Research On The Optimizing Of Project Risk Control System For Venture Capital Corporation

Venture capital investment(VCI)is an investing-financing method combined innovative elements(technology,capital,human resource and management)with start-up enterprises.As an important capital force for mass entrepreneurship and innovation,VCI also enhances the transformation of scientific and technological innovation.Moreover,VCI has positive relationship with new kinetic energy cultivation,steady economic growth,employment enlargement and fulfillment of new development concept,innovation driven development strategy and structural reform of the supply front.In recent years,the fast development China'VCI has contributed to financing channels expanding of start-up enterprises,economic restructuring,industrial transforming and upgrading,enhancement of new kinetic energy for economic development;it also positively affect on increase of direct financing proportion,private investment on real economy,entrepreneurship and innovation and employment enlargement.However,problems still exist which contain imperfect law and regulation,imperfect policy environment,regulatory system and industry credit system lagging behind the industry development,investment bubble and illegal fundraising risk.This study aimed to investigate measures to optimize investment risk control of ZS Venture Capital Corporation(ZS Co).For one part,related concepts and basic theories were organized.Firstly,concepts were elaborated in detail that the connotation,feature,operation mode of VCI,connotation of risk in venture capital investing and type of risk in venture capital investing.Secondly,three theories and their meaning for our study were clearly analyzed,which consists of enterprise life cycle,information asymmetry and enterprise risk management.On the other part,total situation of ZS Co,basic situation of investing activities(fund management and capital investment)and investment risk management system(target,principle,organizational structure and operation mechanism)in ZS Co were detailed explained.Based on related situations of ZS Co,we analyzed problems and their causes in ZS Co investment risk management system.The following problems exist in ZS Co investment risk management system:target being conservative,organizational structure being inefficient and unscientific and operation mechanism fault existing.After studied on these problems,the causes of them were discovered.External causes are unreasonable fund investor structure,new stock releasing problem in secondary stock market and white-hot VCI market competition.Internal causes are company system being rigid,lacking of concern on risk control and fund size managed by ZS Co being small.Totally,measures were proposed to optimize risk control system in ZS Co according to the mentioned analysis.First,the target and principle of investment risk management system should be determined clearly.Second,the organization structure of investment risk management system should be completed.Third,the index system for project risk assessment demand to be established.Four,ZS Co should optimized the whole progress of investing risk control,in another words,to do risk control before and after investment,and to manage the risk during investment withdrawal period.