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  本文關鍵詞：國內私募股權投資基金并購退出研究　出處：《上海交通大學》2014年碩士論文　論文類型：學位論文

  更多相關文章： 私募股權投資 并購 退出

【摘要】：國內私募股權投資基金目前主要的退出方式包括IPO退出、并購退出、股權轉售、股東回購和清算等。其中IPO退出渠道由于投資回報顯著高于其他渠道，一直以來深受基金青睞。近年來國內證券市場一度暫停了IPO新股發(fā)行，基金偏好的IPO退出方式遇到不小阻礙。在此環(huán)境下，并購退出自2013年開始迅速崛起，吸引了國內基金密切關注，，有望在未來幾年發(fā)展成為國內私募投資主要退出渠道之一。 本文正是在當前國內投資退出環(huán)境背景下，重點研究私募股權投資的并購退出機制。本文主要分成五大部分，第一部分闡述分析國內私募股權投資行業(yè)發(fā)展歷程及退出現(xiàn)狀，引出并購退出機制研究的重要性；第二部分對國內外私募股權投資退出機制進行比較分析，包括國外私募投資退出方式概述，優(yōu)劣勢分析等；第三部分研究分析私募股權投資并購退出機制，重點研究并購退出的優(yōu)劣勢，以及并購操作程序等；第四部分分析國內私募股權投資基金并購退出案例,對硅谷天堂退出斯太爾、匯智創(chuàng)投退出凱力克兩個典型案例進行重點分析；第五部分總結提出本文研究結論，并針對國內私募股權投資基金參與并購退出提出相關對策建議。本文希望通過研究探討并購退出機制，為當前國內私募股權投資的退出實踐操作提供重要參考。
[Abstract]:Domestic private equity investment fund is currently the main exit way including IPO exit, exit the merger, stock repurchase and resale, shareholders liquidation. The IPO exit channels as investment returns was significantly higher than that of other channels, has been well received by the favor of the fund. In recent years, the domestic stock market was suspended for the IPO IPO, the fund preference IPO exit does not meet small obstacles. In this environment, mergers and acquisitions exit since 2013 began to rise rapidly, has attracted close attention of domestic funds, is expected in the next few years to become one of the main channels from domestic private investment.
This article is in the current domestic investment environment, focusing on private equity mergers and exit mechanism. This paper is mainly divided into five parts, the first part describes the analysis of the development of the domestic private equity industry and exit status, leads to the importance of the research of mergers and acquisitions exit mechanism; comparative analysis of domestic and foreign private equity investment exit mechanism second some, including an overview of foreign private capital exit, analysis of advantages and disadvantages; the third part of the analysis of mergers and acquisitions of private equity exit mechanism, focus on the advantages and disadvantages of M & exit, and merger and acquisition procedures; the fourth part is the analysis of the domestic private equity funds to exit the merger case, the Silicon Valley paradise exit Steyr, Huizhi kailike two venture capital exit a typical case are analyzed; the fifth part is the conclusion of this research conclusion, and for the country Internal private equity funds participate in mergers and acquisitions exit, and put forward relevant countermeasures and suggestions. This paper hopes to explore merger and exit mechanism through research and provide important reference for current domestic private equity investment exit practice.

【學位授予單位】：上海交通大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.51;F275

【參考文獻】

相關期刊論文 前3條

1 姚琦;;中美私募股權投資基金法律淺析[J];西部法學評論;2009年01期

2 丁響;;私募股權資本退出與公司治理因素關系的實證研究[J];上海金融;2009年01期

3 周永坤;王國建;;外資私募股權投資基金問題研究[J];上海金融;2009年02期

本文編號：1366681