Research On The Social Security Fund Investment

In recent years, cases of the social security fund ongoing and intensified, causing people to the attention of social security fund reached high level. In fact, with the aging of the population and the continuing development of the social security fund as early as the developed countries have become one of the issues of concern.Improving the social security system is to build a socialist market economy with Chinese characteristics an important component of the system, therefore, the social security fund has become our people the public's concerns. This has caused the majority of scholars on the reform issue, in particular social security funds to enter the capital market investment operations issues. Business investment in scientific and rational manner to achieve the original intention of establishing social security funds, rather than scientific management may result in social unrest. This paper mainly on the social security fund's investment operations research, feasibility with a view to draw the conclusions. The main content of this paper is divided into five chapters:Chapter I introduces the main issues on the proposed background, the social security funds at home and abroad to study the status quo, and this paper's basic research framework.Chapter II does a brief introduction of the Social Security Fund, including social security and social security fund concept and composition, and China's social security fund investment operations and the basic situation of the existence of some of the main issues were simple conclusion. For example: social security fund management and investment operation of the pan - The main result of the failure of supervision, the single investment channels preserve and increase the value of the resulting difficulties. Chapter III uses investment income - Risk theory and the capital asset pricing model, focusing on the above card index for the representative of the Chinese stock market, bonds and bank deposit receipts and a quantitative risk Empirical Analysis. Based on the results of the investment portfolio analysis: although China's stock market more risky, but rational social security funds gradually increase the proportion of the investment, not only can improve the yield, but risk can still control and acceptable.Commissioned by the use of Chapter IV - Acting on the theory of the existence of the social security fund of adverse selection and moral hazard problems propose a solution.Chapter V is concluding exposition, according to the exposition in this paper put forward some feasible policy recommendations, such as: improving the legal environment, and expand the scale of capital investment fund operations and the strengthening of the regulatory system.