中国社会保障基金投资管理研究
发布时间：2018-08-18 09:07
【摘要】：社会保障是一国政府为本国或合法居住在本国的外籍公民提供劳动保障、就业、生育以及未来养老等方面承担责任的体制机制,社会保障作为各个国家关注的民生焦点问题,能否良好运行关系到整个社会人民生活水平的高低,甚至是一个国家的稳定与否。自进入工业化社会以来,大机器生产的时代使得工人出现伤病的几率大大增加,与此同时工人成为无产者,年老时没有土地提供收益的情况下生活保障受到威胁。随着工人阶级的普遍觉醒,普遍要求国家提供年老、因公伤病的保障制度。为了维护社会生产的连续性、保证政治生活的安定有序,欧洲工业化国家先后建立了本国的社会保障体制。随着社会保险项目的增多、基金规模的扩大,简单的管理方式已经不能适应资金保值增值的需要,为此社会保障基金应运而生。基金管理承担保证资金安全、确保管理秩序高效、支取灵活便捷的重任,这其中社会保障基金投资管理的有效程度无疑成为社保基金保值增值的重要基础。世界各国在结合本国实际情况的同时,对社会保障基金投资运行管理进行了不断的探索,目前基本形成了几种较为稳定的投资管理模式。笔者以对我国社保基金在投资管理的维度具有借鉴意义为出发点,选取各国投资管理中的典型模型,依次对美国、瑞典、新加坡、智利四国的社会保障基金投资管理模式运用对比分析的方法进行逐一分析,其中智利是委托投资的典型代表,新加坡为集中统一投资管理的典型,美国和瑞典介于二者之间,再结合我国社会保障基金管理在投资方面出现的典型问题,提出笔者的针对性建议。本文以2001—2015年为时间窗口,运用数据分析的方法,主要依据社会保障基金理事会、证监会等官方机构披露的信息以及相关学者的著述,对我国社会保障基金在风险控制、内部稽查、外部监督、投资结构等内容进行详实阐述。得出我国社会保障基金管理在投资管理多元化方面还有待提高,委托投资管理见效显著,但是实业投资和海外投资的步伐还应加快;在投资监督、信息公开、查询便捷性等方面还有所欠缺。因此提高风险防控能力,并提高信息透明度,事前严格选择投资托管人、立体监管委托管理人的投资业绩和行为态度,将投资管理与提振经济相结合,加大海外投资和实业投资力度,在开发和完善新型投资工具方面提高指数化投资和实业投资的比例。
[Abstract]:Social security is an institutional mechanism that provides labor security, employment, childbearing and future old-age support for foreign citizens living in their own country or legally in their own country. Social security is the focus of the livelihood of all countries. Whether it can run well or not is related to the standard of living of the whole society and even the stability of a country. Since entering the industrial society, the age of large machine production has greatly increased the chance of injury and injury among workers, while workers become proletarians and their livelihood security is threatened when they have no land to provide income in old age. With the widespread awakening of the working class, the state is generally required to provide a system of protection for the elderly, the sick and the injured. In order to maintain the continuity of social production and ensure the stability and order of political life, European industrialized countries have established their own social security system. With the increase of social insurance projects and the expansion of fund size, simple management methods can not meet the need of maintaining and increasing the value of funds, so social security funds have emerged as the times require. Fund management undertakes the important task of ensuring the security of funds, ensuring the order of management, and obtaining flexibility and convenience, among which the effective degree of investment management of social security funds is undoubtedly the important basis for maintaining and increasing the value of social security funds. At the same time, the countries all over the world have carried on the exploration to the social security fund investment operation management, at the same time, has basically formed several relatively stable investment management models. The author chooses the typical models of the investment management of various countries in order to the United States, Sweden, Singapore, in order to use for reference to the dimension of investment management of social security fund of our country as the starting point. The investment management model of social security fund in Chile is analyzed one by means of comparative analysis. Chile is the typical representative of entrusted investment, Singapore is the typical model of centralized and unified investment management, and the United States and Sweden are between the two. Combined with the typical problems in the investment of social security fund management in China, the author puts forward some specific suggestions. This paper takes 2001-2015 as the time window, uses the method of data analysis, mainly according to the information disclosed by the Social Security Fund Board, the Securities Regulatory Commission and other official organizations, as well as the works of relevant scholars, to control the risk of social security funds in China. Internal audit, external supervision, investment structure and other content for detailed elaboration. It is concluded that China's social security fund management still needs to be improved in terms of diversification of investment management, and the entrusted investment management has achieved remarkable results, but the pace of industrial investment and overseas investment should be quickened. Query convenience and other aspects are still lacking. Therefore, to improve the ability of risk prevention and control, to improve the transparency of information, to strictly select investment custodians in advance, to supervise the investment performance and behavior attitude of entrusted managers in a three-dimensional manner, and to combine investment management with boosting the economy, We will increase overseas investment and industrial investment and increase the proportion of indexed investment and industrial investment in the development and improvement of new investment tools.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F842.61;F832.51
本文编号：2189014
[Abstract]:Social security is an institutional mechanism that provides labor security, employment, childbearing and future old-age support for foreign citizens living in their own country or legally in their own country. Social security is the focus of the livelihood of all countries. Whether it can run well or not is related to the standard of living of the whole society and even the stability of a country. Since entering the industrial society, the age of large machine production has greatly increased the chance of injury and injury among workers, while workers become proletarians and their livelihood security is threatened when they have no land to provide income in old age. With the widespread awakening of the working class, the state is generally required to provide a system of protection for the elderly, the sick and the injured. In order to maintain the continuity of social production and ensure the stability and order of political life, European industrialized countries have established their own social security system. With the increase of social insurance projects and the expansion of fund size, simple management methods can not meet the need of maintaining and increasing the value of funds, so social security funds have emerged as the times require. Fund management undertakes the important task of ensuring the security of funds, ensuring the order of management, and obtaining flexibility and convenience, among which the effective degree of investment management of social security funds is undoubtedly the important basis for maintaining and increasing the value of social security funds. At the same time, the countries all over the world have carried on the exploration to the social security fund investment operation management, at the same time, has basically formed several relatively stable investment management models. The author chooses the typical models of the investment management of various countries in order to the United States, Sweden, Singapore, in order to use for reference to the dimension of investment management of social security fund of our country as the starting point. The investment management model of social security fund in Chile is analyzed one by means of comparative analysis. Chile is the typical representative of entrusted investment, Singapore is the typical model of centralized and unified investment management, and the United States and Sweden are between the two. Combined with the typical problems in the investment of social security fund management in China, the author puts forward some specific suggestions. This paper takes 2001-2015 as the time window, uses the method of data analysis, mainly according to the information disclosed by the Social Security Fund Board, the Securities Regulatory Commission and other official organizations, as well as the works of relevant scholars, to control the risk of social security funds in China. Internal audit, external supervision, investment structure and other content for detailed elaboration. It is concluded that China's social security fund management still needs to be improved in terms of diversification of investment management, and the entrusted investment management has achieved remarkable results, but the pace of industrial investment and overseas investment should be quickened. Query convenience and other aspects are still lacking. Therefore, to improve the ability of risk prevention and control, to improve the transparency of information, to strictly select investment custodians in advance, to supervise the investment performance and behavior attitude of entrusted managers in a three-dimensional manner, and to combine investment management with boosting the economy, We will increase overseas investment and industrial investment and increase the proportion of indexed investment and industrial investment in the development and improvement of new investment tools.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F842.61;F832.51
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