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论文编号：	4850
作者编号：	2120102456
上传时间：	2012/12/12 15:21:16
中文题目：	创业投资项目选择策略研究
英文题目：	The Selection Strategy on Venture Capital Project
指导老师：	武立东
中文关键字：	创业投资;行业成长性;企业成长能力;企业成长矩阵
英文关键字：	venture capital selection company; industry growth analysis ; company growth competence; company growth matrix
中文摘要：	创业投资是推动国家经济发展和优化经济结构的有效方式。最近十年里，创业投资在我国快速发展的实体经济基础之上得到了快速发展，伴随着我国资本市场体系完善和逐步放开，如深圳创业板的成功推出，创业投资的资金募集与投资总额都达到了前所未有的规模。然而，随着创业投资的快速发展和大量优质企业成功上市，投资项目的寻找和挖掘难度不断增大，在项目选择方面，有些创业投资机构在对项目竞争能力及所在行业的认识不够到位，而只是一味关注企业的业绩变化而调整自己的投资策略；有些创业投资机构在项目选择分析环节走过场，盲目跟风，多利用价格战来争夺项目，这些创业投资机构行为直接导致机构投资成本升高，资本收益率下降，整个创业投资行业投资回报也随之降低。尽快建立科学合理的项目选择策略，尽早地发现潜在优质项目并完成投资，已经成为创业投资机构在未来的竞争中获取优势的重要途径。本研究首先对创业投资、企业成长、竞争优势等方面的理论进行回顾和梳理,在此理论部分的基础上，接着分别地总结和分析了投资项目选择的标准、程序和影响因素，包括企业家及管理团队，企业的技术和产品等。在前文理论和实践基础上，提出了创业投资项目成长矩阵模型与选择策略，通过行业成长性与企业成长能力的二维坐标对项目进行定位并采取相应的选择策略。在本文的最后一章，具体研究了创业投资A项目的成长矩阵模型与选择策略分析，最后得出确定A项目为投资项目的结论。本研究创新点在于通过行业成长性与企业成长能力的二维坐标对项目进行成长定位并采取相应的选择策略，直观有效。本研究对创业投资机构制定项目选择策略具有参考价值,对于创业企业如何赢得创业投资也有一定的借鉴意义。
英文摘要：	Venture capital is regarded as a important power on driving both economy development and structure optimizing, so widely attentions and researches have been attached from theory and practical circles, Venture capital becomes hot topic in theory study, policy analysis and venture business operating. Venture capital came into China lately but has grown and developed rapidly especially with the Growth Enterprises Market triggering, more funds and investment raises rapidly and stably. However, after many good quality business being found and finished IPO successfully, it becomes more difficult and actually a challenging for venture capital company to select an appropriate venture business to invest their capital for high profit. Some venture company focus only on the performance appearance of venture company rather than the regular pattern or trend of industry. Some even only follow others in selecting company and compete with only pricing method. That’s not a good thing to venture capital industry but only results in higher investment cost and lower return on capital. It is urgent for venture capital company to establish right strategy on selecting venture company, that has become a important competitive factor in future venture capital circles. This article is to study on the venture capital strategy on selecting venture company. This Study , firstly, gives a review on the related theory, including venture capital theory, company grow theory, competition advantage theory , then introduces the normal standard for venture capital to select project , the procedure for selection and all possible related effect factor in selecting venture business, including entrepreneur, technique and products, industry growth study and company competitive advantage analysis. Then come up with “company grow matrix and selection strategy”, using the two rating factor on industry grow and company competitive advantage to locate the company at right location on the matrix, then related strategy could be take. Finally, apply this “company grow matrix and selection strategy” into a real case A company analysis, then draw a conclusion that this A company worthy of venture capital investment. This Study presents innovative points of “company grow matrix and selection strategy”, the key is to study industry growth and the company growth capability then give the company one right location on the matrix, then take right strategy on company. it will be a good company to venture capital to invest if both company and industry growth are at strong level. This study will, to some extent, have reference value to venture capital company in selecting project and also will help venture company know how to gain venture capital to grow faster and better.
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