联系我们

论文查询结果	返回搜索

论文编号：	14734
作者编号：	2120223753
上传时间：	2024/6/7 11:01:56
中文题目：	C私募股权基金公司投后管理研究
英文题目：	Research on Post Investment Management of C Fund Company
指导老师：	黄福广
中文关键字：	私募股权投资；投后管理；分级管理；增值服务
英文关键字：	Private equity investment；Post investment management；Graded management；Value-added services
中文摘要：	自2020年以来，我国私募股权投资行业环境面临前所未有的变化。一方面，全球经济下行周期趋势明显，叠加后疫情时代，产业发展乏力，贸易摩擦和政策变动风险使资本市场不确定性进一步增加。另一方面，随着国内资管新规的颁布和实施，直接给风险投资基金的“募资”环节造成了强烈的冲击。而“投后管理”作为连接“投资”和“退出”的重要环节，管理的好不仅能够为基金降低项目投资的不确定性，帮助企业快速发展，而且可以增加项目收益，最终实现资本增值。尤其是对于中小型创投公司来说，“投后管理”工作更为重要。 本篇文章采用理论知识分析和具体业内实践相结合的方法，首先，通过对过往风险投资领域文献的整理和研究，重点梳理了投后管理理论的研究思路与脉络，归纳总结了国内与国外关于投后管理的理论成果。其次，本篇文章立足中小型风险投资机构，聚焦于投资+孵化模式投资机构，以C基金公司的投后管理作为研究对象，通过系统分析C基金公司投后管理的各个环节，梳理其在具体运作过程中所出现的行业普遍性问题，并进一步分析其成因，并给出相应的解决方法。在本篇文章中，C基金公司在投后管理方面存在整体内部收益率下滑、公司部门之间出现利益纷争以及公司多项被投项目风险频出等问题。文章并针对C基金公司所面临的具体问题和实际运营需要，提出了投后管理阶段的优化措施以及改进方案。 最后，本篇文章在总结所选案例以及访谈调研的基础之上，结合风险投资机构在投后管理实践中的具体需要。构建了一套适用于C同等类型的创投公司的标准化投后管理模型。文章同时也注明，不同创投公司存在着巨大的差异性，没有一套普适的模型，但本篇文章所构造的标准化投后管理模型能够为行业内的其他机构起到借鉴作用，提供参考价值。
英文摘要：	Since 2020, the environment of China's venture capital industry has faced unprecedented changes. On the one hand, there is a clear downward trend in the global economy, coupled with the post pandemic era, weak industrial development, trade frictions, and policy changes, which further increase the uncertainty of the capital market. On the other hand, with the promulgation and implementation of new domestic asset management regulations, it has directly caused a strong impact on the fundraising process of venture capital funds. As an important link connecting "investment" and "exit", "post investment management" can not only reduce the uncertainty of project investment for funds and help enterprises develop rapidly, but also increase project returns and ultimately achieve capital appreciation. Especially for small and medium-sized venture capital companies, post investment management is more important. This article adopts a combination of theoretical knowledge analysis and specific industry practices. Firstly, through the sorting and research of past literature in the field of venture capital, it focuses on sorting out the research ideas and context of post investment management theory, and summarizes the theoretical achievements of post investment management in China and abroad. Secondly, this article focuses on small and medium-sized venture capital institutions, focusing on investment+incubation model investment institutions, and takes the post investment management of C Fund as the research object. Through a systematic analysis of various aspects of post investment management of C Fund, it sorts out the industry wide problems that arise in its specific operation process, further analyzes their causes, and provides corresponding solutions. In this article, C Fund faces issues in post investment management, such as a decline in internal rate of return, inconsistent responsibilities of incubation teams, and frequent risks associated with invested projects. The article also proposes optimization measures and improvement plans for the post investment management stage in response to the specific problems and actual operational needs faced by C Fund. Finally, based on the summary of the selected cases and interview research, this article combines the specific needs of venture capital institutions in post investment management practice. We have developed a standardized post investment management model suitable for venture capital companies of the same type as C. The article also points out that there are significant differences among different venture capital companies, and there is no universal model. However, the standardized post investment management model constructed in this article can serve as a reference for other institutions in the industry and provide reference value.
查看全文：	预览  下载(下载需要进行登录)