本文關(guān)鍵詞：福建銀泰匯富投資管理有限公司治理模式的案例研究　出處：《蘭州大學(xué)》2015年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 私募投資基金 公司治理 治理模式選擇

【摘要】：隨著我國經(jīng)濟的快速發(fā)展,社會的財富積累規(guī)模越來越大,對財富管理的需求層次也越來越多樣化,同時,多層次資本市場的發(fā)展,也需要多層次機構(gòu)投資者的參與。在此經(jīng)濟發(fā)展需求的推動下,這幾年我國私募投資基金發(fā)展大大提速,成為資本市場和財富管理的一支中堅力量。但是,由于政治、經(jīng)濟、社會、法律等因素,中國的私募基金行業(yè)發(fā)展起步較晚,私募基金的發(fā)展一直處于一種較為無序的狀態(tài)中。這造成私募基金公司治理的理論和實踐,包括組織形式、治理架構(gòu)、治理模式等都還很不完善,嚴(yán)重影響了中國私募基金的健康發(fā)展和投資者的權(quán)益保障。一些私募證券投資基金管理人為了追求短期利益,陷入了一種瘋狂無序的逐利循環(huán)中,完全忽略了基金管理人的公司治理和規(guī)范經(jīng)營問題,這對私募證券投資基金行業(yè)的發(fā)展大為不利,甚至對我國金融體系的安全造成了很大的負面影響。因此,解決私募證券投資基金的公司治理問題已顯得非常急迫。為此,論文通過對契約理論、公司治理理論、人力資本理論、信息不對稱理論等經(jīng)濟學(xué)理論的應(yīng)用,以及對國內(nèi)外私募基金公司治理的比較,嘗試性地總結(jié)出公司治理的D. E. I. R. C分析框架。此后,利用D. E. I. R. C分析框架,對銀泰匯富私募證券投資基金公司進行了深入的案例分析。即通過分析提煉該基金公司的主要特征和公司治理模式的關(guān)鍵問題,有針對性地提出了完善私募基金公司治理結(jié)構(gòu)的路徑和方法,并為該公司建立完善科學(xué)的公司治理模式設(shè)計和比較了多種的選擇方案。論文通過對私募證券投資基金內(nèi)部治理機制的研究和治理結(jié)構(gòu)選擇模型的設(shè)計,得出了治理模式選擇的核心目標(biāo)是責(zé)權(quán)利關(guān)系的協(xié)調(diào)、平衡和有效益發(fā)展的結(jié)論,并提出了因地制宜,建立自身適用的治理模式選擇模型的方法。這對私募基金投資的相關(guān)理論、私募基金的價值研究以及公司治理的理論研究都具有補充和完善的積極意義。也為如何創(chuàng)造公平的市場環(huán)境、完善充分的信息披露機制、建立客觀的市場評價機制等外部治理研究提供有效參考。論文對于案例研究對象及類似企業(yè)的公司治理模式的優(yōu)化將具有較強的應(yīng)用指導(dǎo)意義。
[Abstract]:With the rapid development of our economy, the scale of social wealth accumulation is becoming larger and larger, the demand level of wealth management is becoming more and more diversified, at the same time, the development of multi-level capital market. It also needs the participation of multi-level institutional investors. Driven by the demand of economic development, the development of private equity investment funds in China has been greatly accelerated in recent years, and has become a backbone of capital market and wealth management. Due to political, economic, social, legal and other factors, China's private equity fund industry started relatively late. The development of private equity funds has been in a more disorderly state, which leads to the theory and practice of private equity fund corporate governance, including organizational form, governance structure, governance model are still very imperfect. It seriously affects the healthy development of Chinese private equity funds and the protection of investors' rights and interests. In order to pursue short-term interests, some managers of private equity investment funds are caught in a crazy and disorderly profit cycle. Completely ignored the fund managers corporate governance and regulatory management, which is greatly adverse to the development of private equity investment funds industry, and even to the security of our financial system caused a great negative impact. It is urgent to solve the problem of corporate governance of private equity investment fund. Therefore, the paper applies the contract theory, corporate governance theory, human capital theory, information asymmetry theory and other economic theories to the application of the contract theory, corporate governance theory, human capital theory, information asymmetry theory and so on. As well as the domestic and foreign private equity fund corporate governance comparison, try to sum up the corporate governance of the D.E.I.R.C analysis framework. Using the analytical framework of D.E.I.R.C. This paper makes an in-depth case study on Yintai Hui Fu Private Securities Investment Fund Company, that is, through analyzing and refining the main characteristics of the fund company and the key issues of the corporate governance model. It puts forward the path and method of perfecting the governance structure of private equity fund company. And for the company to establish a sound and scientific corporate governance model design and comparison of a variety of options. This paper through the private equity investment fund internal governance mechanism and governance structure selection model design. It is concluded that the core goal of the choice of governance mode is the coordination, balance and beneficial development of the relationship between responsibility and right, and puts forward measures to suit the local conditions. The method of establishing its own suitable governance model selection model, which is relevant to the theory of private equity investment. The research on the value of private equity fund and the theory of corporate governance have positive significance of supplement and perfection, and also for how to create a fair market environment and improve the adequate information disclosure mechanism. Establishing objective market evaluation mechanism and other external governance research provide effective reference. This paper will have a strong application guidance significance for the case study object and the similar enterprise corporate governance model optimization.
【學(xué)位授予單位】：蘭州大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2015
【分類號】：F271;F832.39

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本文編號：1416130