| 我国基金公司内部封闭式基金对开放式基金的补贴研究 |
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| 引用本文： | 舒建平,王苏生,杨慧孜.我国基金公司内部封闭式基金对开放式基金的补贴研究[J].投资研究,2012(4):111-122. |
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| 作者姓名： | 舒建平 王苏生 杨慧孜 |
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| 作者单位： | 湘潭大学商学院;哈尔滨工业大学深圳研究生院;湘潭大学 |
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| 基金项目： | 中国博士后科学基金项目《我国股市的适应性效率及其演化研究》(20100480988) |
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| 摘 要： | 由于封闭式基金与开放式基金的差异,基金公司倾向于补贴开放式基金而侵害封闭式基金的利益。经验证据表明,我国基金公司确实存在封闭式基金对开放式基金的补贴行为。论文进而构建了一个封闭式基金对开放式基金补贴模型,指出投资者偏好、市场预期的开放式基金销售量、激励机制、基金公司自身的管理能力是影响补贴行为的重要因素,并讨论了如何进行防范。
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| 关 键 词： | 基金公司 封闭式基金 开放式基金 补贴 |
Research on Subsidization from Closed-end Funds to Open-end Funds in Funds Companies |
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| Institution: | Shu Jianping,Wang Susheng,Yang Huiz |
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| Abstract: | Because of difference of closed-end fund and open-end fund,fund companies tend to subsidize open-end funds and expropriate closed-end funds.Empirical evidence shows that subsidization from closed-end funds to open-end funds does exist in Chinese capital market.Then,the paper proposes a subsidization model from closed-end funds to open-end funds and points out that investors’ preference,expected open-end funds sales of the market,incentive mechanism and management level are important factors to subsidization behavior. |
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| Keywords: | Fund company Closed-end fund Open-end fund Subsidization |
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