The Study On Insiders' Control In Security Investment Fund

The security investment fund reflects the typical principal—agent relationshipbetween fund investor and managers in essence as a kind of new-type monetary system and financial instrument. This kind of relation makes it have possibility and certainty that insiders' control in theory. In the course of actual operation of our country, the phenomenon and danger of insiders' control are very serious, only from the angle of fund management, combining with inside managing , outside managing , incentive mechanism, which could reduce this kind of harmfulness , solving the insiders' control problem will ensure the sound development of our investment fund. This paper proceeds from essence and inside structure of the security investment fund, use the knowledge of information economics and the principal—agent theory, combine a large number of realistic data and concrete case, to analyse the insiders' control in investment fund industry of our country. In regards to solve this problem, this paper also discuss deeply from two aspect: investment fund's pattern of development and corporate governance.The full text divides into five parts altogether:The first part of introduction has summarized the research background , meaning of this text, research approach, the centre , frame and innovation of the article.Second part Introduce the knowledge of the security investment fund, point out the security investment fund reflects a kind of principal — agent relationship in essence, so establishes the theoretical foundation that the security investment fund appear the phenomenon of insiders' control .Meanwhile, this part also introduced the kind of the fund and current situation of the development in our country, it is a understanding of summarizing to the security investment fund.The third part discuss deeply the insiders' control in the security investment fund , using Economics principal and realistic data , analyse the origin cause of formation , behavior of issue , endanger, draw the urgency of perfecting funds and managing.The fourth part discuss the insiders' control in the security investment fund in our country through a case -changsheng fund management company .The fifth part is in regards to solve the problem of insiders' control in the security investment fund from two aspect: investment fund's pattern of development and corporate governance.