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Study On Risk Precaution And Handling Of Venture Capital Company In China

Posted on:2004-06-10Degree:MasterType:Thesis
Country:ChinaCandidate:X L XuFull Text:PDF
GTID:2156360092497856Subject:Business management
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Venture capital has been established in international market for nearly 60 years and has formed a set of mature mechanism. Especially in USA, venture capital has greatly accelerated the hi-tech industry and national economy growth. During the past 30 years, venture capital has created 7.6 million employment posts and 1.3 trillion US firm revenue annually. Venture capital market in China has been established only for decades. The community has more and more realized its propulsive effect to other industries, especially to hi-tech industry. It is widely accepted that venture capital is not only the incubator of the development of hi-tech firms, but also the impeller of economics. Due to the high potential and rate of return, many venture capital investors neglect the characteristics of high return and high risk of venture capital. With the sharp drop of NASDAQ, the burst of Internet bubble and the 911-terror attack, venture capital industry suffered a lot in the 21 century. The venture capital organizations profoundly realized the essentiality and necessity of risk analysis and risk precaution.As the most important part of the venture capital system, venture capital companies are the direct participator and operator in venture capital as well as the direct principal part to afford risk and share in the revenue. It is also the bridge between venture investors and entrepreneurs. Only depending on the normal and high efficient operation of venture capital companies, can the whole system reaches to tri-win. So, for the sake of the system's healthy and efficient development, venture capital companies should take actions in risk analysis and risk precaution.Based on the analysis of investment risks faced by venture capital companies and their actualities in China, this dissertation discusses the problems about risk precaution and risk handling, brings forward a set of effective measures in risk precaution and risk handling, and offers scientific decision gist to optimize our country's venture capital companies. In the analysis, thedissertation adopts the method combining qualitative analysis with quantitative analysis.This dissertation consists of five chapters.The first chapter briefs the development history, the connotation, organization style and system structure as well as the actuality of venture capital.The second chapter describes the research object of this paper, venture capital companies' definition and classification, points out the essentiality and necessity of risk analysis and risk precaution and makes the classified analysis from the angles of both venture capital companies and venture enterprises.The third chapter expounds the precaution about the investment risk. It puts forward the series measures of risk precaution under different conditions and established the whole-process risk precaution system.The fourth chapter is the emphasis of this dissertation. Depending on the analyses of the anterior three chapters, the author brings forward a series of measures about venture capital companies' risk handling, such as: subsection investment, resultant investment, combination investment, matching investment. At the same time, basing on the practice of our country's venture capital companies, in virtue of Multi-objects Decision Theory and Non-linear Programming Theory, the author sets up a subsection investment optimization mode.The fifth chapter is about the author's opinions and counter- measures of our country's venture capital industry.This article tries to bring three new ideas:(1) Establishes the whole-process risk management system.(2) Puts forward subsection investment optimization mode(3) Presents the thoughts about setting up multi-level venture enterprises stock market.
Keywords/Search Tags:venture capital, venture capital company, hi-tech industry, subsection investment optimization mode, risk precaution
PDF Full Text Request
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