中国私募股权投资基金动作机制研究_MBA学位论文.doc

昆明理工大学MBA学位论文 中国私募股权投资基金动作机制研究 PAGE PAGE iii 分类号______________ 密级_______________ U D C_______________ 硕士学位论文 中国私募股权投资基金运作机制研究 摘 要 私募股权投资基金是一种新形式的金融创新工具，与资本全球化发展之间的关系密不可分。私募股权投资基金能够促进我国产业结构调整，并且能够为我国企业在公司的结构优化与管理起到一定的推动作用，同时也为我国企业融资渠道的拓展产生促进作用。在一些市场化程度非常高的发达国家，私募股权投资基金的发展所带来优势不止上述所列的那些。伴随着我国经济的快速增长以及企业的发展，这些都对我国的资本市场提出了更高层次的要求。 本文主要是针对目前我国私募股权投资基金运作机制中存在的问题进行客观分析，使用综合归纳与具体分析方法。首先对本文研究背景以及研究意义进行介绍；其次，对私募股权投资基金运作机制国内外的研究现状进行分析，并且介绍私募股权投资基金概念，并对私募股权投资基金运作机制进行描述，同时介绍委托代理、逆向选择和道德风险理论；然后分别从组织机制、筹资机制、投资机制以及退出机制这四个方面进行分析，使用综合归纳与具体分析相结合的研究方法分析存在的问题，并提出具有针对性的建议和措施；最后对全文进行总结。通过对私募股权投资基金运作机制的研究，能够为我国本土私募股权投资基金在运作机制的建设和改进提供一定的参考和借鉴，同时也能够为我国私募股权投资基金在竞争力的提升上提供些许的建议。 关键词:私募股权投资基金；运作机制，控制 Abstract Private equity investment fund is a new form of financial innovation, the inextricable relationship with the development of the capital globalization. Private equity investment fund promotes Chinas industrial structure adjustment, and able to play a certain role in the optimization and management of Chinese enterprises in the structure of the company, and can expand the financing channels for enterprises in China. In some very high degree of market of the developed countries, the development of the private equity investment fund’s advantages ,not only those listed above. Along with Chinas rapid economic growth and the development of enterprises, which need a higher level of demand in Chinas capital market. This article objectively analysis the problems of the private equity funds operating mechanism, using the analysis method synthesis of specific analysis. Firstly, the background of this study and the research significance are introduced; Secondly, to analyze the research status of private equity investment fund operation mechanism, and introduces the concept of private equity funds, and private equity investment fund operation mechanism described also introduced the commissioned agents, adverse selection and moral hazard theory; from th