查询词典 venture capital

First, after elaborating the implication, characteristics and process of venture capital, this paper expounds the essence of venture capital appraisal and its significance in venture capital and materially distinguishes between the venture capital appraisal and traditio

首先，本文在介绍风险投资涵义、特点和流程的基础上，阐述了风险投资项目评价的本质特征，以及项目评价在风险投资过程中所处的重要地位，分析了风险投资的项目评价与传统项目评价的本质区别。

Firstly, in the article, it analyzes the basic concept of the Venture Capital, which involves Venture Capital's connotation, features, objects, investors and process. It strengthens the importance of appraisal of Venture Capital in the analysis of Venture Capital's process.

本文通过分析风险投资的基本特征和运作过程，借鉴财务管理理论对风险投资项目评估方法进行研究，并设计了一套衡量企业风险和效益的评估指标体系，以为风险投资项目评估提供可行性方案。

As the "activator" of the high-tech industry and the "engine" of the economy development, the venture capital has great significance on a nation"s economy. Our government increases the auspice extent to venture capital financing and investing in recent years. Such as the "Partnership Law of the People"s Republic of China", which passed in August 2006, establishes the law status of "limited partnership" in venture capital. On March 2007, the State Administration for Taxation issued the file No. 37 (2007) of fiscal and taxation to give venture capital preferable policy on revenue.

风险投资作为高新技术产业发展的"催化剂"和经济增长的"发动机"，对一国经济发展起了举足轻重的作用，近年来我国政府加大了对风险投资融资和投资的支持力度，如：2006年8月通过的《中华人民共和国合伙企业法》确立了合伙企业中"有限合伙"的法律地位，2007年3月国家税务总局发布的财税[2007]31号文件，对风险资本投资创业企业给予税收上的优惠政策。

All in all, My dissertation mainly focuses on phenomena existing in Chinese venture capital investment market with double principle-agent theory. According to actual conditions, we think that shareholders who are full of wishes to supervise the daily management of the venture capital should be nurtured. Another, the evaluation system with government as cautioner, the incentive and restrictive mechanism implemented and anonymous assess as trait in the beginning of process should be improved uninterrupted. Last but not least, in the choosing of exit ways of the venture capital, the MBO method is one that couldn't be ignored.

并在探究两层委托代理互动关系的基础上，针对我国风险投资市场委托代理中的主体缺位、政策滞后等问题，提出要明确风险投资领域宏观与微观环境建设的政府责任与企业责任：在风险资本市场，要大力宣传和鼓励以民营资本为代表的积极股东的参与；在风险投资项目评估中，应当不断完善以政府担保为主体的、贯彻激励约束机制的、以专家匿名评审为特点的项目评估体系；在风险资本退出模式中，我们强调要更加重视MBO方式对风险投资事业的积极作用。

The main results of the dissertation are as following:(1) The origination and the evolving process of the venture capital industry of our country disclose that the main feature of our venture capital market is: the government is the main supplier of the venture capital regimentation and this transfer is characteristical of forced transfer.

论文所得到的主要结论有以下几个方面：我国风险投资的产生和发展过程表明，我国风险资本市场形成的最主要特点是：政府是风险投资制度的主导供给主体，这一制度变迁带有明显的"强制性制度变迁"的特征。

3Rd chapter summarizes the principal character that our country venture capital develops at present, and analyses the problem that our country venture capital there exists in job at present mainly, such as: the government supporting strength to venture capital job is insufficient, risk capital scale is minor, financing gap is big, the venture capital professional is deficient, the venture capital withdrawing from is machine-made wait urgently after perfect.

第3章 概述我国风险投资目前发展的主要特征，并主要分析目前我国风险投资业存在的问题，诸如：政府对风险投资业的支持力度不够、风险资本规模小，资金缺口大、风险投资专业人才匮乏、风险投资的退出机制亟待完善等。

In the meantime, the thesis argues that the establishment and perfection of exit mechanism is a gradual process. A market for "enterprise development" should be established to ensure sustained and healthy development of venture capital industry. This thesis consists of 9 parts, including introduction, the basic theory of venture capital and its exit, the main route of exit and comparison, introduction on some exit systems in USA, British, Taiwan and some developed regions, the effect on economic growth, summary and case study of the exit, progressional establishment of venture capital exit system in China, equity pricing patterns for stock transfer and the information to be disclosed, and conclusion etc.

本文分为九个部分，包括导论，创业投资及其股权退出的基本理论，创业投资股权退出的基本方式，美国、英国和台湾多层次资本市场建设及对创业投资股权退出的影响，国内创业投资股权退出的现状及影响股权退出的因素分析，多层次资本市场体系是我国创业投资股权退出机制建设的重要内容，改善创投公司机制和提高被投资企业的质量是我国创业投资股权退出机制建设的重要基础，合理测算和制定转让价格及披露相关信息是当前实现创业投资股权退出的重要措施，主要观点和结论等。

The essay introduces proposals and roles of venture capital, and di- cusses the unique demand of the capital in high tech industry. It also reveals the key points of success in venture capital, which is coalescence of the capital, the technolony, the knowledge and the human capital. It analyses the operating system in the venture capital.

本文介绍了风险投资的特征及功能，论述了高科技产业独特的资金需求特征，揭示出风险投资中资金、技术、信息及人力资源的整合是其成功的主要原因，并分析了风险投资的运行机制。

First, the source of venture capital is single; second, the scale of venture capital is too small; third, institutions and enterprises of venture capital are not perfect; fourth, there is no benefit-balance mechanism between the institution and enterprises; fifth, the channels of seceding for venture capital are not kind.

通过研究，发现我国风险投资运行中主要存在以下问题：风险资本规模太小，来源单一，风险投资机构不成熟，风险企业不完善，在风险资本提供者、风险投资机构和风险企业之间还没有形成合理的利益平衡机制，风险资本退出渠道不畅。

Hua Yongdao of general of famous accounting firm and alliance of national venture capital The National Venture Capital Assn.

闻名会计公司普华永道和国家风险资本联盟（the National Venture Capital Assn。

But in the course of internationalization, they meet with misunderstanding and puzzlement.

许多企业已经意识到了这一点，但在国际化的进程中，仍存在一些误区与困惑。

Inorder toaccomplish this goal as quickly as possible, we'll beteamingup with anexperienced group of modelers, skinners, and animatorswhosenames willbe announced in the coming weeks.

为了尽快实现这个目标，我们在未来数周内将公布与一些有经验的模型、皮肤、动画制作小组合作。