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论文编号：	12413
作者编号：	2320180640
上传时间：	2021/6/10 16:25:50
中文题目：	WF资本投资策略优化研究
英文题目：	Research on optimization of WF Capital Investment Strategy
指导老师：	覃家琦
中文关键字：	WF资本；私募股权；投资策略；优化
英文关键字：	WF capital; Private equity; Investment strategy; To optimize the
中文摘要：	近年来，随着我国经济的不断发展以及资本市场的进一步完善，私募股权投资基金也展现出蓬勃发展的趋势。私募股权投资基金是提升企业内在价值的催化剂，也是我国实体经济、高新产业的助推器，大力发展私募股权是中国资本市场的必然趋势。但是2017年以来，国家金融体系不断深化改革，IPO审核趋严，资管新规出台，在一系列去杠杆的背景下，私募股权投资机构迎来了一系列的挑战。在外部大环境的影响下，笔者所在的WF资本也面临着项目无法正常退出，基金收益不达预期等各方面的压力。为了确保能在未来市场的激烈竞争中取得良好的业绩，WF资本也要针对市场的变化做出一些投资策略上的调整和优化。 本文对私募股权投资策略进行了初步探讨，首先阐述了私募股权投资理论，包括私募股权基金的概述、特点及分类；然后对私募股权基金现行投资策略进行分类概括，包括投资阶段、投资类型、投资行业等，最后回顾并梳理了国内外学者在此领域的一些研究成果。从第三章开始，笔者先对本人所在WF资本的概况和投资策略进行介绍，然后提炼出公司现存投资策略的问题和成因；基于第三章所提出的问题笔者在第四章对私募股权投资策略中最核心的投资领域、投资阶段、投资地域三方面提出有针对性的优化方案；最后为了确保优化后的投资策略能够有效实施，第五章针对优化后的投资策略提出一些具有针对性且可执行的保障措施。本文的创新之处在于将WF资本整体的投资策略进行总结回顾，站在全局的角度上对公司投资策略所存在的问题进行分析并根据实践经验提出优化解决方案。在回顾相关理论的同时能够理论结合实际，使本文得出的结论更加贴近现实，具备现实的指导意义，能够为WF资本未来投资策略的改进提供帮助。 笔者所在公司所面临的挑战是绝大多数私募股权投资机构的共同难题，所以针对本机构的解决方案对类似机构乃至整个私募股权投资业均具有一定的参考意义。
英文摘要：	In recent years, with the continuous development of China's economy and the further improvement of the capital market, private equity investment funds also show a trend of vigorous development. Private equity investment fund is not only the catalyst to enhance the intrinsic value of enterprises, but also the booster of China's real economy and high-tech industries. Vigorously developing private equity is the inevitable trend of China's capital market. However, since 2017, the national financial system has been continuously deepening reform, IPO audit has become more stringent, and new asset management regulations have been introduced. Under the background of deleveraging, private equity investment institutions are facing a series of challenges. Under the influence of the external environment, the WF capital in which the author works is also faced with various pressures, such as the project can not be withdrawn normally and the fund income is not as expected. In order to ensure good performance in the fierce market competition in the future, WF capital should also make some adjustment and optimization of investment strategy according to the market changes. This paper makes a preliminary discussion on the investment strategy of private equity. Firstly, it expounds the theory of private equity investment, including the overview, characteristics and classification of private equity fund; secondly, it classifies and summarizes the current investment strategy of private equity fund, including investment stage, investment type, investment industry, and so on. Finally, it reviews and sorts out some research results of domestic and foreign scholars in this field. Starting from the third chapter, the author first introduces the general situation and investment strategy of WF capital, and then refines the problems and causes of the company's existing investment strategy; based on the problems raised in the third chapter, the author puts forward targeted optimization scheme in three aspects of the core investment strategy of private equity investment: investment field, investment stage and investment region; finally, in order to make sure that The fifth chapter puts forward some targeted and implementable safeguard measures for the optimized investment strategy. The innovation of this paper is to summarize and review the overall investment strategy of WF capital, analyze the problems existing in the company's investment strategy from the overall perspective, and put forward optimization solutions according to practical experience. At the same time, it can combine theory with practice, which makes the conclusion of this paper closer to reality, has practical guiding significance, and can help WF capital to improve its investment strategy in the future. The challenge faced by the author's company is the common problem of most private equity investment institutions. Therefore, the solutions for this organization have certain reference significance for similar institutions and even the whole private equity investment industry.
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