本文選題：私募股權(quán)投資基金 + IPO停擺�。� 參考：《暨南大學(xué)》2014年碩士論文

【摘要】：私募股權(quán)投資基金是中小企業(yè)最主要的融資渠道之一，其運(yùn)作過程主要包括籌資、投資、管理和退出，其中退出是最為關(guān)鍵的一環(huán)。然而作為私募股權(quán)投資基金最為傾向的IPO退出渠道遭遇長達(dá)1年零2個(gè)月的停擺，對我國私募股權(quán)投資基金造成了巨大的影響。 文章是基于2012年10月至2013年12月國內(nèi)A股市場IPO停擺期間私募股權(quán)投資基金市場退出現(xiàn)狀，對經(jīng)典案例的分析和現(xiàn)實(shí)思考。文章首先簡單闡述了國內(nèi)外相關(guān)理論，并結(jié)合國內(nèi)情況，給出了私募股權(quán)投資基金的組織形式和運(yùn)作流程上的特點(diǎn)。然后通過收集最新行業(yè)發(fā)展數(shù)據(jù)，對我國私募股權(quán)投資基金的退出現(xiàn)狀做出對比分析和趨勢分析，并在數(shù)據(jù)分析的基礎(chǔ)上提出了并購?fù)顺龅奶攸c(diǎn)及優(yōu)勢。再通過剖析在此停擺期間得到成功退出的典型案例，，說明私募股權(quán)投資基金的退出渠道不僅僅只有IPO。最后在前文的理論和實(shí)際相結(jié)合的基礎(chǔ)上，得到了結(jié)論，即私募股權(quán)投資基金的退出可由多種渠道進(jìn)行，特別是并購?fù)顺鰧⑻娲鶬PO退出成為目前乃至未來我國私募股權(quán)投資基金退出的主要途徑。
[Abstract]:Private equity investment fund is one of the most important financing channels for small and medium-sized enterprises. Its operation process mainly includes financing, investment, management and exit, among which exit is the most critical one. However, as the most inclined exit channel of private equity funds, IPO exit has been shut down for as long as one year and two months, which has a great impact on private equity funds in China. This paper is based on the current situation of private equity fund market exit during the IPO shutdown period of domestic A share market from October 2012 to December 2013. Firstly, this paper briefly expounds the relevant theories at home and abroad, and gives the characteristics of the organization and operation process of the private equity investment fund in combination with the domestic situation. Then through collecting the latest industry development data, this paper makes a comparative analysis and trend analysis on the exit status of China's private equity investment fund, and puts forward the characteristics and advantages of merger and acquisition exit on the basis of data analysis. By analyzing the typical cases of successful exit during this shutdown, it is shown that IPO is not the only exit channel for private equity funds. Finally, on the basis of the combination of theory and practice, the conclusion is drawn that the withdrawal of private equity investment funds can be carried out by various channels. Especially, merger and acquisition exit will replace IPO exit as the main way of private equity fund exit in China.
【學(xué)位授予單位】：暨南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F832.51

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本文編號：2031871