| As a special and promising industry, investment banks play an important role in capital market, and are one of the key components of modern economy. In the process of the development of market economy and the improvement of economic structure, in particular the strategic adjustment of the structure of state-owned property, investment banks commit a significant duty. The international comparison of investment banks will not only collect evidences for deciding the strategies of the improvement of investment banks in China, but be indispensable in enriching and deepening the research in this area as well.Through comparison between Chinese banks and foreign banks, the main idea of the dissertation is to look into the rule of development of investment banks and predict the trends of development, find out the weaknesses of Chinese investment banks in comparison with foreign investment banks, and put forward the measures to promote their development. According to this goal, the author does comparative research on the following six major issues: the rules of emergence of investment banks, development modes of investment banks, traditional business, merger and acquisition, internal risk management, and external supervision of investment banks. The dissertation is organized as follows:Chapter I: Introduction. This chapter discusses the significance of international comparison of investment banks, objects, range and methodology of the research, summarizes the major points of this dissertation as well as the existing problems.Chapter II: Emergence, Definition and Classification of Investment Banks. First, the author compares the history of emergence of investment banks between several developed countries and explores the rules of emergence of investment banks. Secondly, after comparing and analyzing the defects of the present definition of investment banks used in the academic area, the author redefines the concept of investment banks. Finally, the author analyzes and summarizes the methods for classifying investment banking business, defines the structural concepts of investment banking business and suggests the outcome as the tool to analyze the development trend of investment banking business.Chapter III: International Comparison of Development Modes of InvestmentBanks. Based on the analysis of the background, the rules of forming and the development modes of American investment banks as well as the cause of that of German investment banks, the comparison with the differences between these two modes and their effects on the development rules of investment banks probes into the evolution process and trend of Chinese mode of investment banks, as well as how to balance the two roles of "financial institutions and intermediaries", the principles to be followed and the strategies to be adopted.Chapter IV: International Comparison of the Traditional Business of Investment Banks. This chapter begins with analyzing different investment banking, brokerage mechanism and the future trend of international development, then the author does comparative analysis of the states of securities underwriting and broking business under different investment banking and brokerage systems. Learning from the international experiences, analyzing securities issuing and reform of brokerage system in China, the author proposes Chinese strategies to develop securities underwriting and brokerage.Chapter V: International Comparison of Merger and Acquisition Business of Investment Banks. After necessary assorting, assessing the concepts and theories of merger and acquisition, the author reviews the history of merger and acquisition in developed countries, generalizes and summarizes the merger and acquisition activities and the rules for the development of merger and acquisition by investment banks, finds out the nature of merger and acquisition, and suggests that the merger and acquisition business is the historical mission and developing direction for Chinese investment banks.Chapter VI: International Comparison of the Interna...
|
PDF Full Text Request