| Investment Bank, as one of the poles in financial system, is a necessary part of modern Market mechanism, with a history of almost a hundred years. Investment Bank plays a significant role in world economy today when the capital market is highly developed .After the world war Ⅱ, especially in the recent 20 years ,financial globalization has become a key section of world economy integration. The internationalization of investment Bank services not only promotes the development of world economy greatly, but expands itself in size and power, and profoundly changes its outlook and mechanism as well. At the same time, the combination of finance and high-tech farther quickens the steps of financial globalization and financial innovation. It is proved by international practices that the development of Investment Bank has become a key standard to measure the Market economy in a certain country or region. Undoubtedly, without Investment Bank, there is no highly-developed market economy. Modern Investment Bank can make market economy operate well on the basis of efficiency, thus promoting its development ; it can impose direct influence on financial resources allocation; it can initiatively alter the old financial system and structure, and then purposely design a new one. Without Investment Bank's help to raise funds, to open new investment field, and to provide various kids of financial services in china's capital market, it would be impossible for china to develop its capital market, let alone its participation in international competition in the 21 century. Now, china is in a special period of structural reform and enterprise restructuring, during which a new market body is very much needed to promote the process of structural reform and enterprise restructuring; a setup with great power and high flexibility to coordinate the process; and still a workable medium body proved repeatedly by international capital market practices to enlive stock asset. This new body is Investment Bank, which is wanted as a body to take part in the historical reform of china's enterprises. Only through Investment Bank's participation in merger, acquisition and restructuring, can modern enterprise system be built up. Meanwhile, Investment Bank helps to readjust economy allocation, to make state-owned capital withdraw from certain competitive fields, to carry out the principle of "stress on the major and free development for the minor" intended for millions of state-owned enterprises, and to circulate and re-structure the property right and asset stock fixed for over 40 years. Thus, the development of Investment Bank determines that of china's capital market, and china's enterprise reform, and even the building of our socialist market system. Therefore, the building and development of our Investment Band is not only a significant goal theoretically and practically of our economic and financial reforms, but, most importantly a urgent and objective need to build up our socialist market economy. Based on analysis of the history and present situation of Investment Bank in the developed countries, my thesis aims to study the status quo of our Investment Bank, and to seek workable measures to promote its building and development with consideration of foreign advanced experience, and our characteristics.My thesis consists of 3 chapters. The first chapter "Brief Introduction to Investment Bank" makes a brief introduction to Investment Band with reference to the present situation of Investment Bank in the developed countries. It includes: Investment Band's definition, its services, organizational forms, operating procedures, features, and its status and functions. The second chapter "The Evolution of Investment bank", from a historic point of view, makes a brief introspection of the history of Investment Bank, especially our Investment Bank in the light of the developed countries' practices. It includes: the Investment Bank before 1929, the Investment bank during 1929 and 1933, the developing tendency of international... |
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