我国风险投资退出方式的选择

风险投资在现代经济中具有举足轻重的作用,选择合适的方式退出是风险投资成功的关键。本文结合目前我国风险资本的退出现状,分析中国风险投资退出的主要障碍在于相关法律法规不健全、中介服务不成熟、风险企业在国内主板上市难度大,指出了在我国目前的国情下,可供选择的风险投资退出方式有收购与兼并、买壳或借壳上市、境外二板上市或国内中小企业板上市、股份回购、通过区域性产权交易市场退出等。

How to Choose the Withdrawal Method of Chinese Venture Capital

Venture capital plays a vital role in the modern economy and.to choose a proper exit way is the key for the success of venture capital.This paper,based on the current exit way of venture capital,points out that the main exit obstacles for Chinese venture capital are:imperfect laws and regulations,immature intermediary services and the difficulty for venture enterprises'IPO on the domestic Main Board.In this paper,the author suggests that under the current situation,the proper exit way of Chinese venture capital may include:merger and acquisition,IPO by buying or borrowing a shell company,IPO in overseas Second Board market or domestic SME Board,stock repurchase,or exit through regional property rights transaction market.