【作者】 高蓉；

【导师】 谢科范；

【作者基本信息】 武汉理工大学 ， 管理科学与工程， 2007， 博士

【摘要】 中国风险投资业在二十世纪八十年代兴起,经历了九十年代的大起大落,如何在二十一世纪理性地发展,对促进新经济的形成具有重要的意义。本文系统研究了风险投资各个阶段的预警管理,运用风险理论、预警理论、结合实物期权等理论,对中国风险投资预警管理提出了自己的方法,构思了“风险投资预警管理软件”的功能模块;最后通过对一家风险投资公司的走访和调查,检验了本文提出的理论和方法。全文共分为七个部分:1、风险投资及其风险。分析了风险投资的特征,风险投资的风险,阐述了风险投资公司与风险企业的互动。2、风险投资预警管理的基本原理与方法。论证了风险投资预警管理的基本原理,也提出了自己的一些预警方法。3、风险投资筹资中的风险预警。比较分析了国内外风险投资的筹资途径和过程;提出了国内风险投资的筹资途径优化建议;建立并分析了筹资的风险指标体系,提出了筹资预警和预控的方法。4、风险投资中的投资风险预警。绘制了风险投资的投资过程中的风险图;运用实物期权的理论和方法对风险投资各阶段的风险进行预警:提出风险投资的投资风险预控方法。5、风险投资中的退出风险预警。概述了风险投资四种主要退出方式的风险,以及退出风险的征兆识别。建立了风险投资退出阶段的预警管理体系,提出了风险投资退出时的风险控制方法。6、风险投资预警管理计算机实现及其实证分析。根据风险投资不同阶段,设定预警指标及指标分析量化方法,通过与企业常用的办公软件接合,设计了风险投资预警管理软件模型。通过对一家风险投资公司的实证调查,提出将风险投资预警系统软件整合到其现有的软件中的建议。7、对全文进行总结,归纳创新点,并提出进一步研究的课题。更多还原

【Abstract】 Chinese venture capital industry started in the 1980’s and underwent the rise and fall in the 1990’s. It weighs a great lot for China to boost her new economy by studying how to develop venture capital industry rationally in 21st century. This research studies early-warning management in all the stages of venture capital. Using theories such as risk theory, early-warning theory and real-option theory etc. this research designs the main function modules of the early-warning management software. An empirical study was carried out to verify the theory & method proposed in this dissertation by visiting a venture company. When suggesting build in the venture capital early-warning management software into its daily used software, the venture capital company highly appraised this proposal. Hope this study will help local and foreign venture capital companies understand the Chinese venture capital industry better in both theoretical & practical ways. This research has 7 sections:Section 2 of this paper recaps the history of venture capital in China and in few developed countries and recaps VC management theory. It analyses the characteristics & risks of venture capital; it also describes the interactive between venture capital companies and venture capital enterprises.Section 3 defines the theory & method of venture capital early-warning management. It introduces the basic theories of venture capital early-warning management and considers some methods, too.Section 4 discusses the early-warning management in fund-raising phase of venture capital. It compares the fund-raising ways & procedures in China and abroad; optimizes fund-raising methods in China; sets up & analyzes the early-warning risk index; presents the methods of early-warning & pre-controlling management.Section 5 discusses the early-warning management in investment phase of venture capital. It present the risk atlas of venture investment; early warns the risks using real-option theory, puts forward the early-controlling management methods in this stage.Section 6 discusses the early-warning management in exit phase of venture capital. It lists the risks & risk symptoms of four main exit methods; builds the early-warning management system for this phase and puts forward the methods of early-warning & pre-controlling management in this stage.Section 7 summarizes the empirical study & presents the computer realization of the early-warning management system. It designs the main modules of early-warning management software and suggests build it in the daily used software of a venture capital company where the empirical study was carried.Section 8 concludes.更多还原