对我国发展天使投资的研究金融学专业论文.docxVIP

摘要天使投资起源于19世纪的纽约百老汇，目前在欧美及亚洲新兴 摘要 天使投资起源于19世纪的纽约百老汇，目前在欧美及亚洲新兴 国家和地区得到了迅速发展。它是一种私人权益资本投资，一般在风 险投资之前介入初创企业，对初创企业的成立发展具有重要作用。 本文深入分析了我国现阶段民间资本和中小企业的现状，认为我 国蕴藏着数量巨大的民间资本，持有者有保值增值的愿望，但是投资 渠道非常有限；而目前中小企业获得银行贷款的难度又很大，面临着 融资难的问题。鉴于此，本文详尽地剖析了天使投资方式在国外产生 发展的状况，以及这种投资方式对经济发展所具有的作用。作者认为， 天使投资作为一种民间投资方式，能更为有效地解决我国现阶段民间 资本和中小企业之间资金供求的矛盾，我国有必要对这种投资方式进 行推广发展。 本文对浙江省慈溪市民间资本的状况和天使投资人的市场行为 特征进行了剖析，研究发现当地天使投资已有一定程度的发展，但是 和天使投资发展较为成熟的国家相比，还存在很大差距：当地天使投 资人投资动机局限，投资领域非常狭窄，投资频率低，还没有职业天 使投资人的出现，对于投资回报预期不明确，尚未具备长期投资的投 资心理。针对这种现状，本文提出了有效引导我国民间资本向天使投 资领域转移的措施。 关键词天使投资，民间资本，中小企业融资，浙江慈溪 AB AB STRACT Angel Investment which was originated in 1 900’S Broadway is developing rapidly in occident and emerging Asian countries nowdays． As an investment of private equity,angel investment capital is invested before the venture capital．hence it iS important to start．ups． The paper deeply analyses the status both of our country’S informal sources of capital and SMEs．There iS huge informal sources of capital in our country and the holders have desirability to make it incremental． however,the investing channel is limited．Meanwhile．the SMEs face the financing problem since it iS difficult for them to get loan from banks． Herein，Angel Investment，the equity investment mode，which is brand new in China is introduced in the PapeL Moreover,the development and the effect of such an investment mode is analysed．The author consider angel investment call effectively alleviate the conflict of capital supply and demand between informal sources of capital and SMEs．Therefore there iS need to spread such an investment mode in our country． The empirical study analyses the status of informal sources of capital and the market behavior characteristics of angel investors in Cixi， Zhej iang Province．It concludes that the angel investment has developed in certain degree，however,it still lags the advanced markets．It is caused both by subjective and objective factors．In order to improve angel investment in China．some advice iS made a