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The Entrepreneurial Finance System Of The University Sci-tech Park Led By Venture Capital

Posted on:2015-01-19Degree:MasterType:Thesis
Country:ChinaCandidate:X L YangFull Text:PDF
GTID:2309330503955608Subject:Business Administration
Abstract/Summary:PDF Full Text Request
At present, our country is at a critical moment to adjust the industrial structure, transform the mode of economic development, activate the independent innovation and improve the core competitiveness of enterprises, high-tech enterprises as the main carrier of technological innovation, have made outstanding contributions to China’s economic structure adjustment. The University Sci-tech Park as an important part of independent innovation system with enterprises, has many important functions, such as: business incubator, the cultivation of innovative talents, and the development of the regional economy and so on. After recent years of development, the University Sci-tech Park has achieved fruitful results, so it is an indispensable part of the modern financial system to support the real economy development. But the enterprises in the University Sci-tech Park is still faced with the financing bottleneck at the same time, in spite of they can enjoy the preferential treatment in hardware facilities, the main manifestations are the short of internal financing, the lack of debt market, the restricted debt market and the impeditive stock market financing. This is far from meeting the financing needs of the pre-start-up enterprises. This caused many scientific and technological achievements of high technology content and good market prospects are not funded, thus they can not make the market achieve results come true.In fact, the economic market in china is not lack of funds, what they need are delivery system which can allocate the capital to venture enterprises. What we cannot be ignored is that our traditional finance is more willing to focus on the traditional enterprises, and holds a conservative attitude to the high-risk of the venture enterprises, listed companies and large mature companies which are not lack of innovation funding, ignoring the high scientific and technological achievements, potential development, large market risk start-ups venture enterprises. Therefore, establish a financial system of the University Sci-tech Park, to solve the financing problem from the venture capital market system, has important theoretical and practical significance.The whole paper is divided into six parts:The first part: one is the research background, purpose and significance of this paper; two is to summarize the research status; three is to build the framework of this article, research ideas and research methods.The second part: the venture capital theory, enterprise financial theory, technology and financial theory, regional economic theory and park development theory are summarized as the theoretical basis of the thesis involved; venture capital, Entrepreneurial Finance and University Sci-tech Park and other key concepts; the relationship between the venture capital and financial innovation, entrepreneurial finance, University Sci-tech Park are carried out.The third part: expounding the present development situation of the University Sci-tech Park, China’s venture capital investment in China and China’s entrepreneurial finance, including its development achievements, problems and causes, analysis of the feasibility about venture capital leading entrepreneurial finance, helping the venture enterprise financing of the University Sci-tech Park from the current situation.The fourth part: Building the financial system of the University Sci-tech Park which is led by Venture Capital. This chapter establishes the financial system which is led by Venture Capital and use the linear regression model to analyze the feasibility of this model.The fifth part: the evaluation the level of Venture Capital in the University Sci-tech Park in our country. The paper designs evaluation index from venture investment scale, structure and efficiency. Select the Park-related dates, using the factor analysis model, analysis the investment output ability, venture capital supply ability, venture investment support innovation and the University Sci-tech Park venture capitalists capacity; then according to the analysis results, coming up with policy recommendations to improve venture investment service level of the University sci-tech Park.The sixth part: the main ideas and innovations are summarized, and pointing out the shortage of the thesis, making a prospect for the future research.
Keywords/Search Tags:Venture capital, Technological innovation, Entrepreneurial finance, University Sci-tech Park
PDF Full Text Request
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