The Research Of Supervising Pattern In The Land Reserve Investment Trust

Encouraging systems should be adopted in the land reserve investment trust supervising in China to the subjects such as funds trust and funds manager,etc.To build the encouraging system of all supervising objects,the supervising of the operating process of the land reserve investment trust should be concerned.In view of the problems existing in the land reserve investment trust supervising in China,the present thesis analyzes the funds trust and funds manager based on game theory and principal-agent theory.The thesis analyzes the necessity to build the land reserve investment trust supervising in China,and proposes relative encouraging systems (reputation system and reward system).The thesis also gives the concrete supervising strategies under taken by the funds management company according to the operating process of the land reserve investment trust in China.A deep research is done on the economic theory level.The research process and the main research achievements of this study are as follows:(1)The thesis makes a comparative study between the funds trusts as well as funds manager supervising when encouraging systems are not introduced into the land reserve investment trust and that when encouraging systems are introduced.The relationship between the building of the funds supervisor(trust)encouraging system and its effects upon the funds supervising is revealed,which theoretically proves the necessity to build encouraging systems in the land reserve investment trust in China.(2)Through the theoretical analysis and comparative study,the author of this thesis believes that introducing the trust encouraging systems can improve the land reserve investment trust supervising effects and builds the encouraging systems for the land reserve investment trust in China.(3)In order to furthermore improve the land reserve investment trust supervising effects,the author builds relative reputation system and reward system for funds manager,and analyzes the feasibility and necessity to introduce the independent director system and the problems which need to be paid attention to.(4)In the operational process of the land reserve investment trust,when the funds management company intends to offer the funds,they evaluates the plot feasibility,and assigns professional supervisor to supervise the projects on order to ensure that the trust funds are delivered to the correct plot and ensure that the stroking,shooting,and hanging sell are open,fair and just.The trust bank should regularly provide financial statements to the funds management companies to ensure the supervision upon the progress of the projects and the repayments,and also post-evaluate the projects.