摘要
保险资金投资体制改革的主要取向之一是鼓励保险资金以股权的方式投资不动产。REITs作为房地产市场股权投资的一种方式,具有非关联性、高流动性和高回报率的特点,这与保险经营具有的强外部性、成本滞后性、交易射幸性、资金运转周期长等特点相契合,为保险资金投资房地产搭建了难得的操作平台。系统梳理RE-ITs发展历程,揭示保险资金投资REITs的模式及存在风险,对我国保险资金投资REITs健康发展有一定学术价值。
One of the main reforming trends of insurance funds investment system is to encourage the insurance funds to invest in real estate market in the form of equity. REITs, as a way of equity investment in real estate market, are characterized by non-relevance, high mobility and high return. All the above characteristics of REITs corresponding to those of insurance management, which include strong externality, the hysteretic nature of cost, the aleatory transaction, and the long running period of capital, provides an excellent platform for the investment of insurance funds in real estate market. This paper systematically focused on the development of REITs and the investing modes and the existing risks of insurance funds in REITs. Moreover, some relevant policy suggestions on the investment of insurance funds in REITs were put forward.
出处
《现代财经（天津财经大学学报）》
CSSCI
北大核心
2009年第8期17-21,27,共6页
Modern Finance and Economics：Journal of Tianjin University of Finance and Economics
基金
天津市教委2008年重点项目<滨海保险改革试验区中保险资金投资渠道创新研究>的阶段性成果
