【作者】 周东；

【导师】 毛道维；

【作者基本信息】 四川大学 ， 工商管理， 2003， 硕士

【摘要】 风险投资在科技成果转化过程中起着越来越重要的作用。但是，由于风险投资所具有的高度不确定性、动态性和复杂性，存在较大的投资风险，风险投资的收益难以保证，投资目标难以实现。如何评估控制风险、如何预测未来收益就成为风险投资过程中的两大核心问题。为解决好这两方面问题，我们应构建一套风险投资项目价值评估体系。本篇论文在研究国内外风险投资项目价值评估理论及方法的基础上，创新地提出了一套适合高科技风险投资项目的价值评估体系，并将其运用于本人参与的基因芯片风险投资项目中，以便运用理论解决实际问题。 本文前言部分主要阐述了风险投资在科技成果转化过程中的重要作用。并从风险投资过程中的两大核心问题——如何评估控制风险及如何预测未来收益入手，提出解决问题的方案：构建一套适合高科技风险投资项目的价值评估体系。 本文第一部分主要阐述了风险投资的相关概念、特点以及在中国的发展现状，为以下各部分论述做好铺垫。 本文第二部分首先介绍国内外有关风险投资项目竞争力评估理论及方法，并由此得出风险投资项目价值评估体系竞争力评估应包含的关键评价因素；接下来介绍国内外有关风险投资项目财务评估理论及方法，并由此得出风险投资项目价值评估体系财务评估应采用的方法。在以上理论研究的基础上，我本着定性与定量分析相结合的原则，分为竞争力评价和财务评价，构建一套适合高科技风险投资项目的价值评估体系。 本文第三部分运用第二部分所构建的风险投资项目价值评估体系来具体评估本人参与的基因芯片风险投资项目。将基因芯片风险投资项目价值评估体系分为竞争力评估子系统和财务专项评估子系统对该风险投资项目进行综合价值评估，为该风险投资项目提供科学客观的决策依据。 本文第四部分本着实事求是和努力探索的科学态度，就基因芯片风险投资项目价值评估体系中的相关问题作分析阐述，以便对该价值评估体系进行完善和修正，从而形成更加科学完善的风险投资项目价值评估体系，为中国风险投资业的快速发展做出贡献。更多还原

【Abstract】 In recent years, Venture Capital has played a more and more important role in the conversion of scientific fruits. However, owing to its high uncertainty, flexibility, complication and investment risk, the profits of Venture Capital are hard to be guaranteed and the goals are hard to be realized. How to control the risk and predict the future benefits become the two core problems of the Venture Capital. In order to solve these two problems, we should build up a set of value evaluation system of Venture Capital item. The thesis carries out a set of value evaluation system suitable for high technical Venture Capital item, and applies it to the genetic chips Venture Capital item which I had involved in so as to resolve the realistic problems on the base of researching the value evaluation theories and methods of Venture Capital item home and aboard.The preface of this article is mainly about the important function of Venture Capital in the conversion of scientific fruits. And it presents a scheme that is to set up a series of value evaluation system suitable for high technical Venture Capital to solve the problem beginning with the two crucial problems of Venture Capital (how to control risk and predict future benefits).The first part of this article introduces the concepts and characteristics related to Venture Capital and the temporary status of China setting a good base for the following parts.The second part of this article firstly introduces the competition evaluationtheories and methods related to Venture Capital item home and aboard, and obtains the key evaluation factors included by competition evaluation of Venture Capital item; next introduces the financial evaluation theories and methods related to Venture Capital item home and aboard and deducts the methods adopted by Venture Capital item value evaluation financial system. On the base of these research theories I’ve divided it into competition evaluation and financial evaluation and set up a value evaluation system suitable for high technical Venture Capital on the principle of combination of quantitative analysis and qualitative analysis.The third part of this article applies the value evaluation system which is set up in the second part to evaluate the genetic chips Venture Capital item which I had taken part in. I divide the value evaluation of genetic chips Venture Capital item into the branch system of competition evaluation and the branch system of financial item evaluation and use them to evaluate the Venture Capital item comprehensively which provide the scientific and objective decision foundation for this Venture Capital item.The fourth part of this article analyzes these problems related to the value evaluation system of genetic chips Venture Capital item in the spirit of seeking the truth from the facts and exploiting the scientific truth so that to fulfill and modify this value evaluation system and to form a more scientific value evaluation system of Venture Capital item and do own bit for the development of Chinese Venture Capital industry.更多还原