凯建投资管理有限公司投资管理中的风险控制

发布时间：2018-03-06 23:23

本文选题：风险　切入点：风险控制　出处：《兰州理工大学》2013年硕士论文　论文类型：学位论文

【摘要】：本文研究了国内外主要的风险管理理论,包括早期传统风险管理理论中的期限结构理论、投资组合理论和布莱克-斯科尔斯期权定价模型,以及限贷风险管理理论中的VaR模型和全面风险管理理论。在此基础上,分析了凯建投资管理有限公司的投资风险管理现状,认为其存在风险管理文化薄弱、缺乏风险预警体系、没有进行投资阶段性管理、危机应对机制不完善等不足。为此,作者以国内证券投资普遍存在的系统性风险种类和非系统性风险种类为对照,建议采用国民经济增长率、国内投资动向、信贷资金供给等8种系统风险识别方法和道氏理论、艾略特波段理论、制图法等非系统风险识别方法。作者通过对凯建投资管理有限公司投资风险的梳理和识别,建议其构建投资风险预警体系。作者认为风险预警体系的应该具备代表性、全面性、稳定性、灵敏性、连续性、互补性、综合性七个方面的特点,投资预警体系应该包含明确警情、寻找警源、分析警兆和预报警度等四个方面的内容,且根据金融企业的特点设计了一套预警指标。同时作者还针对凯建投资管理有限公司投资阶段性管理不足的问题,建议根据其风险控制的组织体系,明确各组织、部室的职责,进行投资风险过程管理。作者设计了凯建投资管理有限公司投资过程的三段式管理的模式,力求做到事前合规管理、事中业务监控、事后稽核检查,将投资风险控制管理从静态变成了动态。此外,作者还分析了凯建投资管理有限公司操作中可能会出现的管理标准单一、风险管理培训要系统化、防止人为控制过度、阶段性分析不足和财务人员不参与调研等五个问题,并提出了相应的降低风险的措施。最后,在结论与展望中作者希望公司未来能不断创新和丰富风险管控手段,制定更为精细化的差异化风险控制政策来适应发展的需要,并建议根据国家五部委联合发布的《企业内部控制基本规范》及配套指引,建立企业内部控制体系。公司除了投资业务外,还应对战略管理、财务管理、采购管理、合同管理等企业其他管理流程也制定相应的风险控制制度从而建立起企业的全面风险管理体系。
[Abstract]:This paper studies the main risk management theories at home and abroad, including term structure theory, portfolio theory and Black-Scholes option pricing model in the early traditional risk management theory. Based on the analysis of the present situation of investment risk management in Kaijian Investment Management Co., Ltd, the author thinks that the risk management culture is weak and the risk warning system is lacking. There is no stage management of investment, the crisis response mechanism is not perfect and so on. Therefore, the author proposes to adopt the growth rate of national economy by comparing the types of systemic risk and non-systemic risk that exist in domestic securities investment. Eight systematic risk identification methods, such as domestic investment trends, credit fund supply and Dow's theory, Eliot band theory, By combing and identifying the investment risk of Kaijian Investment Management Co., Ltd., the author suggests that it should build an investment risk early warning system. The author thinks that the risk early warning system should be representative and comprehensive. The characteristics of stability, sensitivity, continuity, complementarity and comprehensiveness. The investment early warning system should include four aspects: clear warning situation, searching for warning sources, analyzing warning signs and warning degree. According to the characteristics of financial enterprises, the author designs a set of early warning indicators. At the same time, aiming at the problem of inadequate investment stage management of Kaijian Investment Management Co., Ltd, the author suggests that according to the organization system of risk control, the responsibilities of each organization and department should be clarified. The author has designed a three-stage management model of investment process of Kaijian Investment Management Co., Ltd., which aims to achieve prior compliance management, business monitoring in matters, post-audit inspection, In addition, the author also analyzes the single management standard that may appear in the operation of Kaijian Investment Management Co., Ltd., and the risk management training should be systematized to prevent excessive artificial control. Five problems, such as lack of periodic analysis and non-participation of financial personnel, are put forward. Finally, in conclusion and prospect, the author hopes that the company can innovate and enrich the risk management methods in the future. To formulate a more refined differentiated risk control policy to meet the needs of development, and suggest that according to the "basic norms of internal control of enterprises" issued jointly by the five ministries and departments of the country and supporting guidelines, Establish the internal control system of the enterprise. In addition to the investment business, the company should also deal with strategic management, financial management, procurement management, Other management processes such as contract management also establish the corresponding risk control system to establish the overall risk management system.
【学位授予单位】：兰州理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F272.3;F832.39

【参考文献】