摘要
互联网金融作为一个新兴产业,各平台发展经常面临资金困境,能否及时获得风险投资突破资金瓶颈显得至关重要。为更好地引导互联网金融行业的风险投资,采用实物期权方法分析互联网金融行业风险投资机构的行为偏好,研究发现:需求漂移率和政府优惠力度的提高,会对互联网金融平台获得风险投资的机会产生正面影响;而需求波动率和无风险利率越高,互联网金融平台获得风险投资的机会越小。因此,互联网金融平台要获得充裕的发展资金,一方面需要平台强化自身业务创新,提高内部管理水平,规范平台经营行为,以维持业务增长的稳定性;另一方面需要政府支持和适当引导。
As one of emerging industries, internet finance platforms were often lack of funds. So it was critical to obtain the venture capital for overcoming the capital bottleneck. In order to guide venture capital in internet finance industry, this paper adoptedthe real options methods to analyze the preference of venture capital institutions in internet finance industry. We found that the increasing of the demand drift rate and government favorable policies will have a positive impact on the opportunities that Internet finance platforms obtain the venture capital investment. While the higher the demand volatility and risk - free interest rates are, the smaller the chance of getting venture investment is. Therefore, some measures should be taken to provide the internet finance platforms with sufficient funds. On the one hand, platforms must strengthen their own business innovation, improve the internal management level, and standardize their operation behavior in order to maintain the steady growth of business. On the other hand, the support and guidance from government are also important.
出处
《贵州财经大学学报》
CSSCI
北大核心
2017年第3期84-92,共9页
Journal of Guizhou University of Finance and Economics
基金
湖北省社科基金项目(BSY15007)
关键词
互联网金融
实物期权
风险投资
internet financial
real options
venture capital
