中国风险投资中的制度安排现状与对策

【作者】 范胜军；

【导师】 朱正萱；

【作者基本信息】 南京理工大学 ， 产业经济学， 2002， 硕士

【摘要】 我国的风险投资业发展较晚，由于观念及体制上的障碍，科技改革与经济发展未能保持同步，长期以来融资渠道的不通畅、契约关系的不健全、分配制度的不合理、知识产权不明确等原因，致使我国风险投资事业举步维艰，有些公司甚至误入歧途，最终破产关闭。我国风险投资要成为高新技术产业的“孵化器”，首先要解决的就是制约其顺利发展的“瓶颈问题”——风险投资的制度安排。 本论文针对这一问题，对我国风险投资制度安排的现状和问题展开了详细的阐述，并对制度安排中影响风险投资迅速发展的主要因素进行了细致的分析和论证。从风险投资的支持机制、组织形式、需求主体、准入机制和退出机制五个方面阐述了解决的方法和对策：发展我国的风险投资业必须建立以机构投资者为主的资金准入制度机制、以有限合伙制为主要形式的组织制度、培育以民营科技型企业为需求主体的风险资本体系、建立以二板市场为主的风险投资退出机制和良好的政策支持机制。更多还原

【Abstract】 The risk investment developed late in our country. Due to the barrier of idea and institution, technology reform and economic development are not synchronous. For a long period of time, because of the unconnected financing channels, unsound contractual relationships, unreasonable distribution system and the undefined intellectual property rights, risk investment developed difficultly in our country. Some corporations have even gone wrong and gone bankrupt at last. In our country, in order to turn the risk investment into the brooder of high technology industry, the problem needed to be solved first is the bottleneck problem which restricts the shaping up of risk investment, that is the system arrangement of risk investment.To the question, the status and problems of the risk investment in our country are discussed in detail, and the main factors which effect the development of risk investment are analyzed and demonstrated particularly in this thesis. The system arrangement methods and countermeasures of risk investment development in our country are discussed in the following aspects respectively: the support mechanisms, the configuration of organization, the demand principal part, the admittance mechanisms and the withdraw mechanisms of risk investment. It is proposed that in order to develop risk investment in our country, we must establish capital admittance mechanism which give priority to institutional investor, establish organizational institution whose main form is limited partnership institution, cultivate risk capital system whose demand principal part is private enterprise, establish risk investment withdraw mechanism whose main partnership is secondary securities market and sound policy support mechanism.更多还原