| Yadong Investment Consulting Co., Ltd of Jilin Province, which was established in 2008, is a wholly state-owned company of provincial State-owned Assets Supervision and Administration Commission. The purpose of founding Yadong is to better play the role of state-owned investment and build a bridge between projects and funding by the market operation. The main businesses of Yadong are investment consulting, independent investment, private equity fund. In company, many investment decisions of projects need to be make and individual investment concerns a large amount of money. So making sure the decisions are correct is not only related to the level of investment returns but also the company's survival. Therefore, the investment decision-making is the core of management and also the key to the further development of the company. Since the company just runs for short time and haven't set up a sound investment decision-making system. With the purpose of searching or creating a suitable investment decision-making system, taking the development plan of company as a guide, based on a lot of literature and the actual situation of the company, writer designed an investment decision-making system and management scheme.Firstly, some research have been done for the general decision-making system of company and the framework of investment decision-making system which is a three-tier structure is built. Then the investment decision-making system is determined. Therefore the platform and the organization system are fixed; Next based on different business filed, the management process of decision-making system is created including project operation and decision-making system control process of group. Finally, the docking of the decision-making system and other systems of is designed. Conclusions are summed up at the end of this article and the direction for further research is shown as well.There are four chapters in this thesis, each chapter is shown as follows:Chapter 1: The investment environment and development orientation of Yadong company. This chapter introduces the basic situation of the company at first. And then the external and internal environment is analyzed, the SO strategy is selected namely playing our strengths and seizing chances. Venture capital, fund management, investment consulting, asset management are major business of company. This strategy of development can comply with the policy requirements and catch the market opportunities. National and provincial plans and policies which extend the investment channels and reduce the risk can guarantee that the industrial funds can be running well. As a wholly state-owned investment company, the investment direction of company is able to be supported by policies, while also attracting a lot of private capital to participate. Yadong have established links with a number of companies for cooperation so that we can not only update new techniques and methods rapidly at any time but also integrate the resources both from internal and external when conditions are ripe. To some extent, this solves the problem that the amount of funding is shortfall. The first private equity fund in Jilin province - Tianyi fund which is running by Yadong could provide a set of mature experience for us. Now the bottleneck is the ability of staff which will exist in a short time. Through increasing advanced staff and internal training, the situation is going to be improved. And then the vision of company "becoming experts in investment and management, constructing the bridge between projects and capital" and long term strategic objective "By the end of 2015, the amount of assets under management rise up to 3 billion, the amount of independent investment rise up to 500 million and the profit reach 60 million" are created. In the final stage, the plan of the strategy is provided.Chapter 2: The orientation of investment decision-making system. This chapter rise from the purpose of fast and precise decision-making for company development, confirm that investment decision-making system is the basic platform of the company, according to some major principle and previous research results. Firstly, investment decision-making system is determined in the core function and the main functions after reaching on the background and investment process which is "investment", "investment decisions", "Investment Management". Then the development objective of the investment decision-making system is determined that is "firstly, establish a scientific, standardized and practical investment decision-making system; secondly, build a reasonable and strict evaluation mechanism; Next bring up a group of project managers who are trained, skilled and strategic; At last raise the profitability of the company and keep the development stable, sustainable and healthy in high speed." Finally, the organizational system of the investment decision-making system is constructed namely longitudinal three-tier-structure: Board of directors, Management department and the departments that submit the project proposal, and horizontal structure: the relationship with other system of company which support and link each other.Chapter 3: The management procedure of investment decision-making system. This chapter is the significant part of investment decision-making system designing. The management process is a common procedure that standardizes and guides the whole process of investment decision-making. The management procedure designs the flow chart of the investment decision-making which not only makes the project operational independently but also and clears the relationship between the supporting system and institution throughout the process of project operation. That forms a complete closed-loop management of bond. This chapter provides the approach of investment, investment decision-making committees, investment and management system and prescribes the relationship among equity management, subsidiaries and investment decision-making management process. The project selecting, due diligence, project decision-making, project management and project evaluation are all rule-based. The division of labor is used in subsidiaries and departments. A comprehensive design is designed for whole business operations of the company.Chapter 4: The docking between the investment decision-making system of Yadong and other systems. This chapter defined the supporting system of investment decision-making system including other systems and their sub-system as well as the system itself contains a series of sub-systems and management instrument. Investment decision-making system which is not an isolated system, together with other systems constitutes a new framework which link closely, mutually and form an organic system. The supporting system of other systems on the investment decision-making is proposed and the docking of the investment decision-making system in contact with other systems is illustrated.Conclusion: The conclusions are summarized and future directions are discussed. Throughout the exploration and design, the investment decision-making system is enriched, the resources are distributed rationally, the structure of management is improved and the effective investment management system is established. That could help Yadong achieve the investment objective rapidly and increase the core competitiveness of company. At present, the investment banking has not matured enough in China. To build an investment decision-making system is very complicated. So the research of investment decision-making system is long way to go. In future, the human factors and quantitative analysis method of investment company are worth to be discussed further. |
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