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论文编号：	9690
作者编号：	2120152619
上传时间：	2017/12/8 17:58:47
中文题目：	私募股权投资中人工智能项目的评估研究—以Y公司投资项目为例
英文题目：	Research on PE Evaluation for Artificial Intelligence Project —Based on the Case of Investment Project of Y Company
指导老师：	齐岳
中文关键字：	私募股权；人工智能；项目评估；投资
英文关键字：	Private equity; artificial intelligence; project evaluation; investment
中文摘要：	私募股权投资机构是资本市场重要的参与中介，对于推动经济社会的发展也具有重要的意义。包括无人机在内的人工智能行业作为新兴产业的代表，近年来取得了飞速的发展，相应地，该行业由于其具有的高技术性、高成长性的特征逐渐受到了私募股权投资机构的关注和热捧。因此，对行业内项目的各指标进行分析和评价，并结合私募股权在实际项目中应用的案例研究，对于促进私募股权投资行业和人工智能行业的双向发展有着重要的现实意义。 本文主要按如下思路进行研究。第一章绪论，主要是介绍研究的背景、研究方法、全文的内容结构安排以及创新点和不足。第二章为理论综述，主要介绍私募股权投资的相关概念、运作流程与特点，总结了国内外在私募股权投资方面所作的大量研究工作，指出了原有研究存在的不足，即多为大一统的投资标准，而缺少针对具体细分行业的项目投资评价特性研究，给出了本文的研究方向：以行业中具体的案例实际分析来说明人工智能这个PE重点关注的领域内企业价值评估指标与估值方法。第三章是无人机企业Y公司投资项目的背景介绍，主要介绍了人工智能行业发展现状与趋势、Y公司所在细分行业的发展情况以及公司经营情况。第四章对Y公司投资项目进行了评估，根据国内人工智能行业的特点得到了适用于PE的人工智能项目投资价值评价指标与各指标权重占比，然后用此设置对Y公司投资项目进行了评价，接着确定了Y公司投资项目的估值，并结合该案例谈了在评价指标、估值与投资风险方面的一些体会。第五章首先给出了本文的研究结论和贡献，并从企业估值、资本市场建设和公司治理三个方面提出建议，接着阐述了本文的局限性，最后对需要深入研究的问题进行的展望。
英文摘要：	As the important participant in capital market, Chinese Private Equity institutions are also of great significance for the promotion of economic and social development. The artificial intelligence as a representative of the emerging industry, including unmanned aerial vehicle (UAV), has made rapid development in recent years, accordingly, the artificial intelligence industry is gradually concerned by Chinese Private Equity institutions for its characteristics of high technology and high growth. Therefore, the analysis and evaluation of various indicators of the industry project, combined with a case study of actual project application, have important realistic meaning for promoting two-way development between both the Private Equity industry and the artificial intelligence. The main contents of this article are as follow. The first part mainly introduces the background and methods of the research, the content structure of the whole paper, as well as innovation and research deficiencies. The second chapter is the summary of the theory, in this chapter I will introduce the related concepts, the operation flow and the characteristic of PE, summarize the home and abroad research on Private Equity, then point out the short comings of the original research: most of the investment standards are unified and lack of project investment evaluation characteristics for specific industry, and determine the study direction of this paper: A case study is used to illustrate the enterprise valuation index and valuation method in the field of artificial intelligence, which is the focus of PE. The third chapter introduces the background of the investment project of Y UAV. It mainly describes the present situation and trend of the development of artificial intelligence industry, the development status of UAV industry, the company's operating conditions. The fourth chapter evaluates the investment projects of Y Company. According to the characteristics of the domestic artificial intelligence industry, the investment value evaluation index of artificial intelligence project and the weight ratio of each index are obtained. Then, the investment project of Y company is valued with this index and the valuation of the investment projects is determined, and I describe some experience on the evaluation index, valuation and investment risk. The fifth chapter first gives the conclusion and contribution of this paper, and puts forward suggestions from the following three aspects: enterprise valuation, capital market construction and corporate governance, and then elaborates the limitations of this article, and finally puts forward some suggestions for the further research.
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