發(fā)布時間：2018-04-18 04:13

  本文選題：私募房地產(chǎn)投資基金 + 財務(wù)風(fēng)險��； 參考：《湖南大學(xué)》2014年碩士論文

【摘要】：改革開放以來，伴隨我國社會主義市場經(jīng)濟(jì)的快速發(fā)展，我國私募股權(quán)基金歷了從無到有、從小到大的發(fā)展歷程。經(jīng)過20多年的發(fā)展，我國私募股權(quán)基金獲得了快速發(fā)展。房地產(chǎn)行業(yè)與國民生活息息相關(guān)，房價一直是人們關(guān)注的話題，因此房地產(chǎn)企業(yè)的發(fā)展對國民經(jīng)濟(jì)有著重要影響，2009年開始,國家對房地產(chǎn)市場出臺了宏觀政策的調(diào)控，使得行業(yè)資金壓力擴(kuò)大，籌資渠道的拓寬成為房地產(chǎn)行業(yè)的燃眉之急。這時私募股權(quán)投資成功吸引了房地產(chǎn)商的注意力，私募房地產(chǎn)投資基金得到極大的發(fā)展。私募房地產(chǎn)投資基金作為新興的金融創(chuàng)新產(chǎn)品，其創(chuàng)新性和不確定性，使私募房地產(chǎn)投資基金的運(yùn)營連同管理公司都面臨著很多潛在的危機(jī)，其中一個非常重要的風(fēng)險就是財務(wù)風(fēng)險。房地產(chǎn)行業(yè)在所有行業(yè)中財務(wù)風(fēng)險最高，私募股權(quán)基金本身風(fēng)險也很高，把私募股權(quán)基金運(yùn)用到這個行業(yè)來，更需要基金管理者謹(jǐn)慎地面對財務(wù)風(fēng)險。機(jī)遇與挑戰(zhàn)并存，面對機(jī)遇，企業(yè)如何控制私募房地產(chǎn)投資基金運(yùn)行的財務(wù)風(fēng)險，用何種策略對財務(wù)風(fēng)險進(jìn)行識別、衡量、分析和控制，成為企業(yè)管理理論和實踐工作中急需解決的課題。 本文采用案例形式對私募房地產(chǎn)投資基金財務(wù)風(fēng)險控制問題進(jìn)行研究，首先系統(tǒng)地闡述了私募房地產(chǎn)投資基金運(yùn)行中財務(wù)風(fēng)險控制的基本理論，接著結(jié)合X公司基金運(yùn)行的實際情況，從融資、投資和退出三個階段詳細(xì)分析其所面臨的財務(wù)風(fēng)險以及已采取的相關(guān)控制措施，經(jīng)分析發(fā)現(xiàn)X公司私募房地產(chǎn)投資基金存在融資制度不完善、融資渠道有限、投資項目估值不科學(xué)、投資工具單一以及退出機(jī)制兌付等問題。針對這些問題，，提出完善X公司私募房地產(chǎn)投資基金財務(wù)風(fēng)險防范措施的具體思路和建議，以期能夠?qū)�X公司私募房地產(chǎn)投資基金財務(wù)風(fēng)險管理有所裨益，X公司私募房地產(chǎn)公司財務(wù)風(fēng)險的控制措施和改進(jìn)方法具有普遍的應(yīng)用意義，國內(nèi)各大基金管理公司可以根據(jù)自身情況加以借鑒。
[Abstract]:Since the reform and opening up, with the rapid development of our socialist market economy, private equity funds in China have experienced the development from scratch, from small to large.After more than 20 years of development, private equity funds in China have achieved rapid development.The real estate industry is closely related to national life, housing prices have been a topic of concern to people, so the development of real estate enterprises has an important impact on the national economy. Since 2009, the state has introduced macro-control policies on the real estate market.Make the industry capital pressure to expand, financing channels to broaden the real estate industry's urgent need.At this time, private equity investment successfully attracted the attention of real estate investors, private real estate investment funds have a great development.As a new financial innovation product, Private Real Estate Investment Fund (PREF) is faced with many potential crises because of its innovation and uncertainty.One of the most important risks is financial risk.The real estate industry has the highest financial risk in all industries, and the private equity fund itself is also very risky. To apply the private equity fund to this industry, fund managers need to face the financial risk carefully.Facing the opportunity, how to control the financial risk of the private real estate investment fund, how to identify, measure, analyze and control the financial risk with what strategy?It has become an urgent task in the theory and practice of enterprise management.In this paper, the financial risk control of private real estate investment funds is studied in the form of cases. Firstly, the basic theory of financial risk control in the operation of private real estate investment funds is systematically expounded.Then combined with the actual situation of X company fund operation, from the financing, investment and exit three stages of detailed analysis of its financial risks and the relevant control measures have been taken,It is found that X Company's private real estate investment fund has some problems, such as imperfect financing system, limited financing channels, unscientific valuation of investment projects, single investment tool and payment of withdrawal mechanism.Aiming at these problems, this paper puts forward some concrete ideas and suggestions on how to improve X Company's financial risk prevention measures for private real estate investment funds.In order to benefit X company private real estate investment fund financial risk management and X company private real estate company financial risk control measures and improvement methods have universal application significance,Domestic major fund management companies can use for reference according to their own circumstances.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F299.233.42;F832.51

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