中小企业引入私募股权投资的风险分析——基于永乐电器案例分析  

An Analysis of the Risks of Private Equity Investment in Small and Medium-sized Enterprises Based on the Case of Yongle Electrical Apparatus

作　　者：孙茹[1] 范抒[1] 

机构地区：[1]沈阳理工大学经济管理学院,辽宁沈阳110168

出　　处：《商业经济》2010年第16期93-94,108,共3页Business & Economy

摘　　要：中小企业在引入私募股权投资时存在着企业价值低估风险、对赌协议引起的控制权风险和品牌流失风险。通过摩根士丹利注资永乐电器的私募案例,说明中小企业在引入私募股权投资的过程中,风险控制是非常必要的。中小企业在引入私募股权投资时应注意选择合理的价值评估方法、合理评估企业价值以及增强核心竞争力等问题。In attracting private equity investment,the small and medium-sized enterprises run the risks of undervaluation,control due to valuation adjustment mechanism,and brand loss.The case of Morgan Stanley injecting capital to Yongle Electrical Apparatus shows that the small and medium-sized enterprises should control the risk when inviting private equity investment.The small and medium-sized enterprises should choose proper evaluation method to evaluate enterprise value and to increase core competence when attracting private equity investment.

关 键 词：中小企业 私募股权投资 风险 

分 类 号：F276.3[经济管理—企业管理]