美国信托投资原则的演变初探  

The evolution of the principle of trust investment

作　　者：刘冬霞[1] 

机构地区：[1]南京森林警察学院警务管理系,江苏南京210023

出　　处：《佳木斯职业学院学报》2014年第8期314-315,共2页Journal of Jiamusi Vocational Institute

摘　　要：从发展的角度来看,美国信托投资原则可分为三个历史阶段。首先,1869年,纽约州上诉法院创设了禁止信托投向股票的判例法。绝大多数州予以效仿。其根本原因是当时的通货膨胀率很低。其次,1937年,密歇根州率先摈弃安全投资原则,而代之以谨慎投资原则。绝大多数州予以效法。其根本原因是当时的通货膨胀率很高,致使安全投资受损。最后,1992年之后,美国联邦成文法实质上要求,信托设立有效投资组合。其根本原因是当代投资组合理论的兴起。From the point of view of development, the trust investment principle can be divided into three historical stages. First of all, in 1869, New York state court of appeals for the creation of the trust to the stock case law is prohibited. The vast majority of states to follow suit. The fundamental reason is that the inflation rate is very low. Second, in 1937, Michigan was the first to abandon principle of safety investment, and replaced by careful investment principles. The vast majority of states to emulate. The fundamental reason is that when the inflation rate is very high, the safety investment is impaired. Finally, after 1992, the federal statute law in essence, the trust set up efficient portfolio. The fundamental reason is that the rise of modern portfolio theory.

关 键 词：安全投 谨慎投资 有效投资组合 当代投资组合理论 

分 类 号：F837.12[经济管理—金融学]