我国社保基金重仓股的持股特征及其收益风险的评价

The Stockholding Characteristics and its Risk Evaluation of the Restock of China’s Social Security Fund

社保基金与我国社会保障体系息息相关,社保基金的保值增值对我国社会保障体系的可持续发展意义重大。考察我国社保基金的持股偏好、收益和风险情况并据此对社保基金的投资方式做出调整,有助于改善社保基金未来的收益情况,提升社保基金的抗风险能力。实证结果表明,我国社保基金重仓股投资组合偏好持有医药生物、银行、食品饮料等行业的股票,但持股并未对公司的社会责任表现有更强烈的偏好;社保基金长期持有的重仓股投资组合收益表现并不理想,但对风险的控制能力较强。

The social security fund is closely related to the social security system of our country,and the value of the social security fund is of great significance to the sustainable development of the social security system of our country.Examining the stock holding preference,income and risk situation of social security fund in our country and adjusting the investment mode of social security fund accordingly will help to improve the future income situation of social security fund and enhance the ability of social security fund to resist risks.The empirical results show that our country’s social security fund heavy stock portfolio preference holds the pharmaceutical biology,the bank,the food beverage and so on profession stock,but the shareholding does not have the stronger preference to the company’s social responsibility performance;the social security fund long-term heavy stock portfolio income performance is not ideal,but has the strong control ability to the risk.