論中國投資銀行業(yè)發(fā)展的定位.pdf

1、復旦大學碩士學位論文論中國投資銀行業(yè)發(fā)展的定位姓名：安紅軍申請學位級別：碩士專業(yè)：世界經(jīng)濟指導教師：唐朱昌2001.4.1AbstractComparedtocommercialbanks，investmentbanksarethosekindoffinancialinstitutionswhosemajorbusinessesarecapitaloperationsdirectlyrelatedtoinvestmentactiviti

2、esChineseinvestmentbankinghavebeendevelopingeversincetheReformandopenupbegan，andespeciallysincethesecuritymarketgrewuptoacertainsealeNowthatchimwillsoonenterintoWTOandthenChinesecapitalmarketwillbeopenedtotheoutsideworld

3、。ourinvestmentbankswillsurelybefacewithstrongcompetitionsAlongwiththereformpaceofChinesefinancialsystem，moderninvestmentbankswillcomeintobeinginchinaBasedonthatbackground，wediscusstheorientationofChineseinvestmentbanking

4、developmentinthispaperTherearefourpansasfollowed：Inthefirstpart，wediscussthedefinition，activitiesandfunctionsofinvestmentbanksInthispaperinvestmentbanksrefertothosefmancialinstitutionsthatfocusoncapitalmarketactivitiesin

5、cludingunderwriting，corporatefinance，mergersandacquisitions，financialadvising，fulldmanagementandventurecapitalmanagement，butnotincludingsecurityretailThemainfunctionsofinvestmentbanksareinvolvedinfmancialsource，advising，

6、informationtransmitting，financialinnovating，checkup，andsoonSecondlywerunbackoverthehistoryofinvestmentbanking，comparethedifferentcharacteristicsoftypicalinvestmentbankingmodeofthedevelopedcountries，andcometotheconclusion

7、thatitisnobetterorworsetoseparateinvestmentbanksfromcommercialbanksorallowthemtoconsolidate，forbankingsystemcanbemoresafeandsteadybyseparation，andbemoreefficientbyconsolidationChoosingamodeisatradeoffbetweensafetyandeffi

8、ciencyThirdly，wediscussthecompetitionsandchallengesfacedwithChineseinvestmentbankingatthedoorofWTOInaccordancewiththeGeneralAgreementonServiceTrade，ChineseinvestmentbankingwillbeopenedupBut刪nowChineseinvestmentbankingiso

9、penedtoaverylimitedextendThereisalongwaytogoforChineseinvestmentbankstobeabletochallengewiththedevelopedonesfromforeigncountriesInthelastpart，wegivesomesuggestionsonhowtodevelopChineseinvestmentbankingAsfortheinvestmentb

10、ankingmode，wepreferseparationmoderightnow，butconsolidationmodeisthetrendAsforthemainbodyofinvestmentbankingsystem，themajorsolutionistorebuildtheexistentnonbankfinancialinstitutionsintomoderninvestmentbanks，andtheminorway

11、istoestablishnewones，ineludingjoimventuresAsforthemarketorientation，ChineseinvestmentbanksshouldplayallimportantroleinhelpingChineseenterprises，especiallySOEs，toestablishmodernenterprisesystemandimprovingallocationofsoci

12、alrecoursesbyworkingastheirfinancialmedia，bridgesofcapitaloperation，andfinancialadvisersAnd，inordertomeetthechallengesofinternationalcompetitions，itisnecessarytoimprovetheinsideandoutsideenvironmentofChineseinvestmentban