本文選題：全國社會保障基金　切入點：境外　出處：《廣西民族大學》2017年碩士論文　論文類型：學位論文

【摘要】：全國社�；鹗俏覈匾膽�(zhàn)略儲備基金,專門用于人口老齡化高峰時期的養(yǎng)老保險等社會保障支出的補充、調(diào)劑。近年來,全國社�；鹪诰硟�(nèi)的投資運營中取得了較好的成績,但在境外方面卻表現(xiàn)不佳。本文從基金境外投資的現(xiàn)狀入手,對其目標原則、運營模式、資產(chǎn)配置等方面進行了詳細分析,尤其是對投資風險進行了較為系統(tǒng)的計量分析,發(fā)現(xiàn)基金在境外投資的過程中主要存在以下問題:間接投資成本過高,委托代理體制不健全;過分依賴行政手段,法律法規(guī)嚴重滯后;社會監(jiān)督效率不高,信息披露系統(tǒng)不完善;嚴格的數(shù)量限制與松散的平行監(jiān)管共存;資金來源不足,投資渠道狹窄;資產(chǎn)區(qū)域分布集中,投資策略有待完善。針對以上問題,借鑒海外代表性國家的經(jīng)驗教訓,并結(jié)合我國發(fā)展的實際情況,提出了以下建議:控制間接投資成本,完善委托代理體制;健全基金境外投資的法律法規(guī);提升信息服務(wù)質(zhì)量,增強社會監(jiān)督效率:統(tǒng)籌協(xié)調(diào)監(jiān)管機構(gòu),適當修改數(shù)量限制;科學決策資產(chǎn)配置,靈活調(diào)整投資范圍;拓寬基金融資渠道,切實防范結(jié)匯風險。
[Abstract]:The National Social Security Fund is an important strategic reserve fund in China, which is specially used to supplement and adjust social security expenditure such as pension insurance during the peak period of population aging. In recent years, The National Social Security Fund has made good achievements in the domestic investment and operation, but it has not performed well abroad. This paper starts with the present situation of the fund's overseas investment, and discusses its target principle, operation mode, The asset allocation and other aspects are analyzed in detail, especially the systematic measurement and analysis of investment risk. The main problems in the process of fund investment abroad are found: the indirect investment cost is too high, the principal-agent system is not perfect; Excessive reliance on administrative means, serious lag of laws and regulations, low efficiency of social supervision, imperfect information disclosure system, strict quantitative restrictions and loose parallel supervision, insufficient sources of funds and narrow investment channels; The regional distribution of assets is concentrated and the investment strategy needs to be improved. In view of the above problems, the paper draws lessons from the experiences of overseas representative countries and puts forward the following suggestions: to control the indirect investment cost, and to combine with the actual situation of China's development. Perfecting the principal-agent system; perfecting the laws and regulations of the fund's overseas investment; improving the quality of information service and enhancing the efficiency of social supervision; coordinating the supervision organization as a whole, modifying the quantity limit appropriately; making scientific decision on the allocation of assets and adjusting the investment scope flexibly; Widen fund financing channel, prevent the risk of settlement of foreign exchange conscientiously.
【學位授予單位】：廣西民族大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F842.61;F832.51;F125

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