發(fā)布時(shí)間：2018-04-25 12:41

  本文選題：股權(quán)投資 + 風(fēng)險(xiǎn)控制��； 參考：《吉林大學(xué)》2013年碩士論文

【摘要】：CN電力開(kāi)發(fā)公司原主營(yíng)業(yè)務(wù)集中在火電項(xiàng)目的股權(quán)投資，2006年，由于國(guó)家宏觀形勢(shì)的改變，公司更名為CN投資集團(tuán)有限責(zé)任公司，同時(shí)將主要投資方向由電力產(chǎn)業(yè)逐漸向其他行業(yè)拓展，降低電力投資業(yè)務(wù)在集團(tuán)總投資中所占的比重。投資范圍擴(kuò)展到金融、房地產(chǎn)、能源開(kāi)發(fā)，高科技生物制藥技術(shù)等方面。黑龍江CN投資管理公司是黑龍江CN投資集團(tuán)下屬分公司，主要投資方向是礦業(yè)與地產(chǎn)行業(yè)項(xiàng)目的開(kāi)發(fā)。2010年，公司計(jì)劃與民營(yíng)公司合作以股權(quán)投資與債權(quán)投資相結(jié)合的方式組建東寧楊木溝鐵鋅礦項(xiàng)目，成立新的控股子公司。本文以此次項(xiàng)目為主要研究對(duì)象，以該項(xiàng)目公司從投資決策到投資后項(xiàng)目的經(jīng)營(yíng)管理等相關(guān)方面為主要研究?jī)?nèi)容。 通過(guò)對(duì)CN投資管理公司鐵鋅礦項(xiàng)目的調(diào)查研究，論文從前期可行性調(diào)研開(kāi)始，分別從經(jīng)濟(jì)評(píng)估、項(xiàng)目的投資決策程序、行業(yè)環(huán)境、技術(shù)市場(chǎng)、股權(quán)結(jié)構(gòu)建立、經(jīng)營(yíng)管理過(guò)程、委托代理等各個(gè)方面分析其中可能存在的風(fēng)險(xiǎn)。進(jìn)而，針對(duì)或有風(fēng)險(xiǎn)，制定相應(yīng)的風(fēng)險(xiǎn)控制措施。內(nèi)容針對(duì)規(guī)范投資決策程序與投資管理模式、規(guī)避行業(yè)風(fēng)險(xiǎn)、健全公司法人治理結(jié)構(gòu)、完善各項(xiàng)管理制度以及通過(guò)調(diào)動(dòng)代理積極性來(lái)降低道德風(fēng)險(xiǎn)等方面的風(fēng)險(xiǎn)防控做了較為深入的研究。在國(guó)企與民營(yíng)企業(yè)兩種企業(yè)管理模式的差異中尋求共同點(diǎn)，通過(guò)管理制度的建立，有效的防范以及控制股權(quán)以及債券投資后所伴生的風(fēng)險(xiǎn)，在保證國(guó)有資產(chǎn)的保值、增值的前提下，兼顧其他私營(yíng)企業(yè)股東的權(quán)益與經(jīng)濟(jì)目標(biāo)。 進(jìn)行投資決策以及進(jìn)行項(xiàng)目管理承擔(dān)了CN投資管理工資進(jìn)行這次投資的主要風(fēng)險(xiǎn)。前者承擔(dān)的風(fēng)險(xiǎn)主要來(lái)自投資前該項(xiàng)目是否具有可行性。后者承擔(dān)的風(fēng)險(xiǎn)來(lái)自投資后對(duì)項(xiàng)目的管理。二者所承擔(dān)的風(fēng)險(xiǎn)，是本文研究分析的重點(diǎn)。投資實(shí)施過(guò)程中的規(guī)范性，可行性，管理人員結(jié)構(gòu)的合理性是CN投資管理公司在項(xiàng)目實(shí)施過(guò)程中的工作重點(diǎn)。在工程實(shí)施的每一個(gè)環(huán)節(jié)，要按投資決策程序進(jìn)行，，將風(fēng)險(xiǎn)降到最低。監(jiān)管與服務(wù)是項(xiàng)目管理的重點(diǎn)，從而將代理經(jīng)營(yíng)中的道德風(fēng)險(xiǎn)有效控制。 此次投資行為作為公司正式進(jìn)入礦業(yè)行業(yè)投資的敲門磚，其主要目的一方面是積累相關(guān)行業(yè)經(jīng)驗(yàn)，成為公司培養(yǎng)管理人員的一個(gè)實(shí)驗(yàn)場(chǎng)所。另一方面， CN投資管理公司將新公司的建立視為首個(gè)有色金屬礦業(yè)的投資項(xiàng)目，在運(yùn)作良好的情況下，有利于CN投資管理公司流動(dòng)資金的運(yùn)作管理，為公司日后的發(fā)展壯大打下基礎(chǔ)。本文的研究對(duì)CN投資 管理公司此次股權(quán)投資項(xiàng)目以及日后的其他項(xiàng)目的發(fā)展具有一定的參考意義。
[Abstract]:The former main business of CN Electric Power Development Company concentrated on the equity investment of thermal power projects. In 2006, due to the change of the national macro situation, the company was renamed CN Investment Group Co., Ltd. At the same time, the main investment direction will be gradually expanded from the power industry to other industries to reduce the proportion of power investment business in the total investment of the group. Investment in finance, real estate, energy development, high-tech biopharmaceutical technology and so on. Heilongjiang CN Investment Management Company is a subsidiary of Heilongjiang CN Investment Group. Its main investment direction is the development of mining and real estate projects. In 2010, The company plans to cooperate with private companies to set up Dongning Yangmugou Iron and Zinc Mine Project in the form of equity investment and creditor's right investment, and set up a new holding subsidiary. This paper takes this project as the main research object, taking