摘要
私募股权投资基金作为一种新金融资本,创造价值的同时也带来风险,具备金融创新产品的"双刃剑"属性。私募股权投资基金最终体现为价值还是风险,取决于是否掌握其典型行业特征并做出针对性的特殊机制安排。资本的特异性、复杂的委托代理关系、"关键人"地位和作用等,是私募股权投资基金的三大典型的行业特征,针对这些特征,私募股权投资基金应建立相应的激励约束机制、价值创造机制和风险管理机制。
As a kind of new financial capital, private equity funds has no difference with other financial innovations, they could create value and may attribute to risk as well, which is called double -edged sword. Ultimately, will they promise value or produce risk, that may depends on whether we recognize the typical features of them and make specific institutional arrangements for them. The three typical characteristics of those features include capital heterogeneity, complex agency relationship, key persons＇ role and their status. Because of these three typical characteristics, private equity funds should establish appropriate incentive and restraint mechanisms, value creation mechanisms and risk management mechanisms.
出处
《经济与管理研究》
CSSCI
北大核心
2011年第2期103-110,共8页
Research on Economics and Management
关键词
私募股权投资基金
价值
特征
机制
Private Equity Funds
Value
Characteristics
Mechanism
