摘要
养老保险基金进入资本市场进行投资必然存在一个复杂的组织结构,由于信息不对称,使得不同层次的委托—代理关系可能产生过度风险的机会主义行为,如道德风险等问题。本文通过设计一个最优的规避风险和激励机制下的委托—代理模型,诱使代理人选择委托人所希望的行动,实现养老保险基金在积累不断扩大的前提下的保值、增值。
There is a complicated organization with the pension fund entering the capital market to invest, it makes different levels client- agent to bring over-risk opportunity conduct, for example, moral risk problem. This paper leads agent to choose the action client expects to achieve pension fund value and increment through designing the client-agent model including both evading risk and inspiring mechanism.
出处
《重庆大学学报（社会科学版）》
2006年第3期51-55,共5页
Journal of Chongqing University(Social Science Edition)
