摘要
本文回顾了西方养老基金投资领域的研究文献。国际经验研究说明企业年金的投资组合和发起企业的经营活动现金收益率有密切关系。本文提出了一个考虑发起企业的经营活动现金回报率之后的年金组合理论模型,分析了当前我国三类企业年金的投资组合现实,提出了相应政策建议。
The paper reviews the western literature on pension fund investment. The empirical study indicates that the affinity exists between the cash flow return of company and its pension＇ s portfolio. The author advocates a pension portfolio model inspired by such an affinity. Then the paper analyses the present three investment patterns of China＇ s pensions. The author gives policy suggestions in conclusion.
出处
《商业经济与管理》
CSSCI
北大核心
2007年第1期46-51,共6页
Journal of Business Economics
基金
国家自然科学基金项目资助(70573067)
关键词
企业年金
投资组合
理论模型
经验研究
corporate pension fund
investment portfolio
theoretical model
empirical study
