Research On Occupational Pension Governance And Risk Control

With development of old-age problem and establishment of national multi-level old-age security system, occupational pension makes an important role as one of the supplementary old-age insurance. Occupational pension is a plan that the employers establish for employees or build by both of them. So the research on occupational pension governance and risk-control becomes a cutting-edge and hot issue, especially in the stage of financial crisis, all the countries in the world worry about how to resolve the problem of old-age security governance and risk-control, including occupational pension. The spread of financial crisis conducting from financial sector to capital market, then further affects the real economy, because of occupational pension has natural links with financial field, capital market and real economy, it must be a considerable impact in the occupational pension development. As this reason, occupational pension structure, safely investment and effectual risk-control have become one of important conditions related to economic development and social stability.Comprehensive study on the occupational pension governance and risk-control in China. As the developed and developing countries develop in different stages and levels of occupational pension, there are some differences in governance structure and risk-control selection. Occupational pension governance and risk-control embedded in a specific environment, it exceeds the general technological level and mechanism constrains. Different cultural backgrounds have different system characteristics in occupational pension governance structure and safety running. How to reveal culture, customs, tradition and other factors in the appearance of complex occupational pension system? How to reveal the game between participants? How to reveal the non-formal institution that affects the forms and path-dependent features of the formal institution inherently? They are prerequisites and key constraints of how to manage occupational pension effectively in non-western countries, and also target of my research itself. So Chinese occupational pension governance and risk-control have their own characteristics. Although institution can learn from abroad in principles, it should also avoid copying foreign models and avoid dependence completely in order to safeguard the country's financial security and stability. Chinese occupational pension institution builds in 2004. From that time, how to establish occupational pension governance and risk-control has become a problem facing to the practical and academic fields. Currently, domestic and foreign academic fields of pension fund governance and risk-control mainly concentrate on the general mechanisms and the technical level, lacking of original research from the institutional environment, social and cultural environment, institutional restraints and the path dependence, especially based on the specific economic in China. So we must explore the occupational pension governance and risk-control methods, make sure it can run safely, with Chinese social and economic characteristics. Thus, this study will use international comparative analytic method to compare with the typical developed and developing countries in the field of occupational pension governance and risk-control from the economic and social development, cultural and so onThis paper has 7 chapters. We can divide it into three parts. The first part is the theory of occupational pension governance and risk control, including chapter 1, chapter 2 and chapter 3. The second part is the interactive relationship between governance and risk control. The third part is the situation of occupational pension governance and risk control in China, and then gives some suggestions for the policy.The chapter one is the theoretical principle of occupational pension governance and risk control. The occupational pension governance theory is from traditional governance theory to corporate governance and then to the pension governance. OECD pension fund guideline gives the framework for the pension fund governance. The risk control theory contains risk management and risk supervision.The chapter two describes the general structure of occupational pension. It contains internal governance and external governance. The internal governance has the mechanism of risk-based internal control, and the external governance contains supervision of government, mediator and industry self-regulatory organization. From the international comparison, we analyze the governance structure in developed and developing country and finally explain why there has homoplasy and otherness.The chapter three is the analysis of occupational pension risk control.this chapter divides the risk into two types, one is directly related to governance and another is indirectly related to governance. The risk directly related to governance is agency risk. The risks indirectly related to governance are investment risk and operation risk. All the risks have their own reason. In the last part, we provide the methods for risk control.The chapter four is the interaction between occupational pension governance and risk control. The interaction has a important significant for economic development, social stability, social security and capital market. Then we analyze the transmission mechanism of governance and risk control, including internal control, disclosure and report, the selection and cultivating mechanism for governance body. The process of interaction is from governance to risk control and then to governance.The chapter five is the situation of occupational pension governance and risk control in China. It analyzes and evaluates for the situation.The chapter six is analysis of occupational pension governance and risk control in China. First, it analyzes the relationship between government and market in occupational pension governance and risk control. Second, it talks about the supporting mechanism for governance and risk control. Third, using behavioral finance, we analyze the behavior of stakeholder in the occupational pension governance and risk control.The chapter seven is the policy research for enterprise governance and risk control. It gives the policy in the outside environment and supporting mechanism. Outside environment contains capital market, agency market and intermediary market. Supporting mechanism contains incentive and allocation mechanism, legislation, cultural identity and trust institution. At last, we give the policy to risk control from risk control mechanism, risk supervision mechanism, risk dispersal mechanism and risk compensation mechanism.