| The main contents of this paper,which is based on the perspective of agent,analyse the operation efficiency loss of the housing accumulation fund,and proposed solutions of the Principal-agent relationship.It contains the three links of principal-agent relationship in the whole process of the entire operation,which is between the depositors and housing management center, supervising agencies and the government, housing management center and the trustee banks. The main purposes of the study are finding the moral hazard and not fully factor in incentive mechanism, mining which impede the functions of the system to play its due principal-agent problem, and making recommendations so as to improve the operational efficiency of fund by the agency analysis of the relationship and location of fund management center, and fully taking into account the protection of the provident fund system, mutual assistance, fairness, and other properties. This paper used data from 2005 to 2008 and graphical representation of the quantitative analysis to see with half an eye, also used models of microeconomics in the chain of principal-agent. Finally, the study of advanced foreign operating system is proposed on the basis of long-term development of the program fund.Firstly, this paper uses literature study, enquiries about the housing accumulation fund system and status of the history, operation and management, and the use of imputation and other aspects of literature and information; Secondly, In the study the efficiency of the housing accumulation fund system,the paper use quantitative analysis about the amount of the housing provident fund deposit, loans, capital utilization, data rate personal loans for quantitative analysis by using the chain, up and graphically in order to further precisely analysis of the housing provident fund collection, operation and using; Again, this thesis adapt qualitative analysis propose solutions through the process of thinking of various materials, through qualitative analysis of the housing provident fund system subject of the Principal Agent location, interest and motivation for rational analysis; Finally, in this paper,it applied experience summarization, that agency in improving the housing fund in the efficiency of the chain, the paper summarizes the fund to promote domestic and foreign advanced management and operations experience to summarize and analyze the special conditions in accordance with short-term domestic Reference improvement and long-term reform.In this thesis, the final conclusions of the study is efficient fund operation system, need to correct positioning of the housing provident fund management center functions, making it right, responsibilities and interests balance each other, while establishing appropriate reward and punishment mechanism; Secondly, it savers and fund management to establish and improve inter-agency center mechanism by strengthening the power of information openness and depositors, Thirdly, improve the government oversight agencies and the agency chain. Finally, establish and improve the management center and the trustee banks of the reward incentive mechanism by the introduction of market mechanisms to enhance joint fiduciary line agent incentive mechanisms and a clear and increasing information disclosure and other provisions. |
