Theoretical Analysis And Its Application Of The Modern Investment Bank Research

It is impossible for other financial organizations to replace the functions and roles inherent in the investment banking organizations. The important functions in social & economic life are mainly reflected in bridging capital supplies and demands, optimizing resources allocation, constructing securities markets, promoting industrial concentration and so on. What are the origins in economics for these functions? How to explain theses phenomena from theory perspective? My thesis tries to analyze it from financial intermediaries, financial transaction costs and financial system innovation perspectives. Bases on these, we further modify the traditional definitions of investment banking, present a new definition and summarize the general rule of investment banking organization system. The inherent function of investment banking is to create wealth for shareholders within the acceptable risk-return framework. The wealth creation and risk-return are the main theory pillars in the investment banking operation fields. Not only the traditional operations but also the innovative operations and derivative dealings, including the underwriting and issue of securities, merger and acquisition, fund management, asset-backed securities, structured finance, risk management, venture capital and project finance and so on, are developed from theses basic analyses. This thesis focuses on theory and empirical researches on enterprise reform, asset management and risk management. Within the whole analysis process, I combine Chinese investment banking operations with those in the advanced countries, putting them at the same playing level. Chinese investment banking is in-separated part of the world financial system, and has its own specific survival bases. Analyses of Chinese investment banking can bring about new ideas and theory innovation, it is contributive to the development of investment banking. Control, internationalization and competition are the three permanent topics for investment industry. All theses issues are exist when investment banking emerges. Within the most time afterwards, when investment banking faced to competition from commercial banks, struggles to survive as the previous situation, these problems expose again. Investment banking evolves and develops in the process of continuos interweaving and breaking through. Discussing from a view of integrating development, law and supervisory is also a feature of my thesis.