Research On Venture Capital Projects Evaluation And Selection Of High-Tech Enterprises In China

In recent years, venture capital investment develops rapidly in China and it plays increasingly important role in improving economic competitiveness and developing high-tech industries. In venture capital investment, high profit goes along with high risk, and the high-tech enterprise project match with its features for the tremendous potential . The evaluation and selection of High-tech enterprise project is a complex systematic project. It is a selection process in limited human, material, time and the circumstances under asymmetric information . The accuracy and reasonableness of evaluation results effects the operating results in high-tech enterprise project. This paper studies venture capital projects evaluation and selection of high-tech enterprises in china stand for the venture capitalist.Firstly, on the basis of the previous research, in view of the current situation, this paper add the finance index and consider two factors taken into account in the adaptable of management structure about development and the use of scientific management. Secondly, it puts forward the selection method considering VaR with the use of TOPSIS method, in this part. At the basic of the risk, benefits, risks / benefits and VaR, this paper chooses a best project with TOPSIS method. VaR describes venire capitalist's tolerance in risk and makes the method becomes reasonable. Lastly, this paper proves the Correctness and Rationality of evaluation index and the model with a case. The case supply a practical reference to the evaluation and selection.Through the studies of the evaluation index and selection method, this paper presents a more reasonable method to Chinese venture capitalists. And it can improve accuracy of evaluation and decrease investment risk.