中小企业风险投资决策分析

【作者】 林文雷；

【导师】 张启銮；

【作者基本信息】 大连理工大学 ， 工商管理， 2001， 硕士

【摘要】 21世纪是信息工程和生物工程的世纪，信息技术特别是互联网的迅猛发展，延伸了人们的思维，开拓了人们的视野，使诺大的地球缩小成一个小村落，散布于世界各地的人们，坐在电脑前轻点几下鼠标，就能购买到远在异国他乡的商品已不是什么天方夜谭。所有这些都得益于高新技术高速的产业化进程。 风险投资作为资本市场对高新技术的领域的资本运作方式在西方发达国家（特别是美国）有了较长的历史，风险投资的迅猛发展对促进高技术产业化的进程起到了催化剂和推进器的作用，它对高新技术产业化过程的推动作用是有目共睹的。而在我国虽然风险投资目前得到了很大的发展，大家对它也越来越了解，但它的发展时间相对较短，各方面还不尽完善。对于高新技术中小企业而言，如何利用风险投资加快产业化进程，迅速把技术转化为生产力，是他们所关注的问题。本文拟通过对风险投资公司的风险投资决策分析，并结合实例做这方面的探讨。 本文分为四章，第一章讲风险投资的基础理论，通过这一章对风险投资的基本理论做较详细的了解，它主要包括风险投资的概念、特点和风险投资的三大要素：投资者、风险投资公司、风险企业。第二章讲风险投资公司的投资决策分析，它先讲风险投资的运作程序：募集风险投资、设立风险投资公司、项目的评价和选择、规划投资时间达成投资协议、风险的项目管理、风险投资的退出等一个投资周期过程；然后对风险投资的策略做成分析；最后对风险投资在投资的项目评估做出的评价做详细分析，它包括：风险投资评价决策程序、评价准则、不同企业阶段的投资评价考查因素、风险项目评价模型。这部分是本文的重点，通过这一章对风险投资的决策分析做较深入的探讨，目的使读者对风险投资的项目选择、运作、评价有较系统的了解。第三章也是本文的重点，它通过实例分析引进风险投资的国内中小高科技企业HB公司，令读者对风险投资决策分析有更进一步的了解。第四章是对于该项目的引进风险投资的效果 中小企业风险投资决策分析做出评估。更多还原

【Abstract】 2lth century to be centuries of information technology and bioengineening. Information technology, especially Internet expand rapidly. people has stretched thinking, has opened up people view. It makes such big the earth reduces to a small village. The people spreads from the world, sits lightly before computer, deck the mouse, can buy things from far foreign country, today is very commonly. All these all benefiting from new technology high speed marketlization.Venture capital as the capital market benefit for the new technology marketlization have a long history in West (specially in America).Venture capital promotes Highechnology marketlization as the incubate machine and catalyst effect. Although Venture capital has obtained very big development in our country now, but its development time relativelyshorter, it still does not perfect. For the small farm who with theHighechnology, how to utilize Venture capital promotes it technology marketlization, is the problem that their pays more attention to. Thisarticle analyze Venture capital company decisionaking program, and combines example to do discussion of this aspect actually.The article divides into the fourth chapter. the first chapter concernabout Venture capital base theory. Ease theory understanding of what It Is more detailed, Including Venture capital concept, characteristic and three key elements :lnvestor. Venture capital company. Enterprise. The second chapter concern about Venture capital investment program analyze. First describe what it is Venture capital investment program:collect capital, establishes Venture capital company, evaluating and choosing of item, standard investment time reaches investment to agree. item of risk manages. Venture capital withdraws waits one investment period and process, then risk tactics of investment makes analyses. At last invest to is investment about risk item assesses evaluates does analyses in detail, this part is emphsis of this article. The third chapter is emphsis of this article also, through analyze a company i-fE CO. which want Venture capital, in orders that reader make clear policy of Venture capital抯 project decision. The fourth chapter is assesses the project.更多还原