| 研究生: |
劉耀中 |
|---|---|
| 論文名稱: |
中國大陸私募股權產業個案研究 A Case Study on Private Equity Industry in China |
| 指導教授: |
陳威光
Chen, Wei Kuang 周行一 Chow, Edward H. |
| 學位類別: |
碩士
Master |
| 系所名稱: |
商學院 - 金融學系 Department of Money and Banking |
| 論文出版年: | 2014 |
| 畢業學年度: | 102 |
| 語文別: | 中文 |
| 論文頁數: | 82 |
| 中文關鍵詞: | 私募股權 、中國大陸 、個案研究 |
| 相關次數: | 點閱:75 下載:13 |
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中國大陸在過去幾年以卓越的成長率快速成長,也吸引外資私募股權基金湧入中國大陸市場。然而,整體私募股權投資的報酬並沒有預期中如此豐碩。相反地,外資私募股權在中國大陸遭遇到許多挑戰,例如文化差異造成資訊取得困難、不成熟的投資環境導致投資評估難以進行以及政府政策的限制阻礙了外資私募的投資以及退場策略的選擇。
原本在美國從事私募股權投資的馬克在2009年進入中國大陸市場,在面對這些挑戰的同時,正思考外資私募股權基金該如何調整其營運策略去克服這些來自投資環境、當地文化以及政府政策的挑戰以及歸納出外資私募股權在中國大陸投資成功的主要影響因素與未來發展可能帶來的影響。
In the past few years, the amazing GDP growth rate of China attracted many foreign private equity funds to enter the market and expect to make a lot of money. However, the return was below the expected return and there were several investment unrealized because of the uncertainty in government policy and immature investment environment which are partly caused by the cultural difference between China and Western.
In this case, Mark, who was a private equity fund manager in the U.S. for the past years, decided to enter the market in China in 2009. As he encountered those challenges in China, he is considering how to adjust the fund operation and try to find the major factors which may affect the foreign private equity fund to invest in China.
一 個案..............................................2
二 教學個案......................................... 28
1 文獻探討及研究動機................................. 28
2 學習目標......................................... 29
3 目標問題......................................... 30
4 個案研究......................................... 32
4.1 何謂私募股權基金.................................. 32
4.2 中國大陸私募股權發展情形如何........................ 40
4.3 外資私募業者在中國大陸市場所面臨的主要困難有哪些以及該如何克服46
4.4 影響外資私募股權在中國大陸投資成功的影響因素有哪些..... 75
4.5 未來政策可能走向為何?會造成甚麼影響.................. 79
5 參考文獻......................................... 81
北京市道可特律師事務所、道可特投資公司著,外資PE在中國大陸的運作與發展,中信出版社,北京,民國100年
投中集團,德邦證券著,中國大陸私募股權投資(PE)年度報告,江蘇人民出版社,南京,民國101年。
謝劍平著,現代投資銀行,智勝文化事業有限公司,台北市,民國99年,194-205。
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