The Study On The Institution Of Chinese Securities Investment Fund System

The 80's of 20th century, the securities investment fund system was introduced to China and has a rapid development, which has become an important component of Chinese financial market. This has played important active role to broaden investment channels for small and medium investors, optimize the financial structure, promote stock market stability and healthy development and improve the financial and social security system. However, there are many negative factors such as ineffective supervision, transportation benefits, functionality and so on in the developm77ent of Chinese securities investment funds. The root causes of these positive and negative factors come from of the nonlinear system of Chinese Securities Investment Fund. Through the literature combing, we found research in this area is blank, so the study of the nonlinear system of Chinese Securities Investment Fund has an important practical significance and theoretical value.The article uses the method of mathematical analysis, system analysis, empirical analysis and comparative analysis. Based on the dynamics model of Chinese Securities Investment Fund market system as the breakthrough point, the Chinese Securities Investment Fund market is complex non-linear dynamic systems from the perspective of both qualitative and quantitative analysis. Studying the nature of Securities Investment Fund, as well as Securities Investment Fund needed a system environment and institutional arrangement as a collection of investment contract system, which also study from the perspective of policy design and follow the Chinese Securities Investment Fund market, the structure of the system, changes in the institutional environment and efficiency in conjunction with the main line of the Securities Investment Fund of the international comparative analysis. For this reason, the article analyzes the institutional environment, macro-and micro-management systems of Chinese Securities Investment Fund's dynamic system, analyzes the evolution mechanism and its defects of the Chinese Securities Investment Fund market's non-linear system, revealing the internal logic in Chinese system. Finally, we will give the system innovation of Chinese Securities Investment Fund a number of proposals and theoretical basis.The article has many innovation and exploration, as follows: we use and theory related to the new institutional economics, which established the general theory framework of Chinese Securities Investment Fund and its development the first time. The theory of non-linear dynamics discovery detection of the true financial markets and the evolution of the operating mechanism more accurately opposed to the traditional linear theory of financial built on the efficient market hypothesis and the assumption that rational people under the premise; we put forward a non-linear dynamic model of Chinese Securities Investment Fund market, and test non-linear relationship of Chinese Securities Investment Fund market using of fractal test, R / S test, test the correlation dimension, the phase-space reconstruction and Lyapunov index detection methods; We construct the institutional change model of securities investment fund system and carry out an empirical analysis of the Chinese Securities Investment Fund; we put forward that the Chinese Securities Investment Fund market is a non-linear system, and its essence is a collective investment trust system the first time; we will give the system construction of Chinese Securities Investment Fund a number of proposals.