國際金融衍生品交易機構投資者內部治理機制研究.pdf

1、湘潭大學碩士學位論文國際金融衍生品交易機構投資者內部治理機制研究姓名：熊慧申請學位級別：碩士專業(yè)：世界經濟指導教師：譚燕芝20080518VAbstractInstitutionalinvestsarethemaindealersininternationalfinancialderivativestransactions.Theinnergovernancewithintheinstitutionalinvestsisoneofthe

2、governancemechanisms.Althoughexpostmaladjustmentofinstitutionalinvests’governanceopptunismtendencyofinstitutionalinvestsasaindividualhasthefailureofthirdpartygovernancebecauseofknowledgedispersionthepotentialhighcostofth

3、irdpartygovernanceleadsthefactthatinstitutionalinvestsgovernancebecomesquiteessential.Institutionalinvestsgovernanceconsistsofinterigovernanceexterigovernanceinterigovernanceasthemain.Interigovernanceofinstitutionalinves

4、tsgovernancecontainscompulsystockholdingrewardscontractconstraintofthemanagerincentivefeesoptionscontractretiringfundplaninnermanagermarketbuildingindependentdirectinstitutioninstitutionsasstockholdersofotherinstitutions

5、reasonablearrangementofpropertyrightsetc.intericontrolrewardincentivereasonablepropertyrightsarrangementarethekeyfactsofinterigovernance.highincentiveinfmationadvantagemakestheinterigovernanceastheprialternativethemanage

6、mentresourcesganizationalknowledgeexistedintheinstitutionalinvertsmakesitasapriity.Theresearchoninstitutionalinvestsgovernancefocusoninterestscoherencebetweenindividualmanagerstheinstitutionalinveststhecultivationofthere

7、sourcesknowledgecompetenceoftheinstitutionalinvests.Toavoidmalhazardthroughintericontrolfitisinsufficientnotwellimplemented.weassumethatindividualmanagersarelossaverse.Wemaketheinterestscoherencethroughreasonablemanageme

8、ntfeedesignincentivefeesproperproptionofstockshareofmanagersasaindividualinvestavoidtakingexcessiverisksatthesametime.Butultimatelythedevelopmentofinstitutionalinvestsdependsonthecultivationofmanagementresourcesganizatio