مدل عملیاتی به‌کارگیری صندوق سرمایه‌گذاری خصوصی جهت پیاده‌سازی تأمین مالی پروژه‌ای

نوع مقاله : مقاله پژوهشی

نویسندگان

1 نویسنده مسئول: دکتری مدیریت مالی، دانشکده معارف اسلامی و مدیریت، دانشگاه امام صادق علیه السلام، تهران، ایران

2 دانشجوی دکتری مدیریت مالی، واحد علوم و تحقیقات، دانشگاه آزاد اسلامی، تهران، ایران

3 دکتری مدیریت مالی، دانشیار دانشکده معارف اسلامی و مدیریت، دانشگاه امام صادق علیه السلام، تهران، ایران

چکیده

تأمین مالی پروژه‌ای یکی از ابزارهای مهم و کاربردی در کشورهای توسعه‌یافته و درحال‌توسعه است و بسیاری از پروژه‌های متوسط و بزرگ‌مقیاس در دنیا با استفاده از این رویکرد اجرایی می‌شوند. متأسفانه این رویکرد به‌صورت واقعی در کشور ما نتوانسته راه به جایی ببرد و یکی از علل اصلی این عدم توفیق ضعف شناخت و تبیین الزامات و ابعاد این شیوه می‌باشد. با توجه ‌به پویایی بازار سرمایه و ابزارهای نوظهوری نظیر صندوق سرمایه‌گذاری خصوصی به نحو احسن می‌توان از رویکرد تأمین مالی پروژه‌ای در این ساختارها بهره‌گیری نمود و منابع و حمایت‌های سرمایه‌گذاران نهادی و بانکی و غیره را در قالب این ساختار و با رویکرد تأمین مالی پروژه‌ای سامان‌دهی نمود. بدین منظور در این پژوهش تلاش شد ضمن شناخت بهتر موضوع، با بررسی نسبتاً جامع منابع علمی داخلی و خارجی و اخذ نظرات خبرگان به طراحی مدل با استفاده از روش تحلیل مضمون صورت گیرد و با سنجش و بازآرایی این عوامل مدل عملیاتی به‌کارگیری صندوق سرمایه‌گذاری خصوصی جهت پیاده‌سازی تأمین مالی پروژه‌ای از فاز مطالعاتی و گزینش طرح تا مراحل ارزیابی و کارشناسی و در نهایت تکمیل و بهره‌برداری و اعمال سیاست خروج صندوق سرمایه‌گذاری خصوصی از شرکت استخراج گردید.

کلیدواژه‌ها


عنوان مقاله [English]

Operational Model of Using the Private Equity Fund to Implement Project Financing

نویسندگان [English]

  • ehsan zakernia 1
  • shahab Khodabakhshiyan 2
  • ALI SALEH ABADI 3
1 Corresponding Author: PH.D. in financial management, Faculty of Islamic Sciences and Management, Imam Sadegh University, Tehran, Iran
2 Ph.D Candidate in Financial Management, Science and Research Branch, Islamic Azad University, Tehran, Iran
3 PH.D. in financial management, Associate Professor, Department of Islamic Sciences and Management, Imam Sadegh University, Tehran, Iran
چکیده [English]

Project financing is one of the most important and practical instruments in developed and developing countries and many medium and large scale projects in the world are implemented by using this approach. Unfortunately, this approach has not really been able to Be implemented in Iran our country, and one of the main reasons for this failure is the lack of knowledge and explanation of the requirements and dimensions of this method. Due to the dynamics of the capital market and emerging tools such as the private Equity fund, the project financing approach can be effectively used in these structures and the resources and supports of institutional and banking investors, etc. be used within the framework of this structure and project financing approach.
For this purpose, in this study, while better understanding the issue, a relatively comprehensive review of internal and external scientific sources and obtaining expert opinions to design the model using thematic analysis method and by measuring and rearranging these factors, The operational model of using a private Equity fund to implement project financing In order to implement project financing in Iran, from the study and project selection phase to the evaluation, and finally the completion, operation and implementation of the private investment fund exit policy from the company were extracted

کلیدواژه‌ها [English]

  • Private Equity Fund
  • Financing
  • Project Financing
  • Financing Instruments
  • Theme Analysis Method
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