The Research On The Incentive And Constraint Mechanism Of China's Boutique Investment Banks

In practice,China's boutique investment banks have achieved iterations of multiple versions of boutique investment bank 1.0,boutique investment bank 2.0,and boutique investment bank 3.0.Theoretically,there are few relevant data on boutique investment banks in China,and the theoretical research on boutique investment banks is close to blank.There are also few studies that combine incentive and restraint mechanisms with boutique investment banks.In terms of research significance,this paper fills the thinness of the relevant theoretical research of boutique investment banks to a certain extent,and enriches the theoretical system of incentive and restraint mechanisms of financial institutions from the perspective of boutique investment banks,which has high theoretical significance.On the other hand,I hope to provide some reference for the development of the industry through the research in this paper.In terms of research content,this paper innovatively uses the incentive and restraint mechanism of boutique investment banks as a research perspective,through the analysis of the boutique investment bank EF company.In addition,it also studies and draws on the incentive and restraint mechanisms of more mature systems such as accounting firms and private equity institutions.In terms of research methods,this paper carried out case studies on the one hand.On the other hand,it also touched more than 2,000 people through WeChat channels and industry visits,obtained 171 valid responses and conducted regression analysis.Through the above research,this paper has obtained the following research conclusions.In addition to affecting the performance of boutique investment banks,the incentive mechanism will also affect daily management.Credit recognition will often become a blind spot in the design of incentive mechanism for boutique investment banks.The boutique investment bank restraint system can help the incentive mechanism to have a positive impact.The effect of the upper restraint system on improving performance is not obvious.