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博碩士論文 etd-0711117-011055 詳細資訊
Title page for etd-0711117-011055
論文名稱
Title
大學校友成立天使投資之運作機制之多個案研究
A Multiple-Case Study of University Alumni Angel Investors
系所名稱
Department
畢業學年期
Year, semester
語文別
Language
學位類別
Degree
頁數
Number of pages
59
研究生
Author
指導教授
Advisor
召集委員
Convenor
口試委員
Advisory Committee
口試日期
Date of Exam
2017-06-29
繳交日期
Date of Submission
2017-08-11
關鍵字
Keywords
天使投資、早期投資、篩選機制、天使投資人、新創公司
angel investor, investment process, angel investment, early stage investment, start-up firm
統計
Statistics
本論文已被瀏覽 5876 次,被下載 41
The thesis/dissertation has been browsed 5876 times, has been downloaded 41 times.
中文摘要
本研究主要探討國內由大學校友所成立的天使投資之運作機制,研究目的為:(1)探討大學校友組成的天使投資的運作模式,包括提供資金、人脈資源或管理輔導等等。(2)從這些天使投資的運作模式,瞭解大學校友組成的天使投資其內部的成員之組成模式、成員間的連結,及這些天使投資與大學之間的關係。(3)了解大學校友組成之天使投資,其選擇團隊的篩選機制,及投資後的管理模式。
本研究採用半結構式訪談法進行多個案分析,以大學校友組成之天使投資公司作為訪談對象,進行深入訪談。結合過去文獻資料,將訪談的四間天使投資公司資料進行統整與分析後,以五個面向呈現分析結果:成員組成方式、與大學的連結、投資對象、審案模式、投後管理。本研究發現與學校單位合作並提供支援,可接觸到更多案源,而運作面則與學校分開,增加運作的彈性。投資對象設定開放的狀態,蒐集更多的案源。這些具有產業背景的成員,都是義務性的參與審案與投後管理,他們協助並輔導新創團隊,但投入程度則由他們自己來評估。希望能提供給天使投資運作之政策上的建議,並供未來研究參考。
Abstract
This study is an exploratory research to discover those angel investors founded by certain university alumni for their investment policies and business models. The purposes of this study are as follows: (1) To explore how the angel funds were established, including the provision of funds, network resources or management counseling, and so forth. (2) To understand the relationships among those angel investment members, such as the links and relationships among members, as well as the connection between the angels and universities. (3) To understand the investment processes for each angel funds, such as the screening rules, the selection steps and the post-investment management policies.
The research methodology follows the multiple-case study and adopts the semi-structured interview method to record and analyze the interview results for the key members of the four angel investments. The research findings are discussed according to the following five dimensions: the composition of the members in angel investments, the connection between the angels and universities, the investment targets, the mechanism of selecting start-up firms, and the post-investment activities. The research results indicate that angel investments can get in touch with more cases, when they cooperate with universities and provide support. Besides, the operation of angel investments should separate from the operation of universities to gain more operational flexibility. In order to access more cases, the choices of investment targets should not be limited to certain people. Several experts who are enthusiastically in angel investments volunteer to participate in screening start-up firms and the post-investment activities. They give assistance and advice to start-up firms. However, the degree of angel investors’ input depends on their personal situations. The research findings provide suggestions of investment policies and business models to angel investments, as well as a reference for future researches.
目次 Table of Contents
論文審訂書i
摘 要ii
Abstract iii
目 錄v
圖 次vi
表 次vii
第一章緒論1
第一節研究背景1
第二節研究動機與目的2
第三節研究成果之貢獻4
第二章文獻探討5
第一節天使投資5
第二節創業輔導機構之機制6
第三章研究設計11
第一節研究方法11
第二節研究對象11
第三節研究過程13
第四章個案整理16
第一節個案一:A天使投資16
第二節個案二:B天使投資俱樂部20
第三節個案三:C天使投資公司27
第四節個案四:D天使投資公司32
第五章個案資料彙整與分析37
第一節成員組成方式37
第二節與大學的連結39
第三節投資對象41
第四節審案模式42
第五節投後管理44
第六章結論與建議46
第一節結論46
第二節研究限制47
第三節未來建議48
參考文獻49
參考文獻 References
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