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Private Equity Risks And Prevent Problems In The Development Of Research In China

Posted on:2017-09-28Degree:MasterType:Thesis
Country:ChinaCandidate:T T ChenFull Text:PDF
GTID:2359330488451489Subject:Finance
Abstract/Summary:PDF Full Text Request
In our country,private equity fund market with the high speed development of economy in our country,is also growing,and the industrial structure adjustment,the prosperity of urban and rural markets,increase social employment has played a very important role.Nowadays the development of our capital market fast,although the appear in the development process of late,but the sheer scale of its business,has great influence on Chinese capital market,occupy the important position in development of China’s securities market.But because the legal policy and related supporting system lag,the current domestic large private equity is still the law supervision system,to a large extent increases the risk of the development of the private fund in our country,the final will be conducive to the healthy development of private equity funds,also buried a hidden danger for the development of capital market in China.In order to strengthen the securities market stability,and promote the prosperity of stock market,it is necessary for our country appeared in the development of private equity fund the risk characteristics of some systemic analysis,targeted Suggestions related to risk prevention.To see in the private equity fund development of our country at present the main risks facing the law,policy,market,credit,operations,and the moral risk,etc.This paper through the analysis of all kinds of research literature at home and abroad,to produce all kinds of risks in the process of development of private equity funds and various theoretical foundation has carried on the preliminary comb.We generally believe that the information asymmetry problems in the process of investment and financing,and the difference degree is private markets and offering the most essential difference between the market,so you need to focus from asymmetric information and the information cost of the resulting,in order to better understand the risk of developing private equity fund in China,and the corresponding risk prevention theory basis.In this paper,from two aspects of the concept of private equity funds,characteristic,has studied the theoretical basis of private equity fund risk produce such as uncertain risk decision theory,under the condition of information asymmetry,adverse selection and moral hazard,information cost,financial intermediaries and private financing,etc.Also discusses the theoretical basis of private equity risk prevention,such as principal-agent theory,the modern portfolio theory,capital asset pricing model,arbitrage pricing theory,etc.,that it can provide effective for private equity risk prevention advice.Then the development of private equity fund in China,developmentsituation and main problems of analysis,further analyzes the risk characteristics of private equity fund in our country,points out that the external environment for the risks of macro and microscopic risk brought by the operators is one of the two main characteristics,in addition to risk factors restricting the development of private equity fund in China and its risk causes analysis research.Then select a few cases in the process of the private equity fund development situation in the targeted risk identification and analysis and main conclusions for the enlightenment of the development of China’s private equity fund risk prevention countermeasures.To see in the private equity fund development of our country at present the main risk to have legal and policy risk,market risk,credit risk,operational risk and moral risk,etcFinally,the paper based on the current situation of China’s private equity market,preventing the risks of China’s private equity fund development policy Suggestions are mainly to perfect the legal system of laws and policies to guard against risks,to perfect the market system to overcome the market risk,to perfect credit and regulatory system to overcome the credit risk,in order to improve the relevant rules of operation mode,reduce the risk of operating and cultivate qualified fund management team to prevent moral hazard measures such as advice,constructed on the basis of perfecting the system of risk prevention of the firewall.
Keywords/Search Tags:private equity, risk, characteristics of risk prevention
PDF Full Text Request
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