Study On The Optimal Cash Holding Amount Of Housing Provident Fund

China’s housing provident fund system since its establishment in1991，This system supports the reform of housing system in the implementation ofthe more than20years,not only Improved the housing conditions ofworkers,also accumulated a lot of stock funds,At the end of2011,the nationalhousingprovident fund hasreached2.1Trillions.According to the"Regulations on the management of housing provident fund",The housingprovident fund income operated by management center,After deducting allreasonable costs and risk reserve,It Should all be turned over to the Treasury,for low rent housing construction.Thus, the provident fund managementcenter should be ensure to raise capital gains,so that It can provide morefunds for the local construction of low rent housing and it has contributed tothe housing security.The paper combined with the related theory of the provident fund, usedthe optimal cash holdings of investment decision analysis,and the tam ofprovident fund to invest which it can maximize its social function, to speedup the development of housing security system.The first chapter is introduction.Mainly starting from the researchbackground, the article discusses the significance of the topic, based onresearch at home and abroad, discusses the idea and method of the researchcontent and research.The second chapter is holding model of optimal cash.In this chapter,the basic theory about four kinds of models and their advantages anddisadvantages, and making a comparison.The third chapter is the analysis of the present situation of themanagement of housing provident fund. Mainly talked about the basicconcepts and then describes the basic situation of the provident fundmanagement, provident fund management and investment at present of Hcity. The fourth chapter is the analysis of the case.This paper will take theH city provident fund as an example, according to the characteristics of thefunds to chose the stochastic model to research.The fifth chapter is to promote the measures of sustainabledevelopment of H city housing provident fund management. In this chapter,according to the actual situation of H city, put forward the sustainabledevelopment measures.to fund sustainable management.Finally draws the conclusion of this paper. Through the study of H cityhousing provident fund data, using the stochastic model of modified Bparameter value, for the provident fund center optimal cash holdings anddeposits. A suitable date cash holdings and deposits, so that it can reach tothe housing accumulation fund center the capital stock of the most efficientuse of funds, to achieve maximum benefit, minimize idle funds.