Comparative Analysis Of The Mixed Operation Models In The United States, Japan, Britain And Germany And The Enlightment To China

Mixed business model, compared to the operation mode, means one financial institution can deal with different types of financial business. In mixed business model, the business in different types of financial institutions are related, and not strictly distinguished. In the 20th century, the global financial world has experienced three development phases: the first phase of mixed business model, developing phase of operation mode, and developed phase of mixed business model. Their generally present a twist development course.The western financial world, which is represented by United States, Japan, United Kingdom and Germany, respectively has its clear development track and its own characteristics, and all fit for the situation of their country. In teams of the financial operation mode reform, can we take a reference from their operation and experiences, and is that suitable for our actual practice. If we applied the mixed business model, how should we to achieve efficient supervisory management, and to reduce the financial risks. Is there any sufficient economic theory to give support to this change? These problems have practical meaning in our present situation. In this paper, we will take a comparison among the mixed business model in USA, Japan, UK, and Germany, mainly from their background, outside institutional environment, and supervisory system. Finally, we will give some advice and suggestions on the financial operation mode reformation.This paper can be divided into 5 parts:The first part is the introduction, generally summarized the backgrounds, and the meaning of this research, and the present situation of this kind of research, which introduced the general situation on present research of financial operation mode, the process of the research home and abroad, and the significance of this task.The foundation and types of the mixed business model will be discussed in the second part, generally involves the opportunity cost theory, Asset specialization theory,economy of scale and economy of scope theory, financial function opinion, etc. In the mean time, we will briefly analyze the characteristics and the types of the MIX in the developed countries.The third part is the main part of this paper. We take a comparison and analysis among the mixed business model in USA, Japan, UK, and Germany. It will take an overview on the mixed business model development background, outside institutional environment, organization structure, supervisory system, and mode comparison in those countries. Finally, it will find out their characteristics, differences, and their development inevitability.In the forth part, the paper will discuss what we can obtain from the experience of the four countries. Then analyze our present economic and financial characteristics, and analyze why financial share-holding company is the most practical mixed business model in our country, at the same time, we will discuss the suggestions in structuring and supervising the share-holding company in China. The fifth part is the conclusion. It is summarized why mixed business model has become a global trend in the financial world. In the background of world operation mode reformation, through exploration on the financial system and operation mode in the developed countries, it is analyzed and compared their advantage and shortage.The main ideas in the paper include:1.Mixed is a general development trend in the global financial world.As the development of the globalization, from the last century, there is a movement that the mode of operation turns back to the mixed business model. From the analysis of the mixed business model and western world financial operation model development process, the developing countries has finished the process from operation mode to mixed business model. We can see that the global mixed business model has become an overwhelming trend in the financial world.2.There are advantage and disadvantages in the mixed business model in developed countries.Due to the different background, law of financial supervision, market environment in different countries, there are three types of operation mode. The corresponding supervisory modes have different characteristics, which include mixed business model plus overall supervision; such as UK and Japan; mixed business model plus operation mode, such as USA and Germany.From the angel of cost, income, and safty, different operation mode has different advantages and shortages.3.The different mixed business models in different developed countries are closely related to their economic development process.For example, America established the operation mode system because of the financial crisis in the 1930s. In 1999, USA began to use the mixed business model because of the fast development of economy, financial instrument and fast development of the information techniques.4.Share-holding company mode is the most suitable choice in our country according to our own situation.Nowadays, the operation mode in China is separate business operation and separate business supervision system. In the 1990s, we have applied the mixed business model, but this mode is no longer fit for the development in the financial area. To structure the financial share-holding company will be more suitable for our financial institution business structure, asset structure, human resource structure, etc. And it will help to improve our financial management efficiency as well as the supervisory efficiency. It will greatly reduce the financial risks and stabilize our financial system. Therefore, share-holding company mode is the most practical and suitable operation mode in China.