Research On Post-investment Management Of Private Equity Fund In China

In recent years,China's private equity fund investment market presents the vigorous development trend,development is fast,so in many ways and there are considerable gaps when compared with Europe and the United States devel oped countries,the industry still exist many problems,particularly in private eq uity investment institutions tend to have the problem of "heavy investment,lig ht management",cast after management enthusiasm is not high.And academics to private equity funds for the management of the related research is less,aft er the private equity investment management is lack of necessary theoretical su pport and guidance,at the same time,along with our country private equity fu nds and the development of new three board,in the private equity investment,a single fund investment and the needs of the enterprises have been unable to match,the common situation is that a number of private equity investment fu nd joint venture enterprise,therefore,widely used in the study of the traditiona l single private equity funds and the single was for enterprise analysis of the t wo sides have not be able to solve the current problems,we need to further e xpand.Therefore,based on the study of a large number of domestic and foreign management after the private equity investment,on the basis of related researc h literature,a detailed summary of the analysis of the present development of private equity funds after the vote,from the management the necessity,the sho ts after the management way and the relation of game model,cast after manag ement and existing problems of a total of five aspects to one by one,meticulo us,through the above analysis,the conclusion is: after the private equity fund investment management phase is the core of the problem,because the private equity funds and was commissioned-agent relationship between enterprises,co mbined with the widespread problem of asymmetric information,both sides can not timely and effective to master the relevant information of the other party,it is likely to lead to moral hazard problem;In addition,the development of private equity investment funds in China is late and developing rapidly,which makes the development level of private equity investment fund uneven and theprobability of moral hazard increased.Between multiple private equity funds a nd financing companies benefit from financing enterprise profit,and the stand or fall of enterprise operating performance depends not only on their own,dep ends more on investment enterprises in addition to provide the necessary funds can provide valuable value-added services,so as to optimize the enterprise's fi nancial position,the two sides of the importance of the status,facing the risk of moral hazard;Creates shots after still exist many problems in the managem ent,this article will research focus after why want to strengthen the investment management,how to avoid the moral hazard problem,improve the cast after management after the effort and supervision level,how to strengthen managem ent,etc.In this paper,a new three board enterprises as an example,from priv ate equity investment in the new three board enterprise present situation,also often exist several private equity investment fund joint venture enterprise,there fore,in this paper,several private equity funds with a single was cast enterpris e of dynamic game theory as the starting point,the cooperative game and non-cooperative game two kinds of research methods,through exploring the game mechanism and the design of the interest distribution mechanism,so as to expl ain and solve the moral hazard problems,according to the pitch after the mora l hazard in management and a series of problems of the current related counte rmeasures and Suggestions are put forward.