Research On Performance Evaluation Of Venture Capital

Venture capital is a key force to improve financial quality and stimulate economic vitality by carrying investment risks and supporting enterprise innovation through highly dispersed market investment activities to the real economy.In recent years,under the guidance of the policy of " Widespread Entrepreneurship and Innovation",the lead of market supervision has been strengthened,the expansion of the new third board,the scientific innovation board and the implementation of relevant policies have promoted the continuous growth of the venture capital industry,and the performance evaluation of venture capital has become extremely important-can not only promote the development of venture enterprises,but also can provide the basis for the major decision of venture capital.The research on the evaluation of venture capital mainly focuses on the evaluation and selection of projects before venture capital and the selection of quantitative analysis method of venture capital performance evaluation.In this thesis,the whole process of venture capital operation is fully considered.The research focuses on the continuous tracking and evaluation of projects after venture capital investment,and a performance evaluation system covering all indicators is established based on the characteristics of venture capital industry.This thesis introduces the selected topic background,significance and the innovation points,and then expounds the concept of risk investment and risk investment performance evaluation related theory,and reviews the related research at home and abroad are summarized in,on the basis of mining problems existing in current performance evaluation index system of risk investment,analysis the improvement direction from the perspective of the choice again,combined with China's national conditions and characteristics of risk investment industry and put forward the financial situation,management ability,innovation ability,market competition ability,social capital,the economic benefits,the enterprise growth and so on seven dimensions 36 indicators.Data were collected through network questionnaire,membership analysis and correlation analysis were flexibly used to select and eliminate the indicators that were not highly correlated with the project evaluation,and then the comprehensive weight of each indicator was obtained by the method of order relationship analysis,and the performance evaluation model of venture capital was established by using the grey system theory.After that,Z company was selected for application analysis to verify the effectiveness of the model and put forward relevant countermeasures and suggestions for its more effective operation.Finally,the research results of this thesis were summarized,the shortcomings and limitations of this thesis were analyzed,and the future research direction was proposed as a reference for the follow-up research on venture capital performance evaluation.