国际风险投资在中国的行为研究-国际法学专业论文.docxVIP

、s3‰摘要 、s3‰ 摘要 进入二十一世纪，高新技术产业的发展已成为推动世界经济发展的一支越来 越重要的力量，也成为关系到我国能否在当今激烈的国与国之间的竞争中站稳脚 跟的决定性因素。发达国家的经验表明。高新技术产业的发展要有一种与其相适 应的新的融资渠道——风险投资。风险投资是高新技术产业发展的原动力。目前， 我国国内的现实情况是：风险投资事业刚刚起步，远远不能满足我国亟待发展的 高新技术产业的需要，特别是风险资本的匮乏成为制约我国高新技术产业发展的 瓶颈。政府有限的财力，金融系统自身的风险考虑，民间资本的保守性，决定了 它们在目前阶段不能完全解决这一问题。因此，尽量多的吸引国外的风险资本进 入中国，应该是我们考虑的解决这一问题的思路之一。基于这个出发点，本文首 先详细分析了已在华投资的国际风险资本的投资行为特征、投资动因、以及它们 在投资过程中的决策方法。然后分析了国际风险资本进入我国对我国带来的影 响，以及它们在我国遇到的种种障碍。最后在此基础上，就如何制定政策，以便 吸引更多的国际风险资本进入中国提出了作者的一些建议。 关键词：国际风险投资，高新技术产业，二板市场，退出渠道，风险投资机制， t 海外上市，投资动因，投资障碍 AbstractIn Abstract In 21 century， high—techn0109y industry plays a more and more important r01e in pushing the world economy forward．And it becomes the key factor to decide whether China can stand in the international world． High—techn0109y industry’s developⅢent in deVeloped country shows that it needs a special financing method一一venture capital as its capital resource． Venture capital is the original propulsive force of the high techn0109y industry． No唧in China， venture capital business is just in its start period． The 1ack of vent乙ire capital becOmes the“bottle neck” of the develoDment’of China’s high—technology industry． The limited financing from the government、the safety consciousness of the bank system and the conservatism of the civilian caDital have decided that we must cast our sight to overseas venture capi tal． 0verseas venture capital should be an important capital resource of our high technology industry． For this reasOn， this paper analyzes the invested—in—China foreign venture capital，including its investing character、investing motivation、 and its investing strategy．After that， this paper analyzes the effects that the foreign venture capital brought to China and the obstructions that it encountered in china．Based on the research above， the paper then presents the method and the p01icy that we should adopt in order to attract more foreign venture capital to China． 】(ey Words： international venture capital， high—technology industry，