| 1. Research PurposesSince the Reform and Opening up, the overall strength of China’s financial institutions has been continuously enhanced, including the abilities to control and resist risks, and thus these institutions are playing positive roles in improving national economy.Since China’s entrance to WTO and the full liberalization of the financial markets, China’s domestic financial market is further prospered, and the market competition in the financial sector is immensely intensified at the same time. All these brought new challenges to domestic financial institutions. A serious of reforms was taken on financial institutions in order to contend with those new challenges and opportunities. The major state-owned national banks were transformed into state-controlled commercial banks according to the requirements of modern enterprise system, and established corporate governance structure and the state-owned capital as the mainstay, supplied by a variety of joint-stock financial system. Commercial banks designed and improved their financial products to meet the increasing need by social production and public wealth management. All the commercial bank transformed into national financial service agencies taking responsibilities of social services and national economy from simply providing funds and settlement business credits for enterprises; they abandoned the old business method of waiting for enterprise loans and public savings, initiated professional and people-oriented services, provided wealth management services and all-rounded financial services for their clients, and actively learn from international practices.However, there is a certain gap between domestic and foreign financial institutions in many fields, such as corporate governance structure, internal management, financial product innovation, and incentive and restraint mechanisms, and so on. In order to meet the challenges placed by foreign capital invested banks within the country, and at the same time to participate in the international financial market competition, it is necessary for the China’s commercial banks to make improvements in the following two aspects. First, all commercial banks need to carry out reformation of the shareholding system in accordance with the requirements of modern enterprise system, and to further improve the corporate governance structure. Second, professional manager system must be implemented in order to create a professional bank manager team in accordance with China’s special characteristics. All these improvements are aimed to make China’s domestic commercial banks ready for the development of china’s market economy and the international fierce market competition.Through theoretical study of the professional manager system related researches, this paper aims to deeply analyze the development trend of China’s commercial banks under the pressure of fierce competition and their need for professional talents. By introducing the professional manager system, we seek to establish a Chinese characterized professional manager system of commercial banks, in order to defend various financial risks and improve the market competitiveness of commercial banks.Through studying modern enterprise systems, the principal-agent theories and other theoretical studies, this paper explained the working condition and further development space of professional managers. After analyzing domestic and abroad research about professional managers and professional managers’competency model, this paper reveals the ability requirements for general professional managers. This paper develops from the perspective of China’s commercial banks’ status and role in national economy and the fact that they are dealing with fierce market competition, and after studying the modern enterprise system reformation of commercial banks, this paper analyzes the present condition and future development of the separation of ownership and management of commercial banks, and reveals the demand conditions of professional managers in China. By analyzing the present condition of professional managers in China after the Reform and Opening up, this paper illustrates the real-time problems and systematic deficiencies of the existing system, and lightened the necessity and urgency of the introduction of the professional manager system. In the end, considering the particularity of China’s commercial banks, China’s current economic system and the development of commercial banks, we offered a constructional structure design of professional manager team of China’s commercial banks.This paper is of great theoretical and practical importance. From a theoretical point of view, professional manager system was originally introduced from abroad, and relies on the establishment of the modern enterprise system, which includes the separation of ownership and management. China is in an economic transformation period, so thorough study on the role of professional managers in commercial banks is of positive theoretical value. In practical terms, since the Reform and Opening up, a lot of improvements have been made to the financial institutions, which went through administrative management to market competition, particularly commercial banks. Even the four major state-owned national banks were changed according to the joint-stock transformation into state-controlled commercial banks. All these changes would undoubtedly provide opportunities for the production, usage, reproduction, and success of the financial professional managers. Therefore, deep discussion of professional managers’role in financial sectors is very important for further improvement of the corporate governance structure of financial enterprises, creation a new generation of financial bankers, and the full display of financial institutions’role to support national economy in fierce global competition.2. Research ApproachesThe following four approaches were adopted in this paper. The first approach is analysis method. This paper analyzes and compares the domestic and international professional managers’working environment and institutions, and finds the differences between China