养老保险基金投资管理中的委托代理问题

<title>The Relationshop between Entrustment and Agency in Investment Administration of Endowment Insurance Fund

在市场经济条件下,养老保险基金的投资运作日趋重要。如何对其进行有效的管理,是摆在我们面前的一个亟待解决的问题。本文阐述了我国目前投资管理的现状和存在的问题,并结合不同管理模式的比较分析,指出从委托—代理框架入手,通过竞争或招标等公开方式建立起来的投资管理体系,会带来效率改进。并在此基础上提出了相关的政策建议。

<Abstrcat> The investment of endowment insurance fund becomes more and more important in the market ceonomy.Therefore,how to carry out its management effectively is a key problem, which has to be settled urgently.This paper expounds the current sitiuation and the existing problems of the investment administration in China.Then,with the comparison of different management models,it holds that the establishment of the investment administration through competition or public bidding,starting from the relationship between entrustment and agency could bring the improvement on efficiency.In the end it offers some relevant suggestions on policies.