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论文编号：	12047
作者编号：	2320180564
上传时间：	2020/12/11 9:53:47
中文题目：	A投资公司的项目投资决策体系问题及其优化研究
英文题目：	Research on Project Investment Decision System and its optimization of A investment company
指导老师：	覃家琦
中文关键字：	私募股权投资；决策体系；优化建议
英文关键字：	Private equity investment;Decision making system;Optimization suggestions
中文摘要：	近年来，我国私募股权投资市场发展迅速，大批民营、国资等投资机构纷纷入场，为股权投资市场注入活力，中国已经成为了世界第二大私募股权投资市场。私募股权投资基金为我国未上市的中小微企业、创新创业企业提供了股权融资渠道，对于促进技术创新和科技发展发挥了重要作用，已成为推动我国实体经济创新发展的重要力量。但是，我国私募股权投资市场发展尚不成熟，相关法律法规、监管制度都在逐渐完善的过程中，整体上呈现出私募股权投资机构数量众多，但管理规模普遍偏小，管理水平参差不齐等特征。 　　“投资”作为“募、投、管、退”的核心环节，能否筛选出优秀的投资标的，做出正确的投资决策，直接决定着投资项目能否顺利退出及投资收益的高低。我国多数投资机构在进行投资决策时，具有一定的盲目性，主要依靠过往的从业经验和部分成员的主观判断来进行决策，缺乏清晰的决策标准和规范的决策流程。在私募股权市场新的发展趋势和竞争格局下，中小私募股权投资机构能否构筑自己的核心竞争力，形成差异化的投资优势，已成为其能否在激烈的竞争中生存的关键，没有核心竞争力的投资机构将逐渐被淘汰。如何做好投资决策，提高投资运作管理水平，已逐渐成为各投资机构关注的焦点。 　　本文首先梳理了私募股权投资基金和投资管理决策的基本理论，然后以A投资公司为例，通过对其投资策略和投资标准、投资流程、团队成员构成等方面进行介绍，提出了在当前市场环境下其投资决策体系所存在的问题及不足；其次，结合A投资公司近期的一个投资案例的决策过程，具体分析了其在投资决策过程存在的问题及成因；最后提出了对A投资公司投资决策体系的具体优化建议，希望有助于提高A投资公司投资决策的标准化和科学化，提高决策效率，降低投资风险，同时也希望对其他投资机构具有一定的借鉴和参考意义。
英文摘要：	In recent years,China's private equity investment market has developed rapidly, and a large number of private and state-owned investment institutions were established,increasing the activity of the market.China has become the second largest private equity investment market in the world.Private equity investment fund provides equity financing channels for the unlisted and innovative enterprises in China. It plays an important role in promoting technological innovation and development, and has become an important force to promote the innovation and development of China's industry economy.However, the development of China's private equity investment market is still immature, and the relevant laws and regulations,regulatory system are in the process of gradual improvement. On the whole, it presents following characterristics:　there are a large number of private equity investment institutions, but the scale is generally small, and the management levels are quite different. 　　"Investment" is the core link of "fund raising, investment, management and exit", Whether the investment decision is correct or not directly determines whether the investment project can exit successfully and the level of investment income. Most investment institutions in China are blind in making investment decisions. They mainly rely on past experience and subjective judgment of some members and lack clear standards and normative process of decisionmaking. Under the new development trend and competition pattern of private equity market, whether small and mediumsized private equity investment institutions can build their own core competitiveness and form differentiated investment advantages has become the key to their survival in the fierce competition, and investment institutions without core competitiveness will be gradually eliminated. How to make right investment decisions and improve the management level of investment operation has gradually become the focus of investment institutions. 　　This paper combs the basic theory of private equity investment fund and management decision,Then, taking A investment company as the　example,　introduces its team members, investment strategy and standard, investment process,etc., and points out the problems and deficiencies of its investment decision-making system in the current market environment; Secondly, combined with the decision-making process of a recent investment case, specifically analyzes the problems and causes of the investment decision process.Finally, the paper puts forward the specific optimization suggestions for the investment decision-making system of A investment company. It is hoped that it will help to improve the standardization and scientificity of investment decision-making of A company,improve its efficiency of decision making and reduce the investment risk. At the same time, it also hopes to have certain reference significance for other investment institutions.
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