Research On Preventing And Monitoring System Of Credit-risk In China Hi-tech Venture Capital Enterprises

Credit-risk exists widely in high-tech venture capital field, it make research on credit-risk's preventing and monitoring system for Hi-tech Venture Capital Enterprises is significant. The thesis is a part of National Natural Science Fund Project 'Management Mode and Management Systematic Design for Credit-risk of China High-tech Venture Capital Corporation [70073012]'. On the basis of reading the domestic and international relevant documents, the thesis makes theoretical and demonstration research on preventing and monitoring system of credit-risk in China Hi-tech Venture Capital Enterprises.Chapter 1: Preface. First, the Chapter introduces research background, meaning. Second it defines venture capital, credit, risk, and credit-risk and venture capital system. At last this chapter elaborates research content, thesis's frame and technological route.Chapter 2: The development status of China Venture Capital and the origin research of credit-risk. First, this chapter analyses development status of China Venture Capital, discusses problems of China Venture Capital, and makes the conclusion that the emergent work is resolving credit-risk problem at the macroscopic and microcosmic angel for China Venture Capital. The reasons of introducing the credit-risk evaluation to invest field is that credit-risk has particularities as following: (1) the evaluation factors for credit-risk are morals and competence mostly. (2) The credit-risk had the function of 'amplifier'. (3) It is difficult to evaluate credit-risk like other risks; so nature-determined method is used often. The principal part of the chapter analyzes principal-agent relationship in China venture capital enterprises exerting principal-agent theory, and makes a conclusion that information asymmetry; objective not consistent and the principal of benefiting yourself are the origin of credit-risk. At last the chapter elaborates the representation form of information asymmetry in China Venture Capital and differences between credit-risk and other risks. Chapter 3: The research on credit-risk organization guarantee and contract guarantee. First, the chapter analyses status of China Venture Capital Enterprises, and there are three kinds of organization existing widely: fund mode, China and foreign countries cooperation mode and corporation mode, law prohibits limited partnership corporation. Second, the chapter discusses the governance mechanism, analyzing function mechanism for limited partnership corporation to prevent and monitor credit-risk. The chapter study the characteristic of China Venture Capital Enterprises, that is the credit-risk origins not only from the organize exterior (venture entrepreneur), but also from the organize interior (manage personnel of Venture Capital Enterprises). At last the chapter elaborates the content of investment contract and management contract, it is the emphases chapter of the thesis. Chapter 4: The credit-risk management flow design. The chapter analyses research on credit-risk organization guarantee and contract guarantee. First, the chapter analyses the ordinary organization forms for Venture Capital, on the basis of deeply analyzing, brings forward advanced Venture Capital Corporation organizing structure chart. Based on the magnitude of risk degree and bear competence for Venture Capital Enterprises, writers divides the venture capital management department into functional system and consult system basis forms, and elaborates the function of risk management department and risk control committee. Second, the chapter brings forward an entirely new concept: risk general control and reveals the characteristic and constitute of risk general control. It includes market risk group, credit-risk group, investment structure risk group and risk basic structure group. At last, taking the Changchun Science and Technology Venture Capital Corporation as an example, the chapter has a demonstration research and works out credit-risk management flow. At the end of the chapter, it analyses the credit-risk omens. C...