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Study On China Corporate Venture Capital

Posted on:2017-01-17Degree:MasterType:Thesis
Country:ChinaCandidate:R Q XuFull Text:PDF
GTID:2359330512963836Subject:Finance
Abstract/Summary:PDF Full Text Request
According to the statistics of the first half part of 2016,corporate venture capital,whose history is no longer than 30 years in China,has accouted for 24.7% of the whole venture capital market in terms of the total investment.With corporate venture capital has become the pillar of China venture capital market,due to short history,new situation,and few examples,there is no sufficient study on China corporate venture capital,nor targeted guidelines in the forms of policies,laws,or regulations.Therefore,it is of great value to systematically analyze the characteristics and development trend of China corporate venture capital with a typical case against the current market background for listed companies which will participate in venture capital investment,small innovative startups which may accept venture capital,as well as the policy makers.Through literature research and case analysis,this thesis studies the policy environment,development trend and unique characteristics of China corporate venture capital.It includes five parts: the first part is an introduction of the background and issues to address;the second part is a literature review regarding studies on corporate venture capital home and abroad;the third part is basic theories which will be used in the thesis;the four part is the Lenovo case analysis,which can help explain the characteristics of China corporate venture capital;and the last part is study conclusion and some suggestions on policy.The purpose of this thesis is to make company managers and policy makers fully realize the importance of China corporate venture capital,and help them grasp its characteristics and development trend,so as to make right decisions.According to this thesis,parent companies need to define their investment targets,and choose proper investment mode in accordance with the targets,and then update machanism based on national conditions and company features,so as to bring China corporate venture capital's advantages into full play.Through Lenovo case,successful corporate venture capital should pay attention the coordination of strategic investment and financial investment,which should be in chargerd by different departments or organizations,in order to let both investment modes service the parent company's whole strategy;else,appropriate motivate mechanisms should be incorporated to keep excellent venture capital personnel,and effective value-added services should be provided to help the invested enterprise's development.Besides,the government should put more emphasis on the roles on corporate venture capital towards economy and innovation,issue related policies,laws,and regulations,so as to regulate the market,lower the risks cased by asymmetrical information,and release corporate vigour and innovation.
Keywords/Search Tags:Corporate Venture Capital, Venture Capital, Venture Capital Motivation, Venture Capital Mode, Lenovo
PDF Full Text Request
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