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翻譯論文:MTT通過風投公司股權融資的優勢和劣勢

失去控制:有時,風投會在一個組織中持有約10-25%的股份,作為增加他們對業務活動控制權的投資回報。MTT management將失去其在VC公司的股權,這可能會影響其技術的隱私和保密性,也會影響其決策能力(Rahman, 2014)。同樣的,MTT還沒有專利,所以它也會導致知識產權的風險,從而導致盈利能力的喪失。由於VC對MTT的幹預,VC的資助也會降低MTT管理的整體靈活性。

決策過程:風險投資提供金融服務,並且通常參與公司決策,這一過程可能會影響公司正常運作的能力。目前,MTT缺乏必要的技能和知識,導致戰略規劃決策效率低下,可以由VC控制(Porter, 2011)。與此同時,VC在技術專長方面的無能為力也會導致公司決策過程的低效。

內部問題:來自風險投資公司的資金可能會給公司帶來內部問題,因為風險投資公司希望其成員參與公司管理,參與可能降低MTT智能化的決策。此外,風險投資家還可以降低組織使用資本來源的靈活性,這也可能是企業有效決策能力下降的一個原因。與此同時,MTT與風投企業文化的差異可能會造成員工之間協調不當、溝通不暢等內部問題(Cho, et al., 2013)。

財務壓力:風險投資公司為新成立的公司提供資金,使其有效地經營業務。因此,風險投資公司對組織施加財務壓力,要求其向投資者支付高額的利息和股息,這可能對MTT在增加成本融資方面造成不利。這將在很大程度上影響MTT,因為該公司傾向於為新產品開發獲得1000萬英鎊的風險投資。它將使VT提供資金的主要部分,這可能對公司造成財務壓力(Cho, et al., 2013)。根據代理理論,風險投資家的主要目標是確保他們的投資回報,因為他們作為原則,而MTT作為代理,他們不想每次都被監控。由於這種差異,可能會出現沖突,這是風險投資對MTT的不利之處(Tarrade, 2012)。

綜上所述,可以看出MTT通過風投公司進行全金額股權融資所面臨的優勢和劣勢。MTT將獲得的主要好處是改善財務等運營方面的決策,而風險則與VC對企業運營的幹預和控制有關(Cho, et al., 2013)。因此,有必要對MTT的管理層做出適當的風險投資決策。

翻譯論文:MTT通過風投公司股權融資的優勢和劣勢

Loss of control: Sometimes, VC stakes approx 10-25% in an organization as a return of investment that increases their control on the business activities. MTT management will lose its stake in VC firm that may affect the privacy and confidentiality of its technologies and also the decision-making ability (Rahman, 2014). Similarly, MTT does not have a patent yet, so it can also cause the risk of losing its intellectual property rights and consequently its profitability. The VC funding will also reduce the overall flexibility of the management of MTT due to the interference of VC in MTT.
Decision-making process: Venture capital provides the financial services as well as it usually involves in the company decision-making the process that may affect the ability of the firm to work properly. In current, MTT lacks with required skills and knowledge and leading towards ineffective decision making in strategic planning and it can be controlled by VC (Porter, 2011). At the same time, the ineffectiveness of VC in technical expertise for the taken technology can also lead the firm towards the ineffective decision-making process.
Internal problems: The funding from the venture capital firm may create the internal problem for the firm because venture firm wants to include its member in company management for getting involved in decisions making that may reduce the intellectuality of MTT. Also, venture capitalists can also reduce the organisational ability to use the capital sources with the flexibility that can also be a reason for the decline in the effective decision-making ability of the firm. Along with this, the difference in the culture of MTT and venture firm may create the internal problem like improper coordination among the employees, improper communication etc (Cho, et al., 2013).
Financial pressure: Venture firms provide the funds to newly Start-up Companies for running their businesses effectively. Hence, venture firm puts the financial pressure on organizations for pay the high interest and dividend amount to its investors that may create the disadvantage for MTT in terms of increasing the cost funding. This will impact MTT largely because the firm is tending to take venture capital funding of £10 million for new product development. It will make the major part of capital financed from VT that may create the financial pressure on the firm (Cho, et al., 2013). According to agency theory, the main objective of venture capitalists is to ensure a return on their investments as they act as the principle, while MTT will act as the agent and they do not want to be monitored each time. Due to this difference, the conflicts can occur that is a disadvantage for MTT from VC funding (Tarrade, 2012).
Overall, it can be determined that there are several advantages and disadvantages, which can be faced by MTT from the full amount of equity funding through venture capital firm. The major benefit that MTT will gain is to improve in the decision making related to finance and other operational aspects, while the risks are related to interference and control of the VC on the firm operations (Cho, et al., 2013). So, there is a need for the management of MTT to take appropriate decisions for venture capital funding.