Study On Organizational Form Of The Securites Investment Funds

In this article, we take the organizational forms of the security investment funds as the themeand use the related theories of jurisprudence and economics to reach the theoretical foundation,quality and locating, frame, defects and advantages, reconstruction of the organizational formsof the security investment funds by means of semantic analysis, comparative analysis,economic analysis, historical review and logical reasoning. Our aim is to deepen the reasoningcognition of the organizational forms of the security investment funds and to urge the betteringand innovating of their institution.The text is divided into four parts:Chapter I is about the theoretical definition of the organizational forms of the securityinvestment funds. Firstly, we discern the legal concept of the security investment funds andderive the organizational quality, definition and location. After that, we will introduce thehistorical evolution and backgrounds of the organizational forms of the security investmentfunds and compare the contractual security investment funds with the corporational securityinvestment funds and also analyze the economic value and theoretical foundation of them. Theaim of this chapter is to clear the basic theory problems of the security investment funds and tolay the foundation for the talking about all kinds of special organizational frames.Chapter II is about the legal analysis of the organizational forms of the contractual securityinvestment funds. Firstly, we propose our basic view point that the trust theory is the legalground to form the organizational frames of the contractual security investment funds. Then, werepresent theoretical and analyze comparatively the main body frame and its legal relationshipsof the contractual security investment funds and, especially, discuss the differences of themonism and the dualism about the relationships of trust and propose ourselves monism and itstheoretical foundation. At last, we analyze the funds contract which is the carrier of the legalrelationships of the contractual security investment funds. The aim of this chapter is to discernthe organizational relationships frame of the contractual security investment funds and todefinite the legal status and related relationships of the parts.Chapter III is about the legal analysis of the organizational forms of the corporationalsecurity investment funds. Firstly, we propose our basic view point that the principal-agenttheory under the concept of modern corporation governance is the legal ground to form theorganizational frames of the corporational security investment funds to distinguish from trusttheory. Then, we analyze the traits of the corporational security investment funds and,especially, demonstrate the inside agency relationships of the funds corporations and the outsideagency relationships between the manager and the consignor. The aim of this chapter is todiscern the special governance frame and the advantages of the corporational securityinvestment funds and to propose the theoretical foundation for its use in China.Chapter IV is about the reconstruction of the organizational forms of the security investmentfunds in China. To aim at the single organizational form of the Chinese security investmentfunds, firstly, we point out the institutional defects of the organizational forms of the contractualsecurity investment funds and propose how to better them. Secondly, we demonstrate thenecessity and feasibility to import the organizational forms of the contractual securityinvestment funds and found the organizational frame for them. Lastly, we introduce thedeveloping situation and foreground of the private offering funds in China and, aiming at itsnew challenge to the organizational forms of Chinese funds, propose to import the limitedpartnership investment funds. The aim of this chapter is to clear the thoughts for theinstitutional reconstruction of the organizational forms of Chinese security investment funds byanalyzing the advantages and disadvantages of all kinds of the organizational forms of thesecurity investment funds.