本文選題：私募股權(quán)投資　切入點(diǎn)：投資價(jià)值評(píng)估　出處：《電子科技大學(xué)》2014年碩士論文

【摘要】：可穿戴設(shè)備是指綜合運(yùn)用各類識(shí)別、傳感、連接和云服務(wù)等交互及儲(chǔ)存技術(shù),以代替手持設(shè)備或其他器械,實(shí)現(xiàn)用戶互動(dòng)交互、生活?yuàn)蕵?lè)、人體監(jiān)測(cè)等功能的新型日常穿戴設(shè)備(眼鏡、手表、腕帶等)。其中可穿戴醫(yī)療健康設(shè)備更是成為了市場(chǎng)的新一輪熱點(diǎn),得到了大量市場(chǎng)關(guān)注。我國(guó)作為新興的消費(fèi)大國(guó),國(guó)內(nèi)眾多高科技企業(yè)與投資機(jī)構(gòu)都對(duì)此市場(chǎng)關(guān)注已久。然而傳統(tǒng)的融資方式并不合適于高科技公司,也不能完全滿足新興市場(chǎng)的眾多初創(chuàng)型公司。因此高科技行業(yè)公司急需尋找新的融資方式。中國(guó)目前已成為全球最為活躍的新型經(jīng)濟(jì)體,也是私募股權(quán)投資最為重要的投資市場(chǎng)。越來(lái)越多的資金進(jìn)入到私募股權(quán)投資基金(PE)領(lǐng)域,作為投資于初創(chuàng)型高新科技企業(yè)的風(fēng)險(xiǎn)投資資金更是得到了極大的發(fā)展。私募股權(quán)投資基金近年來(lái)在中國(guó)進(jìn)入快速發(fā)展期,隨著資金總量大幅度增加,投資范圍也隨之增大。私募股權(quán)投資基金的投資對(duì)象也從傳統(tǒng)的大中型國(guó)有企業(yè)向民營(yíng)企業(yè)特別是高科技行業(yè)傾斜。對(duì)于處于無(wú)抵押能力階段的企業(yè)來(lái)說(shuō),私募股權(quán)投資融資比其他融資方式自由度高,因而對(duì)其具有更大的吸引力。本文選取了SP公司作為可穿戴行業(yè)的初創(chuàng)型公司典型案例,希望通過(guò)對(duì)SP公司投資價(jià)值分析,給私募股權(quán)投資基金對(duì)此類企業(yè),特別是可穿戴設(shè)備初創(chuàng)型公司做投資分析提供一種思路和方法。本文采用絕對(duì)估值法(DCF)和相對(duì)估值法(市盈率)對(duì)SP公司進(jìn)行研究,判斷SP公司是否具有投資價(jià)值。并通過(guò)以SP公司為案例分析,對(duì)于今后對(duì)可穿戴行業(yè)的初創(chuàng)型高科技公司投資價(jià)值分析具有參考價(jià)值。
[Abstract]:Wearable devices refer to the comprehensive use of all kinds of identification, sensing, connection and cloud services and other interactive and storage technologies to replace handheld devices or other devices, to achieve interactive user interaction, life and entertainment, A new type of daily wear equipment (glasses, watches, wristbands, etc.) with functions such as human body monitoring. Among them, wearable medical and health equipment has become a new hot spot in the market and has gained a lot of market attention. Many high-tech enterprises and investment institutions in China have been paying close attention to this market for a long time. However, traditional financing methods are not suitable for high-tech companies. Nor can they fully satisfy the many start-ups in emerging markets. So high-tech companies urgently need to find new ways to raise money. China has become the most active emerging economy in the world. It is also the most important investment market for private equity investment. More and more money goes into the private equity investment fund (PEE). As a venture capital invested in start-up high-tech enterprises, private equity investment funds have entered a period of rapid development in China in recent years, with the increase of the total amount of funds by a large margin. The scope of investment has also increased. The investment target of private equity investment funds has also shifted from the traditional large and medium-sized state-owned enterprises to private enterprises, especially high-tech industries. For enterprises in the stage of unsecured ability, Private equity investment financing has more freedom than other financing methods, so it has more attraction to it. This paper selects SP company as a typical case of wearable start-up company, hoping to analyze the investment value of SP company. This paper provides a way for private equity funds to analyze the investment of such enterprises, especially wearable start-up companies. In this paper, the absolute valuation method and the relative valuation method (P / E ratio) are used to study SP Company. Judging whether SP company has investment value or not, and taking SP company as a case study, it has reference value to the investment value analysis of wearable industry start-up high-tech company in the future.
【學(xué)位授予單位】：電子科技大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F426.6;F406.7

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本文編號(hào)：1654029