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论文编号：	7844
作者编号：	2120132528
上传时间：	2015/12/7 18:09:34
中文题目：	A市财政专项资金股权投资风险管理研究
英文题目：	Research On Equity Investment Risk Management About A City Special Financial Funds
指导老师：	余娟
中文关键字：	财政资金;股权投资;风险管理;案例分析
英文关键字：	Financial Funds;Equity Investment;Risk Management;Case Studies
中文摘要：	当前，中小企业作为中国经济结构转型升级的重要助力所面临的一个重大的发展瓶颈就是企业资本缺乏市场化补充机制，这是一个非常严重的问题。而A市财政专项资金在使用传统补助模式支持中小企业发展方面存在着诸多弊端，没能以最优的方式支持区域内中小企业的发展，财政专项资金创新性的借助股权投资方式支持实体经济发展，在帮助中小企业解决融资难题的同时还能提高资金使用效率，这对促进地区产业升级及稳定区域经济增长都有着积极的推动作用。但在投资活动的过程中必然伴随着相应的投资风险，如何有效的对风险进行控制就成为了能否实现政府投资目标的关键。因此，本文对A市财政专项资金股权投资活动中面临的主要风险进行分析和研究，探索可用于实际投资活动的风险管理策略，对其安全开展股权投资活动和实现投资目标都有着重要的现实意义。本文首先介绍了传统股权投资的概念、特点及投资流程，并对投资过程中风险产生的原因进行了分析，在对投资风险进行分类和评估的基础上提出具有针对性的风险控制策略；其次详细介绍了A市于2013年开始开展市财政专项资金进行股权投资的使用模式，其中市财政专项资金是指市政府各类专项资金包括经营性资金中可用于实施股权投资的资金，详细说明了财政专项资金的投资要求、管理方式及投资流程，并指出了目前该资金在实际进行股权投资活动中所面临的主要投资风险；然后借助具体的投资案例分析A市财政专项资金在实际投资项目中如何借鉴和使用商业化投资机构的风险管理经验，结合A市政府要求实现国有资本保值增值、支持区域经济发展投资目标的基础上来合理控制投资风险；最后总结了对于A市财政专项资金股权投资活动风险管理的研究结论并从政府作为实际出资人的角度提出一些进一步控制投资风险的个人建议。
英文摘要：	As an important assistance of China's economic structure transformation and upgrading, a major crisis for SMEs is the lack of the marketization complementary mechanism of the business capital. A city special financial funds can not support intra-regional SMEs development by the optimal way, because it supports SMEs development by the tradition supplement way. Special financial funds support SMEs development by means of the equity investment, which not only solve the SMEs financing problem, but also improve the efficiency in using financial fund. It is help to promote the regional industrial upgrading and stabilize the regional economic growth. However there must be the investment risk accompanying the investment active. It is key how to control risk effectively for the government in realizing investment objectives. Therefore the paper analyzes the main risk about A city special financial funds in actual investment project, studies the risk management strategy for the actual investment. It is contribute to carry out the investment activity and realize investment objective. Firstly, this paper introduces the concept, characteristics and investment process about the traditional equity investment, and analyzes the risks causes in the course of investment, and then proposes the pertinent risk control tactics based on the investment risk classification and evaluation. Secondly this paper expatiates the usage pattern that A city carried out the city special financial funds on the equity investment in 2013. Among them, the city special financial funds refer to all kinds of special funds in the municipal government, which include the funds of the implementing equity investment. The investment requirement, management methods,the investment processes about the city special financial funds, and the current investment risk on the equity investment activities in actual are specified. Then, this paper analyzes A city special financial funds in actual investment project how to use for reference the investment experience of commercial investment institutions on the market by specific investment case, and combines A city financial funds as the state-owned capital to achieve the preservation and appreciation of state-owned capital and reasonably controls investment risk based on investment targets of supporting regional economic development. Finally, the risk management research are summarized in the equity investment activities for A city special financial funds, and some suggestions are put forward on control the investment risk for the perspective of the government as the actual investor.
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