基于改进直觉模糊层次分析方法的政府创业投资引导基金绩效评价研究

Study on the Performance Assessment of Government Venture Investment Guidance Fund Based on the Improved IFAHP

首先,本文阐释了政府创业投资引导基金运行模式与组织架构,并对其近几年绩效评价的相关研究文献进行评述。其次,本文结合国内创业投资引导基金自上而下的绩效评价特点,通过对创业投资引导基金行为机制、相关政策法规的研究,构建了创业投资引导基金绩效评价指标体系,并完善了评价的细则。本文特别增添的决策情况指标用来解决引导基金定位不清晰、缺乏长期规划的问题,产出情况指标针对的是基金大量结存与投资结构不合理问题,而可持续影响指标用来衡量引导基金市场化接轨中的影响力。最后,本文运用改进的直觉模糊层次分析法,通过实证检验得出评价指标的权重,得到的权重非常直观,在对行为机制的反馈层面,该方法优于传统的直觉模糊层次分析法。

Firstly, this paper explains the operating mode and organizational structure of government venture capital guiding fund, and reviews the relevant research literature of performance evaluation in recent years. Secondly, this paper combines the top-down evaluation characteristics of domestic venture capital investment guidance fund, studies the behavioral mechanism and related policies of venture capital guiding fund, constructs a performance evaluation system for venture capital guiding fund, and improves the detailed rules for the evaluation. The indicators of decision-making added specifically in this paper are used to solve the problems of unclear guiding fund positioning and lack of long-term planning, The indicators of output are aimed at the problem of a large number of fund balances and irrational investment structures, The sustainable impact indicator is used to measure the influence of guiding funds in market integration. Finally, this paper uses the improved Intuitionistic Fuzzy Analytic Hierarchy Process（ IFAHP） to obtain the weight of the evaluation indicators through empirical test. The weights obtained by this method are very intuitive. On the level of the feedback from behavior mechanisms, this method is superior to the traditional Intuitionistic Fuzzy Analytic Hierarchy Process.