【作者】 张欣；

【导师】 潘爱民； 潘锦；

【作者基本信息】 湖南科技大学 ， 会计硕士（会计）（专业学位）， 2017， 硕士

【摘要】 创业投资的兴起,促进了全球经济的巨大发展,并逐步受到了社会的关注。然而其高风险性也给许多国家带来了巨大损失。目前,创业投资的组织形式主要是创业投资基金,其创新的不确定性使其面临许多潜在危险,基金运作中的财务风险是最重要也是最直接的威胁,它贯穿于创业投资基金的募集、投资、管理和退出的全流程。对财务风险的控制是否合理,关系到投资的最终效果,甚至可能导致投资失败。因此,为了防范财务风险,要对创业投资基金的运行过程进行全面分析,以期获得更高的投资收益。本文运用案例研究方法对创业投资基金运行的财务风险及控制措施进行分析。文章首先对创业投资基金及其财务风险理论进行阐述,包括创业投资基金组织形式及发展现状,财务风险的分类及成因分析等,为后文中的案例奠定了理论基础。其次结合C公司创业投资基金的投资案例,分析创业投资基“募、投、管、退”四个阶段的财务风险以及C公司的控制情况,提出控制中存在的不足,最后对财务风险控制提出改进建议,以此加强对创业投资基金运行的财务风险的防范,完善相关的控制手段和措施。文章对C公司创业投资基金运行的财务风险控制的改进建议具有普遍的现实意义,可以为行业的其他机构提供参考价值。更多还原

【Abstract】 The rise and development of venture capital has brought the United States and the global economy with great prosperity and development of the science and technology.Venture Capital attracts more and more attention from the society.However,many countries have suffered significant loss due to its high risk.At present,venture capital is mainly in a form of financing that is provided by firms or funds to the emerging firms.The nature of innovation and uncertainty is likely to bring many potential risks for venture capital funds.The financial risk is considered as one of the significant threats which impacts directly on financing.Venture capital investment bears financial risk throughout the fund raising,investment management and exit stages.If the financial risk management fails,it will affect the operation of the venture capital funds and even result in a further loss.Therefore,from the venture capitalists’ perspective,it is necessary to analyse thoroughly the potential risks of the venture capital investment and take comprehensive control measures to reduce financial risk and to make profit.This paper uses the case study to explore the financial risk control of venture capital fund.First,the author expounds theoretically the financial risk control of venture capital funds,outlining not only the definition and current situation of venture capital,but also the financial risk and its factors as well as control measures.Second,in the case study of venture capital investment of the C company,the author introduces the types and characteristics of the financial risk for venture capital.Third,author analyses the financial risk and current situation of financial control at different stages(Seed,Investment,Management and Exit),discovers the problems and proposes new financial control measures to improve the management mechanism and reduce the risks at four stages.This paper analyzes the financial risk and control status of C venture capital fund,finds out its existing problems and puts forward the improvement measures of financial risk control.Strengthen the financial risk control of different stages of venture capital fund operation stage;improve the financial risk control of venture capital management mechanism,C venture capital fund operation in the financial risk control measures and improvement methods have universal application significance,can be the industry’s other Institutions to bring reference.更多还原