Management compensation incentive and restraint mechanism on the equity open-end funds
股票型开放式基金管理报酬激励约束机制

To analyze the fund management compensation incentive and restraint mechanism,it empirically examed the relationship between the equity open-end fund management compensation and performance based on the static panel data model.The results show that fund management compensation incentive and restraint mechanism in China is not working effectively.So it made some improvements to existing contract using the principal-agent theory.It introduced excess return which reflects managers' effort level to measure fund...