Effect Of Transfer Of State-owned Shares Of The Social Security Fund Investment Behavior

At present, the social security fund gap is large, transfer of state-owned shares is the reasonable channel fill the gap. The amount of social security funds will directly affect the social security fund in the capital market investment layout, and demonstrated its unique investment behavior and way. Along with the social security fund scale expands increasingly, its shares are also growing, impact on the stock market grows gradually, research on the investment behavior becomes more and more important. The focus of this paper lies in the effect of transfer of state-owned shares of the social security fund investment behavior, trying to avoid negative effects of transfer of state-owned shares of the fund investment behavior, the social security fund, capital market and social security system presents a win-win situation.Firstly, the paper introduces the background and significance of the research, illustrates the research framework and research methods, technical route; secondly, the evolution of the system from the beginning of the split share structure reform, trend analysis of the reduction of state-owned shares, transfer of state-owned shares and the basic situation of the historical reasons and the path analysis of evolvement of the system, the transfer of state-owned shares of the investment of the social security fund the impact mechanism and performance for the platform. Next, an empirical analysis of the transfer of state-owned shares in the institution of social security fund, herd behavior, make necessary analysis compared with other institutional investors and retail, tries to depict the effect of transfer of shares to the social security fund investment behavior of the panorama. Finally, combined with the current system factors and market environment, the conclusion is given on the transfer of state-owned shares of security funds investment behavior’s impact on society, and put forward the related policy suggestion.