我国风险投资退出机制探讨

【作者】 袁长明；

【导师】 石连运；

【作者基本信息】 山东大学 ， 企业管理， 2005， 硕士

【摘要】 风险投资是现代高科技产业的助推器,被誉为“经济增长的发动机”,在现代经济中发挥着巨大的作用。当前我国风险投资业发展缓慢的重要原因之一是缺乏有效的退出机制。本文通过对中外风险投资退出机制的对比研究,找出存在的问题,提出建立符合我国国情的风险投资退出机制。 本文包含三个部分。第一部分,在介绍相关概念和理论的基础上,描述了若干发达国家和地区风险投资业的发展状况,并对它们的退出机制进行了研究,为构建我国风险投资退出机制提供参考经验;第二部分,在研究我国风险投资退出现状的基础上,指出当前我国风险投资退出机制的不完善是由于存在三种约束,即资本市场约束、法律制度约束和风险投资家市场约束;第三部分,就构建我国风险投资退出机制提出了对策。更多还原

【Abstract】 Venture Capital is the accelerator of modern hi-tech industry and does great effect to modern economy. It is honored to be the engine of economy development. One of main reasons that make Venture Capital in china develop slowly is the lack of effective exit mechanism. By comparing the exit modes of domestic and abroad, we try to find out the problem and bring out to establish the venture investment exit mode, which can meet our demands.This paper consists of three parts. In part one, notations and theories of Venture Capital theory are introduced and state of the art of some developed countries are described. Also, venture investment exit modes of them are studied and used as important references to establish our mode. In part two, based on the studies of state of the art of our country, we propose that three factors effect the perfection of our exit mechanism of venture investment, which means capital market, legal system and venture capitalists market. In part three, strategies to construct effective exit mechanism of Venture Capital in china are proposed.更多还原