The Innovative Research Of Asset Management Products Backed By Issuance Funds About The Development Of Private Enterprises

Insurance plays an irreplaceable role in ensuring the stability of financial markets and supporting high-quality economic development.However,insurance funds still have some problems in supporting private enterprises,such as narrow support path,small strength,single way and so on.Based on this background,this paper studies the innovation of asset management products that insurance funds support the development of private enterprises.Based on the theory of price mechanism and following the pricing logic of insurance asset management product funds,this paper establishes the supply and demand model of insurance asset management product funds supply and private enterprise financing demand,analyzes the contradiction between insurance asset management product funds supply and private enterprise demand,and puts forward an innovative and optimized path to solve the contradiction between supply and demand.At the same time,this paper analyzes the typical asset management products that insurance funds support the development of private enterprises in China,and puts forward the problems faced by the innovation of insurance asset management products.Further,establish the empirical analysis model of insurance asset management product innovation supporting the development of private enterprises,and analyze the supporting role of insurance asset management product innovation on the development of private enterprises through the methods of overall regression and piecewise regression.Finally,it puts forward corresponding policy suggestions from the perspectives of insurance companies,private enterprises and external environment.Research findings: 1.Due to the capital characteristics of insurance asset management products and the operating characteristics of private enterprises,the supply and demand sides cannot complete the settlement,and there is a mismatch between the capital allocation requirements of insurance asset management products and the financing needs of private enterprises,which is difficult to connect effectively.The mismatch problem between the two should be solved by means of external credit proximity,internal credit enhancement and the use of financial derivatives,so as to realize the fund of insurance asset management products to support the development of private enterprises;2.The innovation of insurance asset management products faces problems such as insufficient product innovation ability of insurance asset management companies,non-standard finance of private enterprises,external policy constraints and so on;3.The empirical results show that with the joint efforts of multiple parties,the significant coefficient in the regression results of insurance fund utilization from 2013 to 2020 is higher than that from 2004 to 2012.It shows that with the innovation of insurance asset management products,the effect of insurance funds supporting private enterprises has improved significantly,and the overlapping area between the fund supply of insurance asset management products and the fund demand of private enterprises has gradually expanded.However,it is worth noting that the number of significant variables is still small,and there are still some mismatches and deficiencies in insurance asset management products in supporting the development of private enterprises.Based on this,this paper proposes: 1.Insurance companies should strengthen the construction of innovation ability of asset management products from three aspects:talent,product system and risk management;2.Private enterprises should strengthen their own construction from three aspects: management system,financial system and credit system;3.We should optimize the external environment for the innovation of insurance asset management products by continuously deepening the reform of release,management and service,enriching the credit enhancement measures of asset management products,and improving supporting policies.