the project company from the investment decision to the post-investment project management and other related aspects as the main research content. Through the investigation and research on the iron and zinc mine project of CN Investment Management Company, the paper starts with the preliminary feasibility investigation, starting with the economic evaluation, the investment decision procedure of the project, the industry environment, the technology market, the establishment of the stock right structure, the management process. Principal-agent and other aspects of the analysis of the possible risk. Furthermore, the corresponding risk control measures are formulated for contingent risks. The content aims at standardizing investment decision-making procedure and investment management mode, avoiding industry risk, perfecting corporate governance structure, Improving the management system and reducing the moral hazard by arousing the enthusiasm of the agent have done a more in-depth study on risk prevention and control. Through the establishment of management system, effective prevention and control of the risks associated with equity and bond investment, to ensure the preservation of the value of state-owned assets, the paper tries to find common ground in the differences between the two management modes of state-owned enterprises and private enterprises. Under the premise of value-added, the interests and economic objectives of other private enterprise shareholders should be taken into account. Investment decision making and project management bear the main risk of CN investment management wage for this investment. The former risk mainly comes from the feasibility of the project before the investment. The latter risk comes from the management of the project after the investment. The risk that both bear, is the focal point of this article research and analysis. The standardization, feasibility and rationality of management structure are the key work of CN Investment Management Company in the process of project implementation. In every step of project implementation, investment decision-making procedure should be followed to minimize risk. Supervision and service is the key point of project management, thus the moral hazard in agency management can be effectively controlled. The main purpose of this investment behavior is to accumulate relevant industry experience and to become an experimental place for the training of managers. On the other hand, CN Investment Management Company regards the establishment of the new company as the first non-ferrous metal mining investment project, which is conducive to the operation and management of the working capital of CN Investment Management Company when it is working well. For the future development of the company to lay the foundation. Research on CN Investment in this thesis The management of the equity investment project and the development of other projects in the future has certain reference significance.
【學(xué)位授予單位】：吉林大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F426.1

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