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Research On The Venture Capital Business Of Investment Bank In Our Country

Posted on:2005-08-06Degree:MasterType:Thesis
Country:ChinaCandidate:X TanFull Text:PDF
GTID:2156360125455925Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
In the stage of knowledge & economics, how to collect and use the capital is one of the essential stages in resource collocation. And this venture capital of finance tools plays an important role in providing financing and capital operation. The first Session of the Ninth CPPCC started an undertaking " No. 1st "project about Venture capital development in March 1998. From then on, the government and enterprise both pay attention to venture capital all over the world. In our country, the undertaking of venture capital investment has got a certain degree development too. But on the whole, it still has some questions. Among them the question attracting people's attention of a comparison is that the investment main body in our country is too single, the administration leading is strong. The investment main body is mainly government organs at all levels and external investment funds, and the government organs at all levels have taken most proportion again. The investment main body structure restrains the venture capital development in our country. And it is opposite to the essence that all the investment company regarded taking profit as the financial enterprise purpose too.As we all know, investment bank is inherent with venture capital. It's finance medium and invested entry is vital to Venture capital. On one hand, every stage in the fundamental process of venture capital has relation to investment bank. On the other hand, venture capital will greatly improve the self-development and relevant innovation business of investment bank. Therefore, it is significant to discuss the relationship between investment bank and venture capital in our country, which can perfect the mechanism of venture capital in our country.This text research on this topic closely, regarding the investment bank--theinvestment main body as the research object. This thesis especially focuses on the feasibility and great meaning that investment bank participate in venture capital investment in our country, pointing out that it is an effective means that investment bank extricate himself from a plight. Afterward this paper focused on the venturecapital mechanism of investment bank business especially, refering to the experience of foreign investment bank, this text think it is suitable mode to our investment bank to put the limited partnership organizing company into practice. The investment bank in our country should adopt many stage investment and option theory, to succeed in maximize the income under the realizing controlling risk . There is one chapter introduce many stage real option theory participating in venture capital investment decision method. This method makes some progress than the tradition methods using in investment bank. At the same time, Binomial Model combined with Black-Scholes formula, an integrated model of venture capital investment decision evaluation is given. This text research is abundant in the contents of venture capital investment theory. And this text research be beneficial to the invest adjustment of main body structure and achieve venture capital investment healthy development in our country, and favorable to make the investment bank's own way to the connection function in the system in our country, forming the structure of the national innovative system taking investment bank as investment subject. Finally the thesis discusses some countermeasures and suggestions about the question in the article.
Keywords/Search Tags:Investment Bank, Venture capital, Investment Main Body, Real Option
PDF Full Text Request
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