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A Study Of The Supporting System Of Venture Capital Investment The Development Of China's Medium And Small Enterprise

Posted on:2004-11-14Degree:DoctorType:Dissertation
Country:ChinaCandidate:S W YangFull Text:PDF
GTID:1116360095960757Subject:Agricultural Economics and Management
Abstract/Summary:PDF Full Text Request
The medium and small enterprises in our country are suffering restricts of the various factors in the development process. Now our country has entered WTO, the Medium and small enterprises in our country also face the rigorous challenge. In the last few years, the Medium and small enterprises have to compete with large enterprise in the market, and also reply to the pressure of the outside enterprises at the same time. Lack of competition ability, the Medium and small enterprises face many difficulties. Funds is the biggest difficultly for small business enterprise in the process of technique innovation, this paper centers on the research of the venture capital investment supporting system of the development of medium and small enterprises, synthesizing the knowledge in the fields of investment economics, enterprise management, finance and so on, and using various ways of research such as combining the qualitative analysis with quantitative analysis, exemplification with certification, and comparative analysis.The paper is divided into ten chapters to discuss the venture capital investment supporting system of medium and small enterprises. The ten chapters can be divided into five parts, introduction (the first Chapter), theoretical research ( the second and the third Chapter),the analysis of present situation (the fourth Chapter), supporting system research (from the fifth to the ninth Chapter) and summary and the prospect of the research(the tenth Chapter).In the introduction, the paper introduces the meaning and method of research, retrospect's the current research trends in the field of domestic and international venture capital investment, and then puts forwards the innovation of this paper.In the theoretical research part, the paper carries out the research of the related theoretical problems of the venture capital investment of medium and small enterprises from the following aspects. Firstly, the paper explains the connotation of medium and small enterprises from the aspects of qualitative and quantitative analysis puts forward the orientation of China's medium and small enterprises through the analysis of the technical innovation advantage of medium and small enterprises. The author suggests that the innovation advantage of medium and small enterprises and large enterprises are incomparable. Thus, the medium and small enterprises of our country should play an important role in promoting social technical innovation, saluting the employment of surplus labor and improving the system of socialist market economy. Secondly, the paperstudies the necessaries of the venture capital investment supporting to the medium and small enterprises and makes comparative analysis of the existing financing channels of China's medium and small enterprises. The paper puts forward that it is difficult for the traditional financing channels to link up the financing stages and the capital needs of medium and small enterprises. Only the risk-preferable venture capital can satisfy the financing needs of medium and small enterprises. Thirdly, the paper makes clear some concepts of the operation process of venture capital investment. The author considers that the individuals, companies of venture capital investment and the risk enterprises constitute a 3-in-1 operation process. Capital firstly flows from the investing individuals to the venture investment companies, and, then, flows to the risk enterprises after the selective decision of the venture capital companies. The capital gets increment after the operation of the risk enterprises and flows back to the venture investment companies. At last, the benefits are allocated to the investing individuals. Fourthly, the paper researches the organization structure and the administration mechanism of venture investment. The major organization forms of venture investment include limited joint system, company's system, and trust funds. But with the development of venture investment business, company' system has been eliminated because of the over-high transaction cost.
Keywords/Search Tags:medium and small enterprises, venture capital investment, supporting system
PDF Full Text Request
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