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Research On The Operation And Risk Of Enterprise Annuity In China

Posted on:2017-10-12Degree:MasterType:Thesis
Country:ChinaCandidate:R D LiFull Text:PDF
GTID:2359330488990481Subject:Theoretical Economics Western Economics
Abstract/Summary:PDF Full Text Request
Enterprise annuity is the second pillar of China's social insurance system.Since the implementation of enterprise annuity,its management operations have gone through more than ten years.The operation effect and risk of enterprise annuity not only related to the improvement of employees' benefit,corporate cohesion and attractiveness,but also helped to promote the reform of the social insurance system.Firstly,this paper analyzes the impact of the monetary policy and fiscal policy on the enterprise annuity and judges the trend of this market.According to the number of enterprises,employees and funds participating in the enterprise annuity,this paper judges the market size.On the basis of the total return on equity and fixed income classes in single plan,collection plan,and other plans,this paper judges the income status of the enterprise annuity market.In the analysis of sub market,this paper studies the account management market from the perspective of the scale of analysis.It studies entrusted and managed market from the point of view of the amount of management analysis,studies investment management market from two aspects of the amount and rate of return.Secondly,this paper uses VaR model and selects top ten awkwardness of enterprise annuity to measure the risk of single stock and investment portfolio.Then it uses RAROC model to combine enterprise annuity's benefits and risk together and reflects the relationship between risk and return more directly.At last,it uses mean-variance model to analyses the proportion of enterprise annuity fund in different financial products.Finally,according to the above present situation analysis and empirical research,this paper gradually finds out the crux of the development of the enterprise annuity.Then,this paper puts forward the targeted policy recommendations,according to the different characteristics of the problems.The last part shows the conclusion and prospect of this paper.
Keywords/Search Tags:Enterprise annuity, Market operation, Investment risk
PDF Full Text Request
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