本文先分析了创业投资的概念和介绍了中国创业投资的发展概况，
随后阐述了 AHP 层次分析法的基本思想和应用思路，包括构造层次分
析结构模型、九分位比例标度、 判断矩阵的一致性检验和权重计算方
法。
在将 AHP 方法应用于 ITAT 创业投资项目风险评估实例的过程中，
首先按照创业投资的一般特点构造了一个完整的创业投资风险因素指标
体系，并分析各风险因素的重要性变化规律；其次依据 ITAT 项目自身
的特点选取了指标体系中的关键风险因素并得出各因素的权重；之后主
要基于数据分析对每个因素的风险可能性进行评估，从而判断 ITAT 项
目的风险可能性情况，在做出结论的同时也针对该项目给予建议；最
后，对 AHP 层次分析法在创业投资风险评估中的应用做评价和指出其
局限性以及应用推广。
关键词：创业投资，风险评估，风险因素，AHP 层次分析法，判断矩阵
ABSTRACT
As a financial service tool with the high risk and high income, venture
capital needs investors by judging the risk possibilities to avoid high risks.
This thesis aims to providing a useful tool for risk evaluation through
applying Analytic Hierarchy Process (AHP) to ITAT venture project.
This thesis firstly makes analysis on the concept of venture capital and
introduces its developing situation in China, and then introduces the basic
theory and application of Analytic Hierarchy Process (AHP), including AHP
model, nine-quantile scale, consistency test of judgment matrix and weight
calculation.
In the application of AHP method for risk evaluation of ITAT venture
project, firstly I construct a risk factor indicator system according to the
general characteristics of venture capital and analyze the importance
alternation law of the main factors, then base on the characteristics of ITAT
project itself, I select key risk factors and calculates their weights, afterwards
by evaluating risk possibilities of each elements base on the data analysis,
judge the risk possibility of the whole project and give suggestions about
ITAT venture project, finally evaluate the application and point out
limitations and prospect of AHP method in the field of venture capital.
KEY WORDS: venture capital, risk evaluation, risk factor, AHP method,
judgment matrix
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