私募股权基金是否会影响全球经济的发展

私募股权基金是否会影响全球经济的发展

一般的经济学家认为私募股权基金影响了全球经济的发展。 首先，在大部分发展中国家，私募股权基金存在着很多法律上的漏洞。 比如说全世界最大的发展中国家-中国。中国以及许多发展中国家的法律暂时还无法约束PE的资金流向， 不能保证PE的资金流向是否合法的并且有利于全球经济。

其次，无法保证PE的大量资金与急需大量资金的企业和国家对接,更多的PE公司会选择一些有利可图的行业或是项目作为投资，,而一些无利可图却对经济发展起到一定作用的行业或项目却缺乏资金.

第三，一些大的PE公司，例如高盛，我们无法保证这些大的PE公司不变成一些国家将它们攻击他国的武器，如果这些大型PE公司变成武器，对于世界经济的发展将是毁灭性的打击。

第四,许多媒体和政治家们认为PE无法真正的提高被投资公司的企业生产力,很多企业无法将PE对被投资公司采取的措施很少能起到作用,致使企业的劳动力不升反降.

PE的出现极大的提高了企业生产率,极大的提高了全球的零散资金的利用率,在一些国家，PE是小型企业的助推器，是中小型企业生产力和资产增长的动力,具体来说：

第一，从企业生产力方面来看，被投资公司的生产力在交易后两年左右时间会得到，研究表明,被投资公司的生产力比其他公司相对要高一些，大约有72%，其中的主要原因是被投资进行了更有效的企业管理，而一些人认为PE对被投资公司的生产力影响是不升反降的原因是那些企业没有将PE对公司的管理进行合理的整合和衔接，平均来看，被投资公司

和没有被投资的公司在企业管理上更为先进，更有效率。

通过对企业的管理，PE能提升一个企业的生产率，例如,许许多多的政府，家族，或个人私有制的有很多其所有制下的缺点和毛病，而PE所带来的一些先进的运营管理制度在人力资源管理等方面的成效十分突出。 与未被投资的公司相比，PE所投资的公司在一些方面有着优势.例如,使其员工充分发挥自己的才干，而且被投资的公司有着严格的评估体系。这些都表明了PE对所投资的企业的管理改善有着正面的意义，对经济全球化有着更深层次的意义。例如，对先进的管理文化的传播.

一份来自2009年度的全球经济报告说明了2009年全球经济论坛对于PE的评价也是正面的，一份对法国PE的研究中发现,家族企业的管理水平低下,使我们可以了解到一个具有改善空间的经济体的情况，相对来说，法国的中小型在获得外部融资方面更为艰难。

我们还发现，PE在新兴市场尤为活跃，在新兴市场中，PE所占的比重较大,这是非常有利于全球经济的发展的

在我看来，

首先，我通过对PE的概念深入的了解和和认识,PE是对从事私人股份投资的基金，具有以下四个特点：1 募集资金的渠道较广；2 以股权方式投资,但方式非常灵活,3，风险很大，但收益丰厚， 4 参与企业管理但不控制企业，从18世纪在英国兴起的PE,在全球2008年次贷金融危机之后更加成熟的一种新兴的金融组织，我认为PE对全球的经济来说是利大于弊。

第一，PE有利于先进的管理模式和先进的管理模式和先进的人力资源理念，向全球传

播,这是非常重要的一点,我们知道，拥有更多的先进知识的企业越多，全球经济的发展越快，尤其是对于一些经济刚刚起步或经济并不发达地区的企业通常来说是以国家，家族或个人为核心的所有制,这种所有制固有的很多缺点是必须通过先进的理念来改善的，而大部分的时候注入这些先进理念的前提便是改变这种所有制，而只有加速这些落后或不发达的地区的经济发展速度，才是更有利于全球经济的发展，所以，从这一点来看,PE对全球的经济发展是有一定的帮助的。

第二，大部分的PE的组织形式是有利于全球的经济发展的，北大教授何晓峰说：政府有很多资源，所以政府利用基金的方式将资源有效配置，这是一个进步，而政府对所支持的中小企业应该有一定的选择性.应该选择有潜力的企业。”可见，政府体制下的PE是不利于经济发展的.但是，我认为，例如银行或财团控股的PE公司，民间的PE公司,和一些实力较强的企业操办的PE公司是非常有利于经济发展的,因为这些团体为了盈利,会使他们的投资更加的有针对性,相比较于政府,这些有较大份额的PE公司在对企业的选择更加专业，所以从这点来看，PE对全球经济的发展是利大于弊的。

第三 通过整合，PE会使一些行业更快发展，最成功的企业便是优秀的企业家与有效的企业组织相组合，让优秀企业去并购和整合整个行业，也就能最大限度的发挥优秀企业家人才和有效企业对社会的积极贡献。因此，PE中的融资和并购是对全球各产业的整合和发展具有重要意义的。 所以，PE对全球经济具有一定的贡献！

