Study On Investing And Financing Model And Operational Mechanism Of Endowment Insurance Fund In China

The basic orientation of the thesis is that it focuses on the financing model of Mixed Funded System, emphasizes on the investing model constitution, bases on the operating mechanism, aims at maintaining and adding fund value, and through the theory and demonstration analysis, explores the investing and financing model and the operating mechanism of the endowment insurance fund in China, in the condition of accelerated population aging of our country.The thesis reveals the causes of that the endowment insurance fund value can not be maintained and added is that the fund operating model and management mechanism are improper, through the demonstration analysis on nowadays why the endowment insurance fund value can not be maintained and added in China. Then it constitutes the investing and financing model of the endowment insurance fund in the frame of fund financing, investing and operating management.In order to constitute the financing model of the endowment insurance fund, the thesis reveals that the disordered relation between the endowment insurance system in China and the investing and financing model of the endowment insurance fund is the result of restriction of both fund financing model and invisible debts hard to solve. The research indicates that the unsmooth of the fund financing model will lead the accumulative deposit of individual accounts not be enough to pay, which will lead to Empty Individual Accounts operating, and consequently restrict the financing model to transform essentially to social pooling and individual account combination mode. So the thesis constitutes the mixed system model based on dynamic analysis of Time Consistency theory and the theoretical model and project design to solve the invisible debts Pooling Mechanism.In order to constitute the investing model of the endowment insurance fund, the thesis reveals that the key point of the disordered relation between the endowment insurance system in China and the investing and financing model of the endowment insurance fund is the result of corporate restriction from fund investing methods, investing channel and investing idea. The research indicates that nowadays in China, the unsmooth of the investing channel and the simplification of investing methods lead to that the endowment insurance fund investor of risk aversion becomes the investor of risk preference in fact. So the thesis constitutes the model of investment combination...