Look At The Exit Of Venture Capital, Exit Timing And Exit

Knowledge economy is spring up vigorously and has become an important trend of the development of the world economy, so high-tech industry has become the focus of global economy. Venture Capital (VC) springs up in order to transform high-tech to real productivity. Under the proposal of the government of our country, VC has made substantial progress. However, because there has not effective retreat mechanism, the retreat channel of VC is not easy and smooth. It restricts the development of VC industry seriously. So it is important to absorb the advance research production about retreat mechanism of VC from abroad for reference and study the retreat time and retreat methods deeply and systematically in order to put forward the countermeasures and steps to build the VC's retreat mechanism in our country. It has important theoretical value and real significance to push forward the development of VC industry and promote the progress of the industrial to science and technology of our country.By relating Foreign advance experiences with our actual situation, this thesis make a deeply study of VC's retreat system. It aims at providing a thought about the retreat operation of VC in china. It will be proved to be pertinence and practicable in the establishment and perfection for our VC's retreat mechanism.There are five sections in this thesis.Section 1 is about the background and frame of this thesis.An overview of VC and VC's retreat is given in section 2. Firstly, this thesis gives a definition of VC and its characteristics, together with some chart about the working processing of VC. Then, the important of VC's retreat is analyzed. Last, the status quo of retreat in china is recounted and problem is analyzed deeply.An deeply study on retreat time and retreat methods of VC in section 3, there are several main retreat methods of VC revealed for detail, such as IPO, sales of enterprises, stock transfer and bankrupt liquidation. Meanwhile, by comparing and researching these methods, it points out the advantage and disadvantage of them. The research is focused on the choice of retreat methods and retreat time. In this section, I answer three main problems. Firstly, How to operate VC's retreat in the west developed country. Secondly, What decide the VC's retreat arrange. Thirdly, why do the actual retreat arrange in existence.In section 4, some reasonable suggestions and countermeasures are also proposed to strengthen china's retreat mechanism of VC.In section 5, retreat planning concentrating on the implementation of steps is put forward.