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With the development of China 's economy , the private equity (PE) as a new investment in China 's financial markets play an increasingly important role . Choice of investment , project management , capital appreciation exit , the three main components of the private equity investment , standing on the point of view of private equity investment funds , their goal is different from the entrepreneurs should enterprises bigger and stronger , but the sale of the business , final profit to recover the investment , and into the next investment cycle . Therefore, whether the private equity investment funds can add value and smooth exit is the first standard to measure investment success , to play a pivotal role in its future development . In view of this, we focus on the exit of the private equity and IPO exit as the starting point to study the impact of private equity exits factors , in order to identify the characteristics of China 's private equity investment exit and make recommendations . First, different exit summarized and compared , and this leads to a discussion topic , followed by literature review and summarize the impact factors are classified as private equity exit the characteristics of private equity investment institutions , investment companies characteristics , trading contracts and the external environment in four areas ; Secondly, the paper uses empirical research and theoretical studies , these factors were investigated , on the one hand, the use of data , statistical description and build a binary choice model , empirical to study the characteristics of the private equity investment institutions , the three factors of the characteristics and the external environment of the investment companies of the IPO exit way , on the other hand , through the establishment of a theoretical model , the theoretical study trading contract exit way and found our private equity equity investment exit in addition to have the same common with other countries , but also has the characteristics of their own , such as pro-gaze has added the IPO exit , exit more single , and the prevalence of the anxious state of mind ; once again , this paper based on the research results , combined their proposed recommendations that of private equity investment institutions should sink in the heart to overcome the tendency of the impetuous Reply rational investment and rational exit , at the same time , China should accelerate the establishment of a multi -level capital market for private equity exit to create a good environment.
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