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題名 前瞻性績效衡量值運用於全權委託投資業務之經濟分析
Economics Analysis for the Application of Forward-Looking Performance Measure to the Discretion Account Business
作者 陳燕錫
Chen, Yahn-Shir
貢獻者 康榮寶
Jungpao Kang
陳燕錫
Chen,Yahn-Shir
關鍵詞 全權委託投資業務
代客操作
主理人-代理人模式
前瞻性績效衡量值
改良式績效佣金制度
Discretion account business
Principle-agent model
Forward-looking performance measure
Improved performance fee system
日期 1999
上傳時間 21-Apr-2016 09:37:12 (UTC+8)
摘要 全權委託投資業務(俗稱代客操作),在證券市場中提供專業投資管理服務。我國證期會於民國81年,政策性地決定將開放此項業務。雖然整個規範體系已在民國87年建立,但它忽略掉經濟層面之考量,勢必造成全權委託投資契約無效率。
Discretion account business provides professional investment management service in the securities market. The Securities and Futures Commission decides in policy to approve the business in 1992. Althrough the regulation system of the discretion account business has been established, it will make the advisory contract inefficient with the negligence of economic consideration. The form of advisory fees permitted by the regulation system is `constant fee system`. Under the system, advisory contract provides no incentive and serious moral harazd will occur. In order to solve the motivation problem, `performance fee system` should be used. Under the circumstance of Taipei securities market, however, the performance fee system will bring in high risk. Hence, this paper suggests the `improved performance fee system` to overcome the dilemma born by the performance fee system. In the improved system, advisory fees are based on the traditional performance measure and the fordward-looking performance measure (hereafter F-LPM).
參考文獻 林日峰 民國73年1月 證券投資顧問事業對於證券市場之功能 證券管理第二卷第1期 14-16頁
描述 博士
國立政治大學
會計學系
84353503
資料來源 http://thesis.lib.nccu.edu.tw/record/#B2002001135
資料類型 thesis
dc.contributor.advisor 康榮寶zh_TW
dc.contributor.advisor Jungpao Kangen_US
dc.contributor.author (Authors) 陳燕錫zh_TW
dc.contributor.author (Authors) Chen,Yahn-Shiren_US
dc.creator (作者) 陳燕錫zh_TW
dc.creator (作者) Chen, Yahn-Shiren_US
dc.date (日期) 1999en_US
dc.date.accessioned 21-Apr-2016 09:37:12 (UTC+8)-
dc.date.available 21-Apr-2016 09:37:12 (UTC+8)-
dc.date.issued (上傳時間) 21-Apr-2016 09:37:12 (UTC+8)-
dc.identifier (Other Identifiers) B2002001135en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/85864-
dc.description (描述) 博士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 會計學系zh_TW
dc.description (描述) 84353503zh_TW
dc.description.abstract (摘要) 全權委託投資業務(俗稱代客操作),在證券市場中提供專業投資管理服務。我國證期會於民國81年,政策性地決定將開放此項業務。雖然整個規範體系已在民國87年建立,但它忽略掉經濟層面之考量,勢必造成全權委託投資契約無效率。zh_TW
dc.description.abstract (摘要) Discretion account business provides professional investment management service in the securities market. The Securities and Futures Commission decides in policy to approve the business in 1992. Althrough the regulation system of the discretion account business has been established, it will make the advisory contract inefficient with the negligence of economic consideration. The form of advisory fees permitted by the regulation system is `constant fee system`. Under the system, advisory contract provides no incentive and serious moral harazd will occur. In order to solve the motivation problem, `performance fee system` should be used. Under the circumstance of Taipei securities market, however, the performance fee system will bring in high risk. Hence, this paper suggests the `improved performance fee system` to overcome the dilemma born by the performance fee system. In the improved system, advisory fees are based on the traditional performance measure and the fordward-looking performance measure (hereafter F-LPM).en_US
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#B2002001135en_US
dc.subject (關鍵詞) 全權委託投資業務zh_TW
dc.subject (關鍵詞) 代客操作zh_TW
dc.subject (關鍵詞) 主理人-代理人模式zh_TW
dc.subject (關鍵詞) 前瞻性績效衡量值zh_TW
dc.subject (關鍵詞) 改良式績效佣金制度zh_TW
dc.subject (關鍵詞) Discretion account businessen_US
dc.subject (關鍵詞) Principle-agent modelen_US
dc.subject (關鍵詞) Forward-looking performance measureen_US
dc.subject (關鍵詞) Improved performance fee systemen_US
dc.title (題名) 前瞻性績效衡量值運用於全權委託投資業務之經濟分析zh_TW
dc.title (題名) Economics Analysis for the Application of Forward-Looking Performance Measure to the Discretion Account Businessen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 林日峰 民國73年1月 證券投資顧問事業對於證券市場之功能 證券管理第二卷第1期 14-16頁zh_TW