【作者】 王瑞红；

【导师】 王筱萍；

【作者基本信息】 太原科技大学 ， 企业管理， 2012， 硕士

【摘要】 生物制药行业是高新技术行业中发展最为迅速的行业之一，具有诱人的投资前景和巨大的投资潜力。但是，生物制药项目作为技术高度密集的高新技术项目，具有技术要求高、资金占用大、不确定因素多的特点，对其投资的过程存在许多难以预测的风险，一些企业在项目投资过程中由于忽视了风险评价或者评价方法不当而蒙受了巨额损失。为了降低投资风险、减少损失，就必须在投资前准确地预计风险。因此，运用科学的项目投资风险评价方法，为投资者正确、客观地评价我国生物制药产业的投资风险、更好地选择投资领域和投资时机提供理论依据是十分必要的。本文主要从以下几个方面进行研究：首先，详细介绍了研究背景、研究意义、国内外研究现状、主要内容及研究方法；其次，对我国生物制药上市公司投资风险外部影响因素进行了量化分析。结合我国生物制药业和风险投资业的特点，构建了我国生物制药上市公司投资风险外部影响因素体系。在此体系的基础上，将AHP法和模糊评价法相结合，确定各影响因素的权重，并对各影响因素的现状进行评价；再次，对我国生物制药上市公司投资风险内部影响因素进行了研究。文章结合上市公司内部影响因素的特点，从风险和收益的角度出发，构建了投资风险评价指标体系。文章以我国31家主营生物制药的上市公司为研究样本，利用主成分-聚类分析法，对样本公司的投资风险进行综合评价，并按照投资风险大小将这些公司进行了排序并简单分类；最后，提出我国生物制药业投资环境中存在的问题，并针对这些问题提出防范对策及建议。更多还原

【Abstract】 Biological pharmacy industry is one of the fastest developing industries inHigh-tech industry. It has attractive investment outlook and huge investmentpotential. As an high concentration of technology project, biological pharmacyindustry has a lot of characteristics，such as high technology request, largenumber of fund occupation and much uncertain element. The risk in itsinvestment is difficult to forecast, so some companies suffered from huge lossas a result of ignoring the risk assessment or using improper assessment methodin investment. In order to reduce the investment risk and reduce the loss, wemust calculate the risk accurately before investing. Therefore, it is verynecessary to provide theoretical basis for investors to make evaluationinvestment risk of biology pharmacy industry of our country correctly andobjectively, and to make a better selection of investment area and investmentopportunity, using scientific projects investment risk evaluation method.In this paper, the research can be separated into the following aspects: firstly,research background, research significance, internal and external researchpresent situation, main content and research methods are introduced in detail;secondly, I analysis the external influencing factor of china’s biologicalpharmacy listed companies investment risk quantitatively. With features ofchina’s biological pharmacy industry and risk investment, I construct a systemof external influence factors of Chinese pharmaceutical listed companyinvesting risk. On the basis of this system, combining AHP method and Fuzzyevaluation method, I fix the weight and assess the situation of the influencefactors; and then, I research the internal influencing factor of china’s biologicalpharmacy listed companies investing risk. With features of internal influencefactors of listed companies, from the view of risk and return, I construct asystem of investment risk evaluation indexes. In this paper, I take31biologicalpharmacy listed companies whose main business is biological pharmacy asresearch examples, and evaluate investment risk of the research examples byprincipal component-cluster analysis method. According to different rate of risk, I sort and classify these companies simply; In the end, I point out the problem ofbiological pharmacy industry investing environment of our country, and pointout the guarding countermeasure and advice in accordance with these problems.更多还原