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The Study On Investment And Withdrawal Of Venture Capital In China At The Present Time

Posted on:2003-02-13Degree:MasterType:Thesis
Country:ChinaCandidate:X JiaFull Text:PDF
GTID:2156360065956314Subject:Industrial Economics
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Venture Capital (VC) means investing into new-borne enterprises so that to share the long-term capital-added value with the rapid growth of enterprises through capital operating service to breed and help new-borne enterprises. VC is the combination of technology, capital, capital-operating service and the innovation spirit of enterprise. The essential of VC is capital operating based on innovation. Certainly, the risk of VC always exists; the main risks include political risk, cultural risk, economic risk that are from macro economic environment as well as technological risk, marketing risk and administrant risk that coming from microeconomic environment. The investing purpose of Venture Capitalist is to purse extra return based on high risk and thus further improve the development of VC.Up to now, some countries have developed their own suitable investing theory on VC, which build rich theories and practical experiences on various investing phases that from the investing project appraising, selection to infusing fund and its management, and then to withdrawing fund. China developed its VC rather late, in addition, its developing environment is not complete yet, thus the development of VC in China is limited and meet many problems including small scale of investing fund, unavailable legal systems, the poor way of withdrawal and lack of professionals. This dissertation discusses some existing problems in investment and withdrawal of VC based on the status of China. Here are main works.Firstly, we elaborate the relationship between VC and Risk Capital (RC), which are different from origination, the degree of investor's involving in the development of enterprise, operation cycle and their essences, etc. VC, however, is subjected to RC regarding investing field.Secondly, we introduce the three main factors of VC, i.e., VC's company, new-borne enterprise and government. The relationship between VC's company and enterprise is especially complex for VC's company not only invests fund into enterprise but also its management talent and other skills. Government is the leader and creator of macro economy environment of VC.Thirdly, we analyze the investing principle of VC's company in the light of various fund background. Some examples are present additionally.Finally, we discuss the suitable withdrawal of VC company based on the their respective advantages. We also discuss the present problems of our coming second broad market.
Keywords/Search Tags:VC, Investment, Withdrawal
PDF Full Text Request
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