摘要
私募股权投资基金引入"合格投资者"这一制度的出发点,在于认识到资本市场存在投资者的差别性风险投资需求与政府类别监管的需要。经由合格投资者这一类似防火墙的准入机制,固然不能全然解决投资者损失或受欺诈的风险,起码在一定程度上起到风险提示与风险阻遏的机能。立法者应将均衡保护投资者与推动融资便捷作为合格投资者规制的原则指引,并从合格投资者的人数设定、动态资产把握与风险识别能力等综合因素出发,采纳量化与模糊并存的标准设定合格投资者的资格底线。
The starting point of introducing qualified investors into private equity investment funds is the recognition that there is differential demand of investors for risk investment and government supervision on capital market. The entry mechanism of qualified investors admittedly cannot completely eliminate the loss or fraud risks of investors, but plays the role of risk warning and repression at least to a certain extent. Legislators should regard the balance between investor protection and the advancement of financing convenience as the guideline of the rule of qualified investors and employ quantitative and fuzzy standards to set the bottom line of qualified investors from the perspective of the number, dynamic assets and risk recognition of qualified investors.
出处
《上海财经大学学报（哲学社会科学版）》
CSSCI
北大核心
2012年第4期41-47,共7页
Journal of Shanghai University of Finance and Economics
关键词
私募股权投资基金
合格投资者
风险防范
准入机制
private equity investment fund
qualified investor
risk prevention
entry meehani sm.
