私募基金治理模式研究

发布时间：2018-04-23 09:55

本文选题：私募基金 + 治理模式　；参考：《北京交通大学》2012年硕士论文

【摘要】：随着我国资本市场不断发展壮大,投资者的群体和种类也发生了深刻的变化。证券投资基金、保险公司、社保基金、合格的境外机构投资者在中国资本市场上扮演着越来越重要的角色。而与此同时,另一种专业机构投资者——我国的私募基金也得到了一定程度的发展,但是由于我国私募基金的发展起步较晚,私募基金的组织形式和治理结构都在的探索和实践中,再加上外部环境上法律法规不健全,社会信用体系的不完善等诸多因素导致我国私募基金还存在诸多问题,极大的限制了私募基金的发展。本论文的研究基本思路是从私募基金的概念出发,主要探讨了私募基金三种主要类型：信托型私募基金、公司型私募基金以及合伙型私募基金的概况,分别从组织形式、治理结构、治理机制和治理环境四个方面分析了他们各自的治理模式特点。然后援引国际上私募基金发展最为成熟的英国和美国的成功经验,可以发现美国和英国的私募基金在组织模式、监管机制和激励机制等方面值得我们学习与借鉴。通过发现我国私募基金治理模式现存的问题和产生的原因,运用委托代理理论和不完全契约理论为指导来提出对我国私募基金治理模式未来发展的构建思路和对策建议。
[Abstract]:With the development of China's capital market, the groups and types of investors have also undergone profound changes. Securities investment funds, insurance companies, social security funds and qualified foreign institutional investors are playing an increasingly important role in China's capital markets. At the same time, another kind of professional institutional investor, private equity fund in China, has also been developed to a certain extent, but the development of private equity fund in our country started relatively late. The organizational form and governance structure of the private equity fund are both in the exploration and practice. In addition, the external environment is not perfect, the social credit system is not perfect and so on, so there are still many problems in the private equity fund in our country. The development of private equity funds is greatly limited. The basic idea of this thesis is to discuss the three main types of private equity fund: trust private equity fund, corporate private equity fund and partnership private equity fund, respectively from the organizational form, starting from the concept of private equity fund, this paper mainly discusses the three main types of private equity fund: trust private equity fund, corporate private equity fund and partnership private equity fund. Governance structure, governance mechanism and governance environment four aspects of their respective governance model characteristics. Then the successful experience of the most mature United Kingdom and the United States in the international private equity fund development can be found that the United States and the United Kingdom private equity funds in the organizational model, regulatory mechanisms and incentive mechanisms are worthy of our study and reference. Through finding out the existing problems and the causes of the governance mode of private equity fund in China, this paper uses the principal-agent theory and incomplete contract theory as the guidance to put forward the ideas and countermeasures for the future development of the governance mode of private equity fund in China.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51

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