| Hi-tech is becoming the main impetus of social economic development in the 21st century, and the competition among nations in the world is to some extent the technique competition among enterprises. Since the Sixteenth Convention of our Party, self-innovation in our enterprises has been raised to the high level of national development strategy, how can enterprises become the principal part of innovation will decide the international competition and sustainable development ability of our economy more and more. As we know, most of the industrialization and commercialization of High-Tech initiates from start-ups, but owing to the unsound investment and withdraw mechanism of high-tech venture-backed start-ups in our country, high-tech venture backed start-ups cannot be developed in a large scale. Meanwhile, the development of big enterprises is in lack of economic growth points. Therefore, it is a theoretically and practically important problem of how to take advantage of the new investment model, Venture Capital, to foster new increasing points of business and profit in our enterprises, so as to enhance their competitive ability. Through research on experiences, models, and characters of overseas CVC, we hold the idea that big companies and enterprises in our country may take advantages of CVC to change their present situations, to speed up their technique innovation, and to narrow the gap with multinational enterprises in developed countries.Named as "Corporate Capital Venture & The Strategic Value", this thesis is divided into four chapters as follows:Chapter I. Summing-up of documents on CVC. Gives relative definitions and theories of CVC, analyses economics explanations and present researching situations on CVC, and, through comparison with VC, points out that big companies can no longer monopoly innovation because of the changing of the main body oftechnique innovation, therefore, the strategic value of CVC lies in that big companies take CVC as a new investment model to foster their business and profit increasing point, so as to enhance their own competitive ability.Chapter II. Present development situation of CVC. Studies further on venture capital overseas, analyses the development procession, main models, and current operation characters of CVC.Chapter III. Strategic value of CVC. Through CVC targets research and case study, discusses how can big companies fix their target, build the transmitting channel and evaluating system of strategic value, to strengthen their ability on identify risks, control and management, and therefore to achieve their targets on CVC.Chapter IV. Practice in China of CVC. Discusses the practice, effects, and problems of venture capital in our country. Basing on the current situation of our enterprises, points out that energetically develop CVC is not only the rational selection of the VC at present stage, but also the strategic selection to strengthen the competitive ability of big enterprises. Basing on above mentioned study, gives out suggests on CVC development in our country.Conclusion: CVC is a strategy of enterprises in developed countries to answer to information technique revolution and innovation, it pursuits "double-aim" of finance and strategy. Enterprises in China may take advantage of CVC to promote technique improvement, to upgrade its core competition ability, and to enhance its competitive advantage in the global market.In view of big enterprises, esp. those national enterprises, have coming into the key stages of industry upgrading and structure adjustment, this thesis integrates CVC and big enterprises' self development together to carry on its research, it has theoretical and practical significance. And its innovation lies in that it starts from the upgrading of self-innovation ability of big enterprises, and studies the model of venture capital, points out that energetically development of CVC is not only the rational selection of our present VC, but also the crucial channel of strengthen the competitive ability of our big enterprises. |
PDF Full Text Request