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论文编号：	8999
作者编号：	2120142789
上传时间：	2016/12/16 17:23:27
中文题目：	股权投资基金在国企改革中应用的研究——以天津渤海国资公司为例
英文题目：	Study on the Operation of equity fund in the reform of state owned enterprises: Using BHSAC as an example
指导老师：	王卫东
中文关键字：	股权投资基金;基金模式;国企改革;国有资本运营公司;市场化改革
英文关键字：	equity investment fund; fund model; state-owned enterprise reform; state-owned capital operation company; market-oriented reform
中文摘要：	股权投资基金是现代投资银行金融创新标志性的产物，在中国以其特有的财富效应作为驱动，通过滚动投资与退出机制，从微观层面推动了产业转型、技术创新和社会经济总体的发展。通过中国的实践，股权投资基金作为投资工具，通过其结构、机制等方面优势，已在经济发展中发挥了越来越大的作用。国企改革问题一直受到着社会的广泛关注并作为经济改革的重要内容，随着十八届三中全会的召开，明确了“以管资本作为国资监管的重点”、“大力发展混合所有制”的方向，相关改革内容与目标与股权投资基金在经济发展中微观、宏观层面所发挥的作用高度契合，进而引发了对利用股权投资基金推动国企改革相关问题的思考与研究。本篇论文通过理论回顾，论述了股权投资基金与国企改革在理论上的契合性，进而明确研究方向。通过对股权投资基金基本要素、运作机制、组织架构等方面的介绍，研究了其与传统投资公司的区别及优势，总结了股权投资基金在经济发展方面起到的促进作用，以及其在国企改革领域应用的巨大潜力。文章围绕深化国企改革的指导思想与改革方案，针对国企改革的中的重点任务和改革方向，将股权投资基金这一工具进行了嵌入，具体分析了股权投资基金能够发挥作用的领域，以及具体可以采用的结构和模式，为股权投资基金推动国企改革提供了工具性的支持。本文结合作者工作中接触的真实案例，对某国有资本运营公司实际利用股权投资基金的真实情况及实现的效果进行了描述，印证了股权投资基金对推动国企改革的正向作用。与此同时，由于国有企业历史性的原因，其在市场化方面与股权投资基金在存在一定基因上的障碍，作者结合案例分析了具体的问题与障碍，提出了国企在股权投资基金方面进一步完善市场化的改革路径。
英文摘要：	Equity investment fund is the product of financial innovation of modern investment bank. Driven by the unique wealth effect in China, through the rolling investment and exit mechanism, the equity investment fund has promoted the industrial transformation, technological innovation and the development of social economy from the micro level. Through China's practice, equity investment funds as an investment tool, through its structure, mechanism and other advantages, has been in economic development has played an increasing role.With the convening of the Third Plenary Session of the 18th CPC Central Committee, it clarified the direction of "focusing on the management of state-owned assets" and "vigorously developing the system of mixed ownership" in the reform of state-owned enterprises (SOEs) , The relevant reform content and the target and the equity investment fund in the economic development micro level, macroscopical level play the role of high degree of fit, and then led to the use of equity investment funds to promote the reform of state-owned enterprises related to thinking and research. This paper, through theoretic quotation, reflects the theoretical agreement between the equity investment fund and the state-owned enterprise reform, and then clarifies the research direction. Through the introduction of the basic elements, operation mechanism and organization structure of the equity investment fund, it reflects the difference and advantage between the traditional investment company and the traditional investment company, analyzes the promoting role of the equity investment fund in economic development, Areas of application of the great potential.The article focuses on the guiding ideology and reform plan of the state-owned enterprise reform, and embeds the tool of the equity investment fund in the reform of the state-owned enterprises. It also analyzes the areas where the equity investment funds can play a role, Using the structure and model for equity investment funds to promote the reform of state-owned enterprises provided the instrumental support. This paper describes the real situation and effect of the actual use of equity investment fund by a state-owned capital operation company, which shows the positive effect of the equity investment fund on the reform of state-owned enterprises. At the same time, due to the historical reasons of state-owned enterprises, the market-oriented and equity investment funds in the existence of certain genetic barriers, the author of the case with specific problems and obstacles to state-owned enterprises in the equity investment fund to further improve Market - oriented reform path.
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