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رأس مال المخاطر بديل مستحدث لتمويل المؤسسات الصغيرة والمتوسطة في الجزائر

العنوان بلغة أخرى: Le Capital-Risque est Une Alternative Innovante au Financement des Petites et Moyennes Entreprises en Algérie
Venture Capital Is an Innovative Alternative to Financing Small and Medium Enterprises in Algeria
المصدر: مجلة اقتصاديات الأعمال والتجارة
الناشر: جامعة محمد بوضياف المسيلة - كلية العلوم الاقتصادية والتجارية وعلوم التسيير
المؤلف الرئيسي: حفصي، رشيد (مؤلف)
مؤلفين آخرين: دادن، عبدالغفور (م. مشارك)
المجلد/العدد: ع6
محكمة: نعم
الدولة: الجزائر
التاريخ الميلادي: 2018
الشهر: سبتمبر
الصفحات: 156 - 184
ISSN: 2543-3709
رقم MD: 1065375
نوع المحتوى: بحوث ومقالات
اللغة: العربية
قواعد المعلومات: EcoLink
مواضيع:
كلمات المؤلف المفتاحية:
تمويل | راس مال مخاطر | مؤسسات صغيرة ومتوسطة | الجزائر | Finance | Venture Capital | Small and Medium Enterprises | Algeria
رابط المحتوى:
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المستخلص: يعتبر تمويل برأس المال المخاطر من بين الطرق الحديثة لتمويل المؤسسات الصغيرة والمتوسطة في العالم إذا يؤدي إلى زيادة النمو الاقتصادي وخلق مناصب الشغل عوض الاقتصار فقط على الطرق التقليدية للتمويل وفي مقدمتها التمويل البنكي، يهدف هذا البحث إلى إبراز دور نشاط رأس المال المخاطر كبديل مستحدث لتمويل المؤسسات الصغيرة والمتوسطة من خلال عرض تجارب بعض الدول ثم التطرق إلى التجربة الجزائرية في هذا المجال. وقد خلصت نتائج بحثنا أن التمويل برأس المال المخاطر في الجزائر لا يزال في المرحلة الجنينية إذ تعتبر هامشية في تمويل المؤسسات الصغيرة والمتوسطة مقارنة مع النتائج المحققة من طرف البنوك وهياكل الدعم والمرافقة التي أنشأتها الدولة في هذا المجال وبالتالي على الدولة البذل المزيد من الجهد لترقية هذا النوع من المؤسسات لرأس المال المخاطر.

The financing of venture capital is among the modern ways of financing small and medium enterprises in the world if it leads to increased economic growth and the creation of jobs instead of only the traditional ways of financing, primarily bank financing, and therefore the state should do more to promote this type and it is known that Small and medium enterprises usually rely heavily on bank financing. This is evidenced by the field study carried out by CRAD in 2003 that the performance of the financial system does not allow the development of private sector institutions, In the period of take-off and expansion, do not face the obstacles to financing by borrowing, In this regard, many industrial countries have been able to devise new ways to improve the status of financing small and medium enterprises, especially the category of innovative institutions that have a big role in production, operation and competition. Among these methods is the method of financing with risk capital, a modern technology that allows small and micro enterprises to finance their projects Which conventional banks are unable to finance. In this paper, we will attempt to review risk capital technology as an innovative financing alternative that replaces conventional financing and is in line with the financial requirements of small and medium enterprises, Based on the above, the main problem can be addressed in the following key question: To what extent does venture capital technology contribute to raising the financial capacity of small and medium enterprises in Algeria? To address this problem, this paper has been divided into axes and represented in the conceptual and theoretical framework of venture capital. The second topic focuses on the experiences of some countries in the field of risk capital financing. Finally, exposure to the experiences of some countries in the field of risk capital financing and comparing it with experience The algerian. The study concluded with a number of conclusions and recommendations, among which: Risk capital financing is a financing alternative for small and medium enterprises as well as other sources of financing, mainly bank loans, rental loans, bank facilities, etc.; Algeria is inclusive and has been included by the legislator with investment capital, which requires the establishment of a legal arsenal for the activity of venture capital institutions taking into account the economic and social environment in which small and medium enterprises operate. The risk capital technology in Algeria in the embryonic stage is considered marginal in the financing of small and medium enterprises compared to the results achieved by the banks and the support and accompanying structures established by the State in this field. Therefore, the state should do more to upgrade these institutions through taking measures to strengthen Protection of intellectual property rights and patents, creation of specialized risk capital frameworks. - Most of the small and medium enterprises in Algeria do not have the entrepreneurial culture because of their refusal to open their capital. - Lack of coordination between government programs and universities in relation to innovative projects and marketing them until they are financed by the companies.

ISSN: 2543-3709