摘要
在后危机时代,我国商业银行应积极参与PE业务,实现支持经济可持续增长与拓宽盈利渠道的"双赢"。现阶段我国商业银行参与PE业务的基本路径可概括为:"迂回"直投模式、合作模式与间接模式。从外部环境看,我国PE市场发展的税收和政策安排还不够完善,资本市场为PE提供的退出通道较为狭窄,交易透明度有待进一步提高等;而商业银行内部也存在着风险管理、人才筛选等方面的难题。我国商业银行渐进拓展PE业务应制定严格的风险控制导向的业务监督体系和运营操作流程;积极引进和培养专业人才;选择合适的参与方式、投资阶段、投资产业与投资地域等。
During the post-crisis era, Chinese commercial banks should actively take part in PE business to support the sustainable growth of economy, as well as broaden their profit source. At Present, Chinese commercial banks participate in PE business mainly through three modes, which are cireumbendibus direct investment, cooperation investment and indirect investment. From the perspective of external circumstances, the tax and institutional arrangements about PE market remain to be improved, capital market fails to provide sufficient choices for withdrawal of PE, and trade transparency remains to be improved. From the perspective of commercial banks themselves, they also face difficulties in risk management and talent selection. To further PE business step by step, Chinese commercial banks should establish strict risk-control-oriented business supervision system and operation process, actively introduce and train professional talents and choose suitable participation mode, investment stage, target industry and target areas
出处
《金融论坛》
CSSCI
北大核心
2010年第2期35-41,共7页
Finance Forum
关键词
商业银行
私募股权投资(PE)
“迂回”直投模式
合作模式
间接模式
commercial bank
private equity （PE）
circumbendibus direct investment mode
cooperation investment mode
indirect investment mode
