共同基金治理结构模式的国际比较及其启示

The International Comparisons of Common Fund's Administration Structure Model and the Revelation

共同基金作为资本市场深化的金融创新产物,既可以为上市公司带来经济价值,又可以起到优化资本市场结构的作用;而良好的基金治理结构能够减少各当事人之间的交易成本,优化基金的业绩。分析和比较美国、法国、日本、德国、英国等发达国家共同基金治理结构模式的机制和特点,对改进我国共同基金治理结构有启示作用,即应该采取循序渐进的发展战略。

As the capital market deepening financial new outcome,common fund not only could bring economic value for the listing company,but also could make capital market's structure fine.Good fund management structure could reduce the trade cost among litigants,and make fund's outstanding fine.It has revelation to China's common fund's administration structure that analyses and compare with some developed countries' system and characters of common fund's administration structure as American,France,Japan,German,England.And the revelation is to carry out the developmental strategy which follow in order and advance step by step.