Research On Cross-border Trading Model Of Private Equity Institutions In China

Private equity investment originated in the United States in 1920 s and has developed rapidly in the world.With the development of China's economy,China's private equity institutions have also developed rapidly,and cross-border transactions have become an important part of their business.This paper studies the situation of cross-border transactions of private equity institutions in China,and studies the characteristics,motivations and modes of cross-border transactions of private equity institutions in China by using case law.The results show that the main motivations of cross-border transactions of private equity institutions in China are financial investment,strategic investment,evasion of regulation and reputation enhancement.The SERF motivation-driven model is proposed to study the cross-border transaction motivations of private equity institutions in China,and three transaction modes adopted by private equity institutions in China are introduced in detail: PE-led transaction mode,"company + PE" mode and "controlling shareholder + PE" mode.Then it explores the transaction motivation behind various modes with SERF motivation-driven model and search for their relevance.Finally,it puts forward corresponding policy suggestions from the perspective of private equity institutions and the government,with a view to promoting the development of cross-border transactions of private equity institutions in China.