声誉效应对基金经理激励的影响分析
声誉效应对基金经理激励的影响分析
摘要：基金经理是证券投资基金运作的核心人物，在很大程度上决定着基金业绩。当前中国证券投资基金业“羊群效应”、“基金黑幕”“基金经理频繁跳槽”等事件频频发生，而制衡与监督机制弱化。为了有效保护投资者利益，激励机制凸显重要价值。在基金经理激励的各种因素中，作为物质激励的股权、基金管理费等起到基本的保障作用，而只有作为精神激励的声誉激励才能进一步激发基金经理的潜能。本文主要针对声誉激励对基金经理的影响进行研究。到目前为止，专门研究基金经理声誉效应的资料很少，而作为激励机制中的重要手段，声誉激励机制越来越受重视。因此，本文在总结前人的成果基础上，从声誉激励的现状和效应来分析其不足和局限性，建立完善的声誉激励机制。
关键词：声誉激励；基金经理；分析
Reputation effects on the analysis of the impact of the fund managers
Abstract: Fund manager is the key person in the operation of an investment fund，who has a great impact on fund performance. Recently, “herd behavior”、 “black screen” and “Fund managers frequently switch” take place frequently in the fund industy in China that indicates the loose systems of balance constrain and supervision. Therefore, it is of vital importance to apply incentive mechanism to protect the interest of stakeholds and avoid “moral risk”among portfolio managers. Incentive fund managers in the various factors, as a material incentive stake、fund management fees and so on play a fundamental role in safeguarding, Only the reputation as a spiritual incentive to encourage further stimulate the potential of the fund managers. This article mainly aims at the prestige to drive that conducts the research to the fund manager's influence. So far, specialized research reputation of the fund managers are very few, But as incentive mechanism in important means that the prestige mechanism receives more and more takes seriously. Therefore, This paper summarized the results on the basis of their predecessors , the present situation which and the effect drove from the prestige analyze its insufficiency and the limitation which make the incentive mechanism reputation establish and improved.
Key words:incentive reputation ;fund manager; analysis
*若需了解更多与协助请咨询↓→[电脑QQ][手机QQ]【数据协助】
