本文選題：政府創(chuàng)業(yè)投資引導(dǎo)基金 + 績(jī)效評(píng)價(jià)��； 參考：《貴州財(cái)經(jīng)大學(xué)》2017年碩士論文

【摘要】：當(dāng)前,我國(guó)已邁入中等收入國(guó)家行列成為了名副其實(shí)的經(jīng)濟(jì)大國(guó)。但是,隨著人口紅利的逐漸消失、國(guó)際經(jīng)濟(jì)局勢(shì)的持續(xù)變化,我國(guó)正面臨著“中等收入陷阱”的困境,經(jīng)濟(jì)發(fā)展在內(nèi)外因素的混合作用下正步入“新常態(tài)”,迫切需要深刻轉(zhuǎn)變發(fā)展方式。黨的十八大明確提出以創(chuàng)新驅(qū)動(dòng)發(fā)展戰(zhàn)略助力經(jīng)濟(jì)進(jìn)一步增長(zhǎng),習(xí)近平總書(shū)記在2016年1月指出以供給側(cè)結(jié)構(gòu)性改革刺激社會(huì)生產(chǎn)力的提高。在這一背景下,我國(guó)政府創(chuàng)業(yè)投資引導(dǎo)基金進(jìn)入了飛速發(fā)展階段,在2015年期間,我國(guó)新設(shè)立的政府創(chuàng)業(yè)投資引導(dǎo)基金數(shù)量和規(guī)模分別達(dá)到2014年的2.83和5.24倍。政府引導(dǎo)基金又稱創(chuàng)業(yè)投資引導(dǎo)基金,通過(guò)引導(dǎo)資本對(duì)創(chuàng)業(yè)企業(yè)進(jìn)行投資以助力經(jīng)濟(jì)改革順利開(kāi)展,在激勵(lì)新興產(chǎn)業(yè)的同時(shí)調(diào)控市場(chǎng),是我國(guó)當(dāng)前階段創(chuàng)新驅(qū)動(dòng)發(fā)展戰(zhàn)略、供給側(cè)結(jié)構(gòu)性改革得以順利實(shí)施的重要?jiǎng)恿Α６捎诎l(fā)展較晚和體制限制,我國(guó)政府創(chuàng)業(yè)投資引導(dǎo)基金在運(yùn)行中還存在著一定不足,其中績(jī)效評(píng)價(jià)體系不完善是主要問(wèn)題之一。而對(duì)引導(dǎo)基金進(jìn)行績(jī)效評(píng)價(jià)則是實(shí)現(xiàn)其健康、規(guī)范成長(zhǎng)的有效途徑,本文的研究一方面補(bǔ)充了學(xué)術(shù)領(lǐng)域中政府創(chuàng)業(yè)投資引導(dǎo)基金績(jī)效評(píng)價(jià)方面的缺乏,另一方面根據(jù)實(shí)證結(jié)果提出優(yōu)化引導(dǎo)基金效率的理論參考,進(jìn)而為政府創(chuàng)業(yè)投資引導(dǎo)基金的發(fā)展出謀劃策。本文主要從以下方面展開(kāi)研究:首先,運(yùn)用準(zhǔn)公共產(chǎn)品理論分析政府創(chuàng)業(yè)投資引導(dǎo)基金設(shè)立的必要性及其作用,并分析運(yùn)行中存在的風(fēng)險(xiǎn);其次,結(jié)合相關(guān)理論與現(xiàn)有研究成果選取引導(dǎo)基金績(jī)效評(píng)價(jià)指標(biāo)并使用因子分析法構(gòu)建指標(biāo)體系;最后,使用DEA模型與多元線性回歸模型相結(jié)合的實(shí)證方法對(duì)所搜集到的41支參股支持模式下的政府創(chuàng)業(yè)投資引導(dǎo)基金子基金投資記錄樣本數(shù)據(jù)進(jìn)行評(píng)價(jià)研究;在此基礎(chǔ)上提出當(dāng)前政府創(chuàng)業(yè)投資引導(dǎo)基金在運(yùn)行中可能存在的問(wèn)題和相應(yīng)的改進(jìn)建議。根據(jù)研究,本文發(fā)現(xiàn)樣本引導(dǎo)基金面臨的主要問(wèn)題是創(chuàng)投機(jī)構(gòu)管理水平不足和企業(yè)的資本利用率低下,其原因可能在于政策限制條件偏多、市場(chǎng)化水平不足、創(chuàng)新企業(yè)規(guī)模尚小等方面。因此,本文認(rèn)為應(yīng)從以下幾個(gè)方面改善政府創(chuàng)業(yè)投資引導(dǎo)基金的運(yùn)行現(xiàn)狀:1.適當(dāng)放寬限制,擇優(yōu)選擇創(chuàng)投機(jī)構(gòu)及投資對(duì)象;2.強(qiáng)化政府創(chuàng)業(yè)投資引導(dǎo)基金的市場(chǎng)化運(yùn)作水平;3.加強(qiáng)監(jiān)管,規(guī)范引導(dǎo)基金運(yùn)作;4.增強(qiáng)投資管理。
[Abstract]:At present, China has entered the ranks of middle-income countries to become a real economic power. However, with the gradual disappearance of the demographic dividend and the continuous changes in the international economic situation, China is facing the dilemma of "middle-income trap", and economic development is entering the "new normal" under the mixed action of internal and external factors. There is an urgent need for a profound transformation of the mode of development. The 18th National Congress of the Communist Party of China explicitly put forward the strategy of innovation-driven development to boost economic growth. In January 2016, General Secretary Xi Jinping pointed out that supply-side structural reforms were used to stimulate the improvement of social productivity. In this context, the government venture capital guidance fund has entered the rapid development stage. In 2015, the number and scale of the newly established