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There is a general common sense among economists， it is that they believe that private equity funds influence the development of the global economy. First of all， in most developing countries, private equity funds have many legal

loophole for the unethical businessman to seize every opportunity to stir trouble。 For example， the world's largest developing country—-- China. In China and many developing countries， there are still can not restrain the law of PE for capital flows， and can not guarantee the PE capital flows is legal and beneficial to the global economy。

Secondly, there is no guarantee that the amount of capital and PE to those urgently needed enterprise and national docking, More PE company will choose some profitable industry or projects as the investment choice,；some unprofitable but play a important role in the economic development`s industries or projects are a lack of funds。

Thirdly, some big PE companies, such as Goldman sachs， we can’t guarantee these big PE company invest funs to some countries will attack the others with weapon， if these large PE company invest into a weapon, the development of world economy will be devastating blow.

Fourth， many media and politicians think PE can't really improve investment enterprise productivity, a lot of enterprises will not be invested company of PE， they measures them take very little responsibility and can play a small role， the enterprise labor not rise but lower.

The emergence of the PE greatly enhancing the enterprise productivity， greatly improves the utilization rate of the funds of the global scattered circumstance， in some countries， PE is small businesses`s booster， especially for

small and medium—sized enterprises,they are the productive forces and the assets growth main force！

First, from the enterprise productivity perspective， the productivity of those companies will have a great improvement after the investment in trading around two years after later。 studies show that， investment companies productivity will great than any other company that are not invested relatively high about 72%. one of the main reasons behind this is the investment is more effective for enterprise management， and some people think the reason why investment company of PE productivity effect is not rise but lower is the enterprise did not put those funds into the management of the company， on average,PE make reasonable integration and cohesion for investment companies and let their management to be more advanced， more efficient.

From the enterprise management， PE can improve the productivity of an enterprise， for example, many government, family， or personal private ownership have their shortcomings, But PE brings the some advanced operation management system in human resources management， the effect is very outstanding。 And it is not the investment, by contrast, PE use their portfolio companies in some aspect to have the advantage. For example， invested company make its employees to make full use of their talents, and has strict appraisal system。 These show that the PE invest enterprise management has a positive and significance influence to improve the economic globalization has. For example， on the advanced management culture spreading。

A report of 2009 year about the global economic point out that the 2009 global economic BBS evaluation for PE is positive， a study found that French PE,make good effort for family enterprise management level is low， from that we can understand a PE has the improvement for the space of economies，generally speaking, France access to external finance has more difficult。 We also found the situation in emerging markets,PE is particularly active in emerging markets， the proportion of the PE is larger， it is very beneficial to the development of the global economy

In my opinion， First of all, through the deeply understand the concept of PE，I think PE is engaged in private equity investment fund， has the following four features： 1it has a wide fund—raising channel； 2it raise with equity investment way, but the way is very flexible, 3, the risk for PE is very big， but it has a great rewarding， 4PE participate in the enterprise management but not control enterprises, from 18 th century rise in Britain’s PE to 2008 the subprime financial crisis， it has a more mature with new kinds of financial organization, I think PE has a positive influence on the global economic。

The first thing I want to talk about is PE is its benefits for the management model and advanced the management model of the invested company .At the same time, it would advanced human resources idea, for the world economy，this is very important point. we know the manager of PE have more advanced knowledge of the enterprise， the more global economic development faster， especially for some country`s economic just at the beginning stage or some areas` economy is not developed very well, the enterprise is usually belong to

government, the family or personal ownership is not the core of its economy， the shortcomings of the ownership inherent is must through the advanced ideas to improve, and most of these advanced concept about the premise is to change the ownership， and only accelerate these behind or not developed area of economic development speed, is more conducive to the development of the global economy， so， from this perspective, PE has a certain help on the global economic development.

Second， most of the form of the PE organization is beneficial to the development of the global economy。 HeXiaoFeng ，professor of Peking University ， said: the government has many resources， so the government has a duty to use fund for resources allocation in an effective way， this is a progress that the support of the government for small and medium-sized enterprises should have certain selectivity. Government should choose the enterprise which have potential development。 ” The government selective systems of PE is not conducive to the development of the economy visiblely。 But, I think the financial institutions such as a bank or financial group holding company of PE, folk PE company， and some stronger enterprise operate PE company is very beneficial to the development of economy， because these groups can make their investment more have specific aim in order to profit。 In comparison to the government， these groups have a large share of the enterprise in PE, they would choose more professionals， so from this point of view, PE is not harm than good to global economic development。

The third aspect, we can start through integration, PE can make some industry

get a faster growth, the most successful enterprise is to combine the entrepreneurs and effective enterprise organization， make integration of the excellent enterprise and industry, we also can try to maximise outstanding entrepreneur talent and effective enterprise to the society to the positive contribution。 Therefore, the financing and mergers of PE would advance the integration of various industry to global and it has very important meaning。 So， PE has certain contribution on global economic!