私募股权投资的风险及控制策略

私募股权投资项目风险评估是私募股权投资项目投资决策的基础。通过对私募股权投资项目风险因素的识别，一方面应用层次分析法考察私募投资项目各风险因素的重要性权重体系，另一方面应用模糊综合评价考察私募投资项目各风险因素的风险程度。进一步，再利用私募投资业界决策者和3个不同行业项目（农业项目、电子项目和有色金属项目）具体管理者的问卷调查数据，给出相应的（相对）风险评估，从而验证了“将层次分析法和模糊综合评价结合起来对私募股权投资项目进行风险评估”这一方法的可应用性。

Characteristics contracts and actions: evidence from venture capitalist analyses

The risk assessment of a private equity investment project is the basis of private equity investment decision-making. Through the identification of risk factors of private equity investment projects, on the one hand, a weight system on risk factors by the analytic hierarchy process is studied, on the other hand, the degree of the riskiness for each the risk factors by the fuzzy comprehensive evaluation is evaluated. Further, using the questionnaire data from decision makers in the private equity investment industry and the managers of three real projects in three different industries respectively (an agricultural project, an electronic project, and a nonferrous metal project), the corresponding (relative) risk assessment is given, thereby validating the applicability of our method, which combines the analytic hierarchy process and the fuzzy comprehensive evaluation to conduct risk assessments of private equity investment projects.