在这种机制下，投资者同意在将等值的老债券卖给银行的情况下，购买新的债券，从而确保其净风险敞口并未进一步扩大。
In such an arrangement, an investor agrees to buy into a new issue in return for being able to sell back to the Banks an equal amount of an old one, thus ensuring its net exposure does not rise.
我国风险投资扩张的关键在于进入与退出机制的进一步完善。
The key to the expansion of venture investment of our country lies in the further perfection of entrance withdrawal mechanism.
本文集中讨论了风险投资决策机制的设计、应用与动态调整。
Then discuss mainly the design, application and dynamic adjustment of the decision mechanism of venture investment.
创业企业在成长过程中面临的风险与一般企业有所不同，创业投资家需要针对创业企业的成长风险构建特殊的风险跟踪管理机制。
Different from the risks common enterprises face in their development, investors need to establish a specific risk-tracking management mechanism against the growth risks of the pioneering enterprises.
风险投资是推动科学研究成果迅速转化为商品的新型金融运作机制。
Venture investment is a new finance mechanism to impel to convert science outcomes into merchandise rapidly.
拟从风险投资机制的三个方面将世界上的成功经验和我国的实情结合起来，指出一些建议性的方向。
This text is dratted from three respects of venture investment mechanism and combines the successful experience of the world and the truths of our country and points out some recommended directions.
本文关于构建有中物院特色的产业化模式、战略规划、经营机制、风险投资基金等设想，大胆提出了自己的见解。
The author has also bravely offered his ideas on the industrialization mode, strategy plan, business mechanism, and risk investment fund with CAEP characteristics.
风险投资作为一种全新的投融资体制，除了有其独特的内部运行机制外，良好的外部环境也不可缺少。
For venture capital, as an entirely new mechanism of investment and financing, besides the unique internal operation system, a sound external environment is indispensable.
第3章：我国风险投资的运行机制与模式。
Chapter 3: The operation mechanism and mode of venture capital investment in China.
激励机制一直是风险投资研究的热点之一，并且提出了很多定性的研究结果。
Incentive mechanism in venture capital has drawn much attention, and many qualitative, empirical and quantitative analysis and discussions have been proposed.
首先，应完善不同组织形式风险投资基金设立与募集的法规和配套机制。
Firstly, the supporting mechanism and legal rules of the establishment and raising of venture capital fund in various organizational forms should be completed.
风险投资机制也将设立，我们将继续在全社会普及科学技术。
Risk investment mechanisms will be set up and we will continue to publicize science and technology in the whole society, " Wen said."
运用博弈论中委托-代理理论对股权-债权的风险投资激励机制进行了研究。
The paper analyses systemically incentive scheme of venture capital under equity-debt by applying principal-agent theory in the game theory.
对于投资者而言，需要设计相应的风险分担机制。
For investors, it needs to design the corresponding mechanism of venture share.
风险投资机制的核心问题是如何解决投资人和企业家之间高度的信息不对称和他们共同面对的高市场风险。
The mam problem of venture capital mechanism is how to solve the highly asymmetrical information between the investors and entrepreneurs, and the high market risk that they all confront.
风险投资中介机构的监督、考核机制不完善等。
Correspondingly, the professional venture investment intermediary is in short lack.
风险投资的内在运行机制是“合理预期高收益和合理控制高风险”。
The internal operation mechanism of venture capital is to anticipate returns and control risks rationally.
文章对存在于风险投资者、风险投资家、创业者之间的信息不对称，分析了风险投资中的制衡机制。
This article analysis the mechanism of governance to avoid the risk of asymmetric information among the venture investor, venture investment company and venture company.
三个阶段相互影响，有机运作，构成风险投资有效运作机制。
These three phases together form an effective operating mechanism by interacting on each other and operating organically.
价值评估机制是风险投资战略联盟的重要机制，传统现金流分析法难以准确评估高新技术企业的价值，但期权定价理论却可弥补传统定价方法的不足。
The traditional cash flow analysis method hardly assess the value of high tech enterprise correctly, while the option pricing theory can compensate the traditional pricing method shortage.
其风险则包括道德风险、机制风险、投资风险和监管风险。
The risks are the moral risk, mechanism risk, the investment risk and the supervising risk.
但是，外汇理财市场繁荣的背后存在着营销方式落后、盲目投资开店、营运不规范、风险控制机制薄弱等问题。
But, the boom covers some problem, such as: behindhand marketing, opening blindly financing firms, not operating canonically, absence of risk control mechanism, and so on.
证券公司市场退出机制是一个特殊、复杂的制度建设，不仅包括证券公司的退出、还包括投资者保护，以及降低金融风险等内容。
The establishment of securities corporation withdrawal mechanism is exceptive and complicated. It is including securities corporation withdrawal, investor protection and reduce the financial risk.
研究了在竞争的信贷市场中，对风险厌恶型投资者克服逆向选择作用的信贷决策机制，提出了这种机制应满足的性质。
A study is made in this paper of the credit decision mechanism against adverse selection in a competitive market with asymmetric information when entrepreneurs are riskaverse.
目前我国风险投资业还很不完善，在风险资本规模、运作机制和退出机制等方面存在着许多缺陷。
Nowadays, risky investment is not more perfect in our country for it exits a lot of shortages in scale of risky capital, processing mechanism and withdrawing mechanism.
第三部分，风险投资的风险分散机制。
The third part analyzes the mechanism of sharing of risk in joint investment.
风险投资治理结构的经济意义在于它成功地解决了逆向选择和道德风险问题，为风险投资的运作提供了经济、高效的运作机制。
The venture capital has succeeded in resolving the problems of converse selection and moral risks, which supplies the economic and efficient operation system.
在风险投资运作过程中，退出机制是风险投资成败的关键环节。
In the operating of risky investment, the "Withdraw Mechanism" is the key link related to the success or the failure of risky investment.
在风险投资运作过程中，退出机制是风险投资成败的关键环节。
In the operating of risky investment, the "Withdraw Mechanism" is the key link related to the success or the failure of risky investment.
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