government venture capital guidance fund reached 2.83 and 5.24 times of 2014 respectively. The government guide fund, also known as venture capital guide fund, is the strategy of innovation-driven development in our country at present stage, which can help the economic reform to carry out smoothly by guiding the capital to invest in the venture capital enterprise, and to control the market while stimulating the new industry. Supply-side structural reform can be implemented smoothly an important driving force. However, due to the late development and institutional constraints, there are still some deficiencies in the operation of the government venture capital guiding fund, among which the imperfect performance evaluation system is one of the main problems. The performance evaluation is an effective way to achieve its healthy and normative growth. On the one hand, the research in this paper complements the lack of performance evaluation in the academic field of government venture capital guidance fund. On the other hand, according to the empirical results, the paper puts forward the theoretical reference to optimize the efficiency of guiding funds, and then makes suggestions for the development of government venture capital guiding funds. This paper mainly carries out the research from the following aspects: firstly, using the quasi-public goods theory to analyze the necessity and function of the government venture capital guiding fund, and to analyze the risk existing in the operation; secondly, Combined with relevant theories and existing research results to select guide fund performance evaluation indicators and use factor analysis to construct the index system; finally, Using the DEA model and the multiple linear regression model, the paper evaluates the sample data of the government venture capital guide fund investment record under the 41 stock participation support model. On the basis of this, this paper puts forward the problems and corresponding improvement suggestions of the current government venture capital guiding fund in operation. According to the research, this paper finds that the main problems faced by the sample guide fund are the insufficient management level of venture capital institutions and the low utilization rate of capital of enterprises, which may be due to the lack of policy restrictions and the insufficient level of marketization. The scale of innovative enterprises is still small. Therefore, this paper believes that the following aspects should be improved from the government venture capital guidance fund operation status quo: 1. Appropriate relaxation of restrictions, the best choice of venture capital institutions and investment objects. Strengthen government venture capital guide fund market operation level is 3. Strengthen supervision, standardize and guide the operation of the fund. Strengthening investment management.
【學(xué)位授予單位】：貴州財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F812.5;F279.2

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本文編號(hào)：1915491