one hand, it makes it difficult for small and medium-sized technology enterprises to find investors, and the financing problem is further aggravated. Venture capital institutions only pay attention to when the enterprises will be listed, but ignore the value-added services after they invest in the enterprises. As the IPO exit is blocked, the venture capital institutions exit without a door, which affects their investment returns and capital cycles. And subsequent fund-raising and other activities. Venture capital has only a history of more than 20 years in our country, and its development is not very mature. In recent years, the practical experience of venture capital shows that there is still a lot of room for development of venture capital. It will become one of the important forces affecting the economy. Venture capital has had a great impact on the entrepreneurial enterprises, high-tech industries and the gem in our country, but how to give full play to its role is still a continuous summary. The process of exploration. Venture capital is a relatively international industry. Because of the different economic and social environment in our country, the venture capital in our country has encountered many problems in its development. The system and regulations are not perfect. The nonstandard environment and other reasons hinder the healthy development of venture capital industry in China. In order to make China's venture capital play its role better and support more entrepreneurial enterprises, At the same time, it also helps the growth and growth of local venture capital institutions. This paper first analyzes the characteristics and functions of venture capital, then analyzes the development of venture capital in China and the existing problems. Secondly, it analyzes the problems of venture capital in China. Finally, according to the development of venture capital in China and the existing problems, In order to give full play to the role of venture capital, combined with the international successful development model and the unique development characteristics of Chinese venture capital, the future development model of venture capital in China is studied in view of the operation process of venture capital.
【学位授予单位】：吉林财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.48

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