CAJ | 학술논문

加强对投资后的退出路径与策略分析研究,提前做好退出战略管理,对确保地勘单位实现最终的投资获益很有必要.影响退出时机决策的因素:所处的宏观经济周期;所涉矿种的市场发展趋势;股价变动情况;上市公司关键工作进度;是否有优质的战略投资者.对地勘单位而言,协议转让股份是可行的退出方式.路径选择:直接转让上市公司股份;转让上市公司持股股东股份.退出策略:明确对上市公司的投资定位;联系和储备境内外战略投资者;建立股价监控提示和预警制度;加强对上市公司融资计划、经营计划的审核和实施监督;整合资源帮助上市公司提升经营业绩.
가강대투자후적퇴출로경여책략분석연구,제전주호퇴출전략관리,대학보지감단위실현최종적투자획익흔유필요.영향퇴출시궤결책적인소:소처적굉관경제주기;소섭광충적시장발전추세;고개변동정황;상시공사관건공작진도;시부유우질적전략투자자.대지감단위이언,협의전양고빈시가행적퇴출방식.로경선택:직접전양상시공사고빈;전양상시공사지고고동고빈.퇴출책략:명학대상시공사적투자정위;련계화저비경내외전략투자자;건립고개감공제시화예경제도;가강대상시공사융자계화、경영계화적심핵화실시감독;정합자원방조상시공사제승경영업적.
@@@@This paper argues that both laying emphasis on the research of exit route and strategy analysis after investment, and completing exit strategy management in advance are necessary for ensuring that the geological exploration units will achieve the ultimate investment benefit. This paper analyses the factors that influence exit timing decision:macroeconomic cycles, market trends of minerals that are involved, share price movements, the key work progress of listed company, and if there is a high quality strategic investor. For geological prospecting units, this paper particular points out that the stock transfer via agreement is a feasible exit way. On the basis, this paper offers the selection of path, that is:directly transferring the shares of listed companies, and transferring the shares of shareholders of listed companies. And the exit strategies are also introduced:defining investing direction of listed company, getting in touch with and reserving domestic and overseas strategic investors, establishing monitoring guidance on share price and warning system, examining and approving and imposing supervision on financing plans and business plan of listed company, integrating resources to help listed companies to improve their management performance.