本文關(guān)鍵詞： 私募基金 監(jiān)管模式 監(jiān)管制度　出處：《河北經(jīng)貿(mào)大學(xué)》2011年碩士論文　論文類型：學(xué)位論文

【摘要】：近年,我國證券市場風(fēng)起云涌,私募基金以其鮮明的特色活躍于證券市場,其龐大的規(guī)模引起了越來越多的關(guān)注。本文的研究對象即是我國證券市場中的私募基金,私募基金作為一種投資工具在國外已經(jīng)歷了很長的發(fā)展階段,有相對廣泛的發(fā)展空間,已逐步形成一整套適應(yīng)社會(huì)發(fā)展的成熟的運(yùn)作模式。但由于私募基金在我國出現(xiàn)的歷史較短,因此不論在法律上還是在管理上都存在許多不成熟、不規(guī)范的地方。所以本文認(rèn)為基于我國目前的金融產(chǎn)業(yè)發(fā)展?fàn)顩r,應(yīng)首先從法律上給予私募基金明確的地位,使其合法化,并對其建立相應(yīng)的監(jiān)管制度,降低其風(fēng)險(xiǎn),促進(jìn)其發(fā)展,為我國的經(jīng)濟(jì)發(fā)展起到推波助瀾的作用。 本文除引言外共分四章： 第一章是私募基金監(jiān)管制度概述,首先對我國發(fā)展私募基金的可行性進(jìn)行了有力的論證,其次闡述了私募基金的含義,即通過非公開方式,面向少數(shù)特定資格的投資者募集資金,通�；砻鈱徍硕O(shè)立的投資基金,并分析了私募基金的特征及與相關(guān)概念的辨析；通過對私募基金監(jiān)管三種模式即自律監(jiān)管模式、政府監(jiān)管模式和折中型監(jiān)管模式進(jìn)行系統(tǒng)的論述,對這三種監(jiān)管模式的優(yōu)缺點(diǎn)進(jìn)行了詳細(xì)的分析。 第二章為發(fā)達(dá)國家私募基金監(jiān)管制度的比較與借鑒。國外發(fā)達(dá)市場對私募基金有著不同于公募基金的監(jiān)管制度,本章通過介紹分別作為自律監(jiān)管模式、政府監(jiān)管模式和折中型監(jiān)管模式的典型代表英國、日本和美國的私募基金監(jiān)管制度的具體內(nèi)容,在此基礎(chǔ)上分立法和監(jiān)管兩個(gè)方面系統(tǒng)分析了發(fā)達(dá)國家私募基金監(jiān)管制度對我國的啟示,提出發(fā)達(dá)國家私募基金監(jiān)管制度值得我國借鑒之處。 第三章是我國私募基金監(jiān)管現(xiàn)狀分析。本章對我國私募基金監(jiān)管的現(xiàn)狀進(jìn)行了系統(tǒng)深入的分析,提出我國私募基金監(jiān)管存在監(jiān)管思路不明確、監(jiān)管理念不明確、監(jiān)管的目標(biāo)、原則與內(nèi)容不明確、監(jiān)管機(jī)構(gòu)不明確等四個(gè)問題。最后分四個(gè)方面即缺乏合法身份,游離于監(jiān)管之外,不利于基金市場的穩(wěn)定；缺乏具有合法性的基金管理人與理性投資者、運(yùn)作不規(guī)范,危及社會(huì)信用基礎(chǔ)；內(nèi)幕交易和操縱股價(jià)現(xiàn)象嚴(yán)重；托管方監(jiān)管力度不夠等方面論述了建立我國私募基金監(jiān)管制度的必要性。 第四章為我國私募基金監(jiān)管制度的具體構(gòu)建。本章對構(gòu)建適合我國國情的私募基金監(jiān)管制度提出了具體建議：首先是要確立私募基金的合法地位,這是構(gòu)建我國私募基金監(jiān)管制度的重要方面,其次,我國私募基金的監(jiān)管應(yīng)遵循保護(hù)投資者、監(jiān)管市場化以及規(guī)范系統(tǒng)化的監(jiān)管原則；再次,我國應(yīng)采取以自律監(jiān)管為主、適度政府監(jiān)管為輔的監(jiān)管模式,同時(shí)還應(yīng)明確證監(jiān)會(huì)作為私募基金監(jiān)管的主要監(jiān)管機(jī)構(gòu)；最后提出監(jiān)管的具體措施,包括界定私募基金的合格投資者、確立適合我國私募基金的組織形式、規(guī)范私募基金的資金來源及投資方向、建立市場準(zhǔn)入制度及便捷的發(fā)行備案制度、完善私募基金的信息披露和風(fēng)險(xiǎn)提示制度、完善法律責(zé)任體系,以期能夠建立起適合我國私募基金特點(diǎn)的監(jiān)管制度。
[Abstract]:In recent years, raging like a storm in China's securities market, private equity funds active in its distinctive characteristics in the securities market, its size has attracted more and more attention. This is the object of study in China's securities market private equity funds, private equity funds as an investment tool has experienced a long development stage in foreign countries. Has a relatively broad space for development, has gradually formed a set of social development to adapt to the mature mode of operation. But because the private equity funds appear in our short history, whether in law or in the management there are many immature, non-standard place. So this paper believes that China's current financial industry development based on the situation, should first be given to private equity funds from the legal position clear, legitimize, and the establishment of appropriate regulatory system, reduce the risk, to promote its development, for the economic development of our country It plays a role in boosting the waves.
In addition to the introduction, this paper is divided into four chapters.
The first chapter is an overview of private equity fund regulatory system, firstly the feasibility of development of private equity funds in China is a strong argument, then explained the meaning of private equity funds, namely through non-public way, a few specific qualifications for investors to raise funds, are exempted from the audit and the establishment of investment funds, and analyzes the characteristics of private equity funds and related concepts; the regulation of private equity funds three mode of self regulation mode, government supervision mode and compromise supervision mode systematically, the advantages and disadvantages of the three models of supervision in detail.
