国有创业投资风险管理研究

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1、ABSTRACTVenturecapitaliSderivedfrommodernfinanceinnovation．Asoneofaspecialformofcapitaloperations．ithasmadegreatcontributionsfortheincreaseofeconomyandespeciallythepromotionofhi．ghtechnology．VentureCapitalsrootedandsproutedinChinainthe1980sandafter20yearsofdevelopment,Chin

2、a’Sventurecapitalindustryhasmadeaprogressincertaindegree．CurrentlythemainstreamofdomesticventurecapitalsiSstillthestateownedenterprises．DuetoiIScharacteristicsofhigh—rateriskandlow．chanceSUCCESSofventurecapitalindustry,venturecapitalsgrowupinourcountrybychallengingalotofob

3、stacles．Hence．forthesuccessofstate-ownedventurecapitals．thecoresubjectiStorecognizetherisksandresearchtheriskmanagementmechanismintheiroperation．ThisPapel"setsthemainlinesastherisksandriskmanagementconfrontedandappliedbystateownedventurecapitals．Thenitexploreshowtoefficien

4、tlyapplytheriskmanagementtheoryintotheoperationsofstate-ownedventurecapitals．Intheresearch，itfirstdividedtherisksinventurecapitaloperationsintotwotypes，i．e．macrorisksandmicrorisks；thenitputtheemphasisofthestudyonthedecisionriskintheprojectassessment，theentrepreneurs’agentr

5、iskandmanagementriskofventureentitiesaswellasthecashoutriskforventurecapitals．Inviewoftheaboverisks，thepaperputsforwardcorrespondingriskmanagementstrategiesandsuggestions．ThispaperappliesrelevanteconomictheoryintothestudyandUSeSsystematicandcomparativeanalysismethodsasiIsm

6、ainanalysismethods．Besides，thepapermakesalotofqualitativeanalysisaidedbyquantitativeanalysisinthestudybyproperlycombiningthetheoriesandstrategies．ThestudyofmisPaperistryingtoexploreascientificriskmanagementmechanismforstate．ownedventurecapitalswhichcangraduallyeliminatethe

7、bottlenecksinthedevelopmentofstate．ownedventurecapitals，aSaresult，Canleadtheventurecapitalindustryintoapositivedevelopmentcycleandfinallyleadtheindustryintoasustainablemodeofgrowth．KEYWORDS：venturecapital；state-ownedventurecapitals；riskmanagementCLASSN0：独创性声明本人声明所呈交的学位论文是本

8、人在导师指导下进行的研究工作和取得的研究成果，除了文中特别加以标注和致谢之处外，论文中不包含其他人已经发表或撰写过的研究成果，也不包含为获得北京交通大学或其他教育机构的学位或证书