我国基金业绩评价方法研究

【作者】 徐宇翔；

【导师】 张根明；

【作者基本信息】 中南大学 ， 技术经济及管理， 2004， 硕士

【摘要】 随着中国资本市场的进一步完善和发展，证券投资基金所占的比重已越来越大。如何评估基金的业绩已成为市场关注的焦点。本文尝试对我国证券投资基金3年来的运作业绩做一总体评估。 本文以我国上市时间较长的10只证券投资基金为研究对象，结合中国证券市场的实际，应用国外基金业绩评价中普遍采用的经典模型，对我国证券投资基金的业绩进行实证研究。客观地考察了基金的风险水平和收益水平、风险调整的收益水平、时机选择能力、股票选择能力以及基金业绩的持续性。 最后在以上实证分析的基础上，综合考察各指标和模型所反映的信息，选择层次分析法构建了一个全面反映基金业绩各层面信息的综合评价指标，提出了基金业绩综合评价模型，获得其表达式。并运用该模型进行了实证研究。更多还原

【Abstract】 Along with the perfection and development, the proportion of investment funds is larger and larger. How to appraise the performance of funds has become the focus of market. So this paper tempts to summarize and evaluate the performance of funds for more than three years.This text regarding ten stock investment funds in our country as research object, joins together the Chinese stock market fact, applies the widespread and adoptive classic model of the abroad funds to demonstrate our investment funds, which investigated the risk level of the fund objectively with the income level, opportune moment that income level, risk adjust choice ability, stock choice ability and fund accomplishments persistence.Finally on the analytic foundation in above substantial evidence, synthesize to investigate each index sign with the model an information for reflecting, the choice level of structure analysis method setup a reflects completely fund each level of accomplishment information synthesizes to evaluate the index sign, acquiring its the type of expression, combining proceeding substantial evidence research.更多还原