摘要
政府引导基金作为引导、聚集社会资本扶持创新企业的政策性基金,已经成为股权投资市场的重要力量,但其在十多年的增量培育下,面临着严重的退出危机。S基金在退出需求激增和政策刺激的双重背景下急速发展,其良好的发展势头之下同时存在市场体量小、专业投资机构少、交易体系不完善等问题,针对以上问题,结合现有情况,文章从S基金交易主体建设、容错机制构建、生态体系完善三方面为完善政府引导基金退出新渠道提出对策建议。
As a policy-based fund to guide and gather social capital to support innovative enterprises,the government-guided fund has become an important force in the equity investment market.However,more than a decade of incremental cultivation,it is faced with a withdrawal crisis.So Secondary fund has rapid development under the background of surging withdrawal demand and polocy stimulus.A series of issues arise;a small number of markets,few professional investment institutions,imperfect trading system.In respond to the above problems,combined with the existing situation,the article proposes countermeasures and suggestions for improving the new channel of the government-guided withdrawal fund from three aspects:secondary fund trading subject construction,fault tolerance mechanism construction,perfecting ecological system.
作者
刘小燕
杨贾
雎华蕾
LIU Xiao-yan;YANG Jia;JU Hua-lei(Coordinating Center of Shaanxi Provincial Science and Technology Resources,Shaanxi Science and Technology Holding Group Co.,Ltd.,Xi’an 710077,China;School of Economics,Northwest University of Political Science and Law,Xi’an 710122,China)
出处
《陕西行政学院学报》
2024年第1期114-121,共8页
Journal of Shaanxi Academy of Governance
基金
陕西省科技厅软科学计划一般项目“陕西省科技型企业创新发展倍增计划政策效应评价及提升策略研究”(2023-CX-RKX-183)
陕西省科技厅软科学计划一般项目“陕西省科技成果转化引导基金运行成效分析及科创投资生态优化研究”(2023-CX-RKX-070)
西北政法大学研究阐释党的二十大专项项目“数字中国战略下中小企业高质量发展研究”(2022ZX11)。
关键词
政府引导基金
S基金
私募股权投资
二手份额交易
government-guided fund
secondary fund
private equity investment
second-hand share trading