and western countries in the field of concept, institution, management, and environmental governance, and then builds management systems suitable for the development of China’s professional managers. The second approach is empirical analysis. A lot of examples are introduced in this paper to explain the social role of professional managers, and some successful examples are illustrated to further explain the importance of the team construction and institution construction of professional managers in China’s commercial banks. The third approach is theoretic leading approach. Through studying related researches, this paper explores the working conditions and further development space of professional managers, and thus lays the theoretical foundations of implementing professional manager system for China’s commercial banks. The last approach is retrospective method. By studying the institution of Shanxi’s comparatively successful draft bank as an ancient metaphor for today’s use, this paper offers some meaningful tips for professional ethics, professionalism, as well as incentive and restraint mechanisms for the commercial banks.3. Content and structureThe full text is divided into six chapters.Introduction, The first chapter illustrates the main purpose of this paper, the present domestic and abroad researches, as well as the basic points of this paper, research methodology, and literature bibliography.Theoretical foundation of the professional managers systemThis chapter focuses on the theoretical foundation upon which the professional managers develop, including the principal-agent theory, the theory of modern human resources, as well as game theory, and so on.Professional managers’competence modelThis chapter focuses on the general definition, the characteristics, the requirement, and the development of professional managers.The development prospects of China’s commercial banks and the demand condition of professional managersChapter four mainly illustrates the role of commercial banks in the national economy. It discusses the professional manager system of financial institutions in modem history, and China’s commercial banks’demand for professional managers under modern enterprise system.Analysis of present HRM situation of China’s commercial banksChapter five focuses on the personnel systems in China’s commercial banks and the present condition of HRM of China’s commercial banks; and analyzed the introduction barriers of professional managers of China’s commercial banks, and present conditions for those professional managers.Constructional innovation of professional manager teams in China’s Commercial BanksThis is the key chapter of the whole paper. The requirements for those professional managers and the subjective and objective conditions for their development are further explored in this chapter. And it also analyzes the constructional structure building of professional manager team, the special role of professional managers in socialist cause of China, and the incentive and restriction mechanism for them, and so on.4. Theoretical innovation and shortage of this paper(1)This paper puts forward the constructional structure of professional manager team in China’s commercial banks. Upon the entrance to WTO, China’s commercial banks must employ the professional manager system. Those professional managers should not only possess basic quality, professional requirement, professional ethics, and abilities, but also be suitable for Chinese present situation. For instance, because of the requirement of socialist economy with Chinese Characteristics, the professional managers in China’s commercial banks must have a high degree of awareness of public service and social responsibility. The rich cultural heritage in China also requires those professional managers of commercial banks to promote these national cultural merits. In order to meet the requirement of economic transformation, professional manager team in China’s commercial banks should be multi-level structured. The incentive and restriction mechanism for professional managers in China’s commercial banks must also be structured by various levels and formats, combined with practical and effective management methods and social recognition.(2)This paper offers some systematic suggestions for constructional structure building of professional manager teams in China’s commercial banks. For example, the establishment of a modern enterprise system and the improvement of corporate governance structure for China’s commercial banks are the premise for development of these professional managers in China’s commercial bank. Setting up a standard for those professional managers in accordance with Chinese reality is the core step to build professional manager teams in China’s commercial banks, with the establishment a serious of bylaws suitable for the development of professional managers in commercial banks being the institutional assurance and designing the breeding and evaluation system for the professional managers in commercial banks being the key point; and the improvement of incentive and restriction mechanism for commercial bank managers of every level being the effective method to strengthen the professional manager team and to control financial risks.The problem of professional managers of China’s financial business is a brand new research field. Combined with my own work experience and theoretical studies, I put forward these research proposals and innovative ideas. However, because I have been engaged in practical work for a long time, and my theoretical study, knowledge structure, and resources are subject to certain limitations, the results of my current study are not fully satisfying, which needs further research and perfection. With the continuous deepening of the market economy, the reformation of the financial system, and the improvement of the corporate governance structure and people’s career understanding, the systematic innovation, practical and theoretical research will definitely be expanded. There would be a wide space for further study in this area. |
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