我国基金管理公司绩效评价体系的构建及应用

发布时间：2018-03-11 00:32

本文选题：基金管理公司　切入点：绩效评价指标体系　出处：《兰州理工大学》2013年硕士论文　论文类型：学位论文

【摘要】：自我国证券投资基金管理公司从1998年起步初的6家基金管理公司,发展到2012年末的70家基金管理公司,已经具有了一定的规模。随着近年来我国经济的迅速发展,我国的资本市场日趋成熟,证券投资基金行业也进入子快速发展阶段。基金是一种较新的集合投资工具,已经越来越广泛的被大众投资者认识和接受。目前我国对于基金的研究多数集中在基金的业绩评价方面,从基金管理公司的角度出发进行的研究还较少,实际上基金管理公司是基金的直接操控者,决定着基金的投资决策,对基金的重要性毋庸置疑,基金管理公司的投资运营能力是决定所管理基金业绩的重要因素,所以构建适合我国基金管理公司绩效的评价体系非常有必要。因此,本文选择了从基金管理公司的角度进行研究,构建基金管理公司绩效评级体系并进行实证应用。构建能够科学全面的评价基金管理公司绩效水平的指标体系对投资者选择基金有重要的指导意义,投资者可以据此在不同的基金管理公司之中做出合理的选择进而选择基金,从而获取尽可能大的收益。此外,为基金管理公司了解自身的优势和不足提供了参考依据,从而为公司的长远发展起到积极作用。从监管部门的角度来看,可以据此制定相关政策,促进我国基金市场健康发展。本文借鉴国内外关于基金经管理公司绩效评价的相关研究,为了实现将不同规模的基金管理公司绩效水平进行对比,选择51家基金管理公司作为研究对象,以2008-2012年5年的相关数据为依据对我国基金管理公司绩效评价体系进行构建,并对构建的指标体系进行了理论检验及实证检验,来验证评价体系的科学性、全面性、适用性。其中基金管理公司绩效评价体系的理论验证采用了平衡计分卡理论,既考虑了绩效评价体系的合理性,也考虑了绩效评价体系的战略性。通过因子分析法对我国基金管理公司的绩效水平利用构建的评价体系进行实证研究,根据实证研究的结果,结合相关金融理论,联系我国基金管理公司发展现状,做出合理解释并提出自己的建议。
[Abstract]:Since China's securities investment fund management company started from 6 fund management companies in 1998 to 70 fund management companies in end of 2012, it has already had a certain scale. With the rapid development of China's economy in recent years, The capital market of our country is maturing day by day, and the securities investment fund industry has also entered the stage of rapid development. The fund is a relatively new collective investment tool. At present, most of the research on the fund in China is focused on the performance evaluation of the fund, but the research from the perspective of the fund management company is still less. In fact, the fund management company is the direct controller of the fund, which determines the investment decision of the fund. There is no doubt that the importance to the fund is that the investment and operation ability of the fund management company is an important factor in determining the performance of the fund under management. Therefore, it is very necessary to construct a performance evaluation system suitable for fund management companies in China. Therefore, this paper chooses to study from the perspective of fund management companies, to construct performance rating system of fund management companies and to carry out empirical application. The establishment of a scientific and comprehensive evaluation index system for the performance of fund management companies has important guiding significance for investors to select funds, investors can make reasonable choices among different fund management companies and then select funds. In addition, it provides a reference for fund management companies to understand their own advantages and disadvantages, thus playing a positive role in the long-term development of the company. Can make relevant policy accordingly, promote our country fund market to develop healthily. In order to compare the performance level of fund management companies of different scales, 51 fund management companies are selected as the research objects in this paper, based on the relevant research on performance evaluation of fund management companies at home and abroad. Based on the relevant data of five years from 2008 to 2012, this paper constructs the performance evaluation system of fund management companies in China, and makes theoretical and empirical tests on the index system to verify the scientific and comprehensive nature of the evaluation system. The theory of balanced scorecard is used to verify the performance evaluation system of fund management companies, and the rationality of the performance evaluation system is considered. Also considered the strategy of the performance evaluation system. Through the factor analysis of the performance evaluation system of fund management companies in China, based on the results of the empirical research, combined with the relevant financial theory, According to the current situation of fund management companies in China, this paper makes a reasonable explanation and puts forward its own suggestions.
【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】：F272.5;F832.39

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