The second chapter is the comparison and reference of the supervision system of private fund in developed countries. The developed foreign market is different from the public fund supervision system of private equity funds, this chapter introduces respectively as a self regulatory model, a typical representative of the government supervision mode and compromise supervision mode of Britain, the specific content of the regulatory system of private equity funds in Japan and the United States based on this, the two aspects of the legislative and regulatory implications of supervision system of private fund in developed countries to China, put forward the supervision system of private fund in developed countries is worthy of our reference.
The third chapter is the analysis of the status quo of China's private equity fund supervision. The system in-depth analysis of this chapter status of supervision of private equity fund, put forward the supervision of China's private equity fund regulatory idea is not clear, not clear regulatory philosophy, regulatory objectives, principles and content is not clear, regulatory agencies do not clear the four problems. The last is divided into four aspects: lack of legal status, free from regulation, is not conducive to the stability of the fund market; the lack of legitimate fund managers and investors, the operation is not standardized, endanger the foundation of social credit; insider trading and stock price manipulation phenomenon is serious; discusses the necessity to establish the supervision system of private fund in China hosted party supervision is not enough and so on.
The fourth chapter is the construction of supervision system of private fund in our country. The supervising system of this chapter for China's national conditions for the construction of the proposed specific recommendations: first, to establish the legal status of private equity funds, this is an important aspect of constructing supervision system of private fund in China of the time, China's private equity fund supervision should be follow the protection of investors, regulatory principles of systematic monitoring and regulating the market; thirdly, China should adopt self-regulation, moderate government regulation supplemented by the mode of regulation, the Commission should also be clear as the main regulator of private fund; finally puts forward the specific measures of supervision, including the definition of qualified investors in private equity funds. For the establishment of China's private equity fund organization, source of funds and investment direction of the norm of private equity funds, the establishment of market access and convenient distribution system and filing system, end The information disclosure of good private fund and the system of risk prompting, and the system of legal responsibility are perfected so as to establish a regulatory system suitable for the characteristics of private fund in our country.

【學(xué)位授予單位】：河北經(jīng)貿(mào)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2011
【分類號】：D922.28;F832.51

【引證文獻(xiàn)】

相關(guān)碩士學(xué)位論文 前1條

1 劉宸希;中國私募基金規(guī)制研究[D];吉林大學(xué);2013年

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本文編號：1529914