本文選題：養(yǎng)老保險(xiǎn)基金 + 投資組合管理　； 參考：《湖北工業(yè)大學(xué)》2017年碩士論文

【摘要】：隨著社會(huì)經(jīng)濟(jì)的不斷發(fā)展,人類醫(yī)療保障體系得到大幅度的健全和完善,人類壽命也隨之得到大幅度延長。然而,由于人類在長時(shí)期內(nèi)實(shí)行的是人口增長無限制政策,致使人口數(shù)量大幅提高,不可避免地造成人口老齡化趨勢。在我國相當(dāng)長的一段時(shí)間內(nèi),人口增長沒有限制性的政策作為約束,導(dǎo)致我國人口數(shù)量龐大。隨著計(jì)劃生育政策的實(shí)施,人口增長速度略有放緩,但隨之而來的是人口老齡化問題愈來愈嚴(yán)重,已經(jīng)成為制約我國經(jīng)濟(jì)社會(huì)發(fā)展最為嚴(yán)峻的挑戰(zhàn)之一。隨著我國老齡人口的增加,養(yǎng)老保險(xiǎn)基金應(yīng)運(yùn)而生,逐漸成為支撐社會(huì)發(fā)展、促進(jìn)經(jīng)濟(jì)增長、保障老齡人口生活的重要工具,是關(guān)乎百姓民生、關(guān)系老年人口利益的生存資料,但也逐漸暴露出收入與支出失衡的問題。養(yǎng)老保險(xiǎn)基金在支付過程中存在各種危機(jī),隱性債務(wù)缺口逐漸擴(kuò)大,因此,尋求解決各種危機(jī)與缺口的方法與途徑勢在必行。本文在第一章論述了研究的背景和重要意義,以及闡述了研究的主要內(nèi)容和方法,總領(lǐng)全文。在第二章中,主要對(duì)國內(nèi)外研究現(xiàn)狀進(jìn)行了梳理總結(jié),明晰研究的主要方向。第三章、第四章和第五章是本文的主要章節(jié),從探究解決養(yǎng)老保險(xiǎn)基金的方法出發(fā),以我國養(yǎng)老保險(xiǎn)基金投資管理為研究對(duì)象,通過分析養(yǎng)老保險(xiǎn)基金投資的規(guī)模、渠道、收益狀況,概括了基金所面臨的問題,根據(jù)Markowitz的投資組合模型分析基金最優(yōu)組合方案,并構(gòu)建了養(yǎng)老保險(xiǎn)基金投資的資產(chǎn)定價(jià)模型,同時(shí)對(duì)基金進(jìn)行風(fēng)險(xiǎn)管理,提出我國養(yǎng)老保險(xiǎn)基金投資風(fēng)險(xiǎn)控制的相關(guān)措施。通過分析,本文得到以下幾點(diǎn)結(jié)論:1)我國養(yǎng)老保險(xiǎn)體系由三大支柱共同發(fā)揮作用,但占主要地位的仍然是社會(huì)基本養(yǎng)老保險(xiǎn)基金,仍然是主流,其他兩大支柱僅發(fā)揮著輔助作用。2)養(yǎng)老保險(xiǎn)基金的投資管理,最重要的就是要做好養(yǎng)老保險(xiǎn)基金投資組合的管理。如果在實(shí)際的投資過程中能夠有效地進(jìn)行組合投資,養(yǎng)老保險(xiǎn)基金投資所面臨的問題就能得到更好的解決。3)養(yǎng)老保險(xiǎn)基金的投資管理,還需要對(duì)其投資風(fēng)險(xiǎn)進(jìn)行管理和控制。為了防范基金投資的風(fēng)險(xiǎn),使投資收益最大化,應(yīng)當(dāng)遵循安全性與獲利性兼顧的原則,及時(shí)對(duì)投資風(fēng)險(xiǎn)作出反應(yīng),制定并執(zhí)行風(fēng)險(xiǎn)應(yīng)對(duì)策略,評(píng)估投資風(fēng)險(xiǎn)應(yīng)對(duì)效果,確定最優(yōu)投資收益與風(fēng)險(xiǎn)組合方案,建立健全基金風(fēng)險(xiǎn)監(jiān)控機(jī)制。
[Abstract]:With the continuous development of social economy, the human medical security system has been greatly improved and improved, and the human life expectancy has also been greatly extended. However, due to the policy of unlimited population growth in a long period of time, the population has been greatly increased, which inevitably leads to the aging trend of the population. In our country for a long time, the population growth is not restricted by the restrictive policy, which leads to the huge population in our country. With the implementation of family planning policy, the rate of population growth has slowed slightly, but the problem of population aging has become more and more serious, which has become one of the most severe challenges restricting the economic and social development of our country. With the increase of the aging population in our country, the endowment insurance fund has emerged as the times require. It has gradually become an important tool to support social development, promote economic growth, and ensure the life of the elderly population. It is the survival data related to the livelihood of the people and the interests of the elderly population. But it also gradually exposed the imbalance between income and expenditure. There are various crises in the process of payment of pension insurance fund, and the implicit debt gap is gradually widening. Therefore, it is imperative to seek ways and means to solve the various crises and gaps. In the first chapter, the background and significance of the research are discussed, as well as the main contents and methods of the research. In the second chapter, the current research situation at home and abroad is summarized, and the main research direction is clarified. The third chapter, the fourth chapter and the fifth chapter are the main chapters of this paper. Starting from exploring the method of solving the pension insurance fund, taking the investment management of the pension insurance fund in our country as the research object, the paper analyzes the scale and channel of the endowment insurance fund investment. According to Markowitz's portfolio model, the optimal portfolio scheme of the fund is analyzed, and the asset pricing model of the pension insurance fund is constructed. At the same time, the risk management of the fund is carried out. Put forward the relevant measures of investment risk control of endowment insurance fund in our country. Through the analysis, this paper draws the following conclusions: 1) the pension insurance system of our country is played by the three pillars together, but the main position is still the social basic endowment insurance fund, which is still the mainstream. The other two pillars only play an auxiliary role. 2) the investment management of the pension insurance fund is the most important one is to manage the investment portfolio of the pension insurance fund. If the portfolio investment can be carried out effectively in the actual investment process, the problems faced by the pension fund investment can be solved better. 3) the investment management of the pension insurance fund needs to be managed and controlled. In order to prevent the risk of fund investment and maximize the investment income, we should follow the principle of both safety and profit, react to the investment risk in time, formulate and implement the risk response strategy, and evaluate the response effect of investment risk. To determine the optimal investment return and risk portfolio, establish and improve the fund risk monitoring mechanism.
【學(xué)位授予單位】：湖北工業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F842.67

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