Research On Information Disclosure System And Protection Of Private Equity Fund Investors

China's private fund industry has mushroomed over the past decade,which has become an important financing method of enterprises.The industry has injected new vitality into the development of multi-level capital market system in china.With the domestic capital market increasingly active,large amounts of money poured into private funds.Private funds are under booming developments.But on the other hand,the problems of private funds managers infringing investor's benefit become increasingly prominent.As we know,investor protection is the cornerstone for the healthy development of the securities market.And the advanced disclosure regime is the foundation for the development of the capital market.Private funds also need to perfect the effective information announcing system.Therefore,it is significant issue to study the influence and effect of information disclosure system on investor interest protection.This article from the current situation,pointed out the existing problems in private fund information disclosure systems and made a thorough investigation on the relationship between the system and protecting the interests of investors who invest in private investment funds.Firstly,it proved that investors emphasis on information disclosure through empirical test.Secondly,it used game theory to study the interaction of the information disclosure system and the investor protection,and analyzed the two deferent path with characteristics.Thirdly,it used the cost-benefit theory,analyzed the cost structure and income structure of the information disclosure system to the private fund managers.At last,based on the above problems,suggestions of policies are put forward.It will be valuable to benefit for normalizing information disclosure of private fund and the protection of investor benefits.