【摘要】 本文采用聚类分析与判别分析的方法 ,根据我国的生物医药行业的特点与生物医药行业上市公司的业绩 ,分析影响生物医药行业上市公司风险投资成功的因素。我们发现生物医药上市公司的产品的特性及其市场定位在公司经营的成败方面起到了关键的作用 ,具有中国特色的传统的中成药及高科技的生物工程制药都有可能获得成功。在现阶段 ,中国风险投资的风险主要是技术风险和市场风险 ,应充分认识团队管理的重要性 ,现阶段投资于中后期技术含量相对低的企业不失为一种好的选择更多还原

【Abstract】 In this paper, the authors use cluster analysis and determinant analysis to look into the factors that determine the success of venture investment in a sample of Chinese listed companies of bio medicine industry. They found that the product characteristics and the market orientation play an important role in the orientation of these companies. Those companies which specialize in the production of Chinese traditional medicine or high tech bio medicine are more likely to succeed. At present, the major risks faced by Chinese venture capital are technical risk and market risk. Investing in the enterprises which are in the middle late stages and with relatively low technology level will be a good choice.更多还原