【作者】 马振江；

【导师】 潘石；

【作者基本信息】 吉林大学 ， 制度经济学， 2010， 博士

【摘要】 伴随中国证券投资基金①的快速发展,有关侵害基金投资者利益的声音一直不绝于耳。尽管管理层在政策引导、法规制定和制度移植等方面采取了一系列制度安排和具体措施,极大地改善了中国证券投资基金的治理状况,但基金投资者利益保护问题、基金委托代理问题等仍然是中国证券投资基金治理的诟病。因此,完善中国证券投资基金治理,构建中国证券投资基金治理模式不仅是一个系统的理论课题,更且是一项庞大的实践工程。我们必须在透视中国基金发展历程的基础上,把脉基金治理制度缺陷中的症结所在,通过总结国外基金治理制度安排中的经验教训,借鉴世界基金治理理论研究中的成果文献,以新制度经济学相关理论为基础,并借鉴其他理论的研究方式,探寻构建中国基金治理模式的路径选择和制度安排。本文试图用制度经济学的视角阐明和诠释基金治理的内在机理,主张从基金的组织形式入手,构建包括组织形式、治理结构、治理机制和治理环境在内的、有效的中国证券投资基金治理模式,提出在现阶段实行契约型基金、公司型基金并行发展的路径选择,实施构建以“独立督察员委员会”为中心的契约型基金治理结构,建立以“基金董事会”为核心的公司型基金治理结构及完善基金治理机制和基金治理环境的制度安排。更多还原

【Abstract】 As the Chinese securities investment fund rapidly develops, the infringement of the fund investors’interests occurs from time to time. Although management layer implemented a series of institutional arrangements and measures in respect of policy guidance, institution formulation and transplantation to have greatly improved the governance situation of Chinese securities investment fund, the lack of protection for the fund investors’interests and the fund principal-agent are still big problems in the governance of Chinese securities investment fund.Therefore, improvement of the securities investment fund governance and forming the governance patterns of Chinese securities investment fund is not only a systematic theory subject, but also a bulky practical project. We need to make correct judgment on the causes of the deficiencies in fund governance systems based on the development history of Chinese fund. Furthermore, we should try to explore the route alternatives and institutional arrangements for Chinese fund governance pattern by drawing the experiences from the institutional arrangements in foreign fund governance, the achievements from the worldwide fund governance research, and other theoretical research models based on relevant theories in the new institutional economics.This paper attempts to clarify and interpret the internal mechanism of fund governance from the perspective of the institutional economics, and advocates building the structure of fund governance including organizational forms, governance structure, governance mechanism, and governance environment. It also aims to propose the route alternatives for the collateral development of the contractual fund and corporate fund, to build the structure of the contractual fund governance and corporate fund governance based on "Independent Oversight Committee" and“Board of Directors of Fund”respectively, and the institutional arrangement of fund governance environment.更多还原