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1、1Analysis of corporate long-term equity investment management strategy and risk preventionAbstract long-term equity investments in foreign investment in the enterprise occupies a pivotal position because of its long-term holders of the shares of the investment unit for the purpose intended to influe
2、nce the risk for corporate long-term equity investment is facing and the presence of problems, propose the establishment of a comprehensive risk management system, improve the corporate governance structure, rationalization of internal organizational structure, and improve internal control and build
3、 process of the investment risk prevention mechanisms, to effectively prevent the risk of equity investment. Paper long-term equity investments, corporate governance structure, internal controls, organizational structure One, the risks faced by the enterprise long-term equity investment Long-term eq
4、uity investment is 2facing the risk can be divided into investment decision-making risk, investment risk of operational management and liquidation of the investment risk in particular: (A risk of investment decisions Project selection risk is the risk of the investment unit in which the industry and
5、 the environment, as well as its own technology and market risk. (2) the risk of the project demonstration. Investment due diligence and feasibility of the project risk. Decision-making process risk is the risk of the program is imperfect, and program execution lax. (Two investment operations manage
6、 risk A risk of ownership structure, including: shareholders the option of risks, corporate governance risk, the risk of an investment agreement. . Commissioned agents operating in the risk of moral hazard. Phase separation of ownership and management of the enterprise would have a principal-agent r
7、elationship principal-agent system goal of the owners and operators of inconsistency, the drawbacks of asymmetric information, agents may use their own 3advantages, the pursuit of their own to maximize the benefits arising from moral hazard. (3) investors transfer risk. Main business risk is the exi
8、stence of the invested enterprise, financial risk, internal risk passed to investors through equity relationships. Group of project responsibilities and assignment management risk on the one hand, investors selected project liability groups or individuals, responsible for the management of investmen
9、t projects, on the other hand, also accredited to the investors the directors, supervisors, deputy general manager and other senior management responsibility group and the expatriates own knowledge, capacity constraints or a strong sense of responsibility, there is a risk management process. Informa
10、tion disclosure risk. Investment management not in strict accordance with the Investment Agreement in respect of information disclosure requirements, deliberately delayed the timely reporting 4of financial and material business information, secret operations, provide filtered outside investors do no
11、t even false information, so that investment in the possession of information has a lot of one-sided and incomplete, so that the investor is in serious information disadvantage, will seriously affect the management of the investment side. (C) investment in clean-up risk From the risk of external inv
12、ested enterprises, such as interest rate risk, inflation risk, policy, legal risk, interest rate risk is to changes in interest rates lead to changes in the rate of return on investment, and thus have an impact on investors income. The risk of inflation is rising prices , the purchasing power of mon
13、ey fell to investors the risks of policy and legal risk of the sudden change in policy made by the government to guide economic work, or the introduction of new laws and regulations, to produce lethal effects of the business. From invested enterprises within the risk. Invested enterprises within the
14、 technology risk, 5management risk, moral risk of transfer of risk to the investment side exit. Withdrawal of investment timing and manner of selection risk. Two, the problems of long-term equity investment Long-term equity investments in various stages of the business processes there are some typic
15、al problems, these problems are rooted in the investment risk, and ultimately lead to investment losses. Specifically, the current common problems following. (An investment decision-making stage 1 more long-term equity investment blindness, lack of strategic planning. To enhance long-term equity inv
16、estment to a strategic level, the investment process is full of blindness. Equity due diligence is not sufficient, a mere formality. Many companies commissioned external intermediaries to conduct due diligence, some intermediaries as investment medium for their own interests, they may try to contribute to investment, 6allowing information to be white washed Some companies independent due diligence, the usual practice is that the organization of several
