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文章编号: 1001 - 148X (2005) 03 - 0139 - 04

我国投资银行业务的现状、风险防范及业务创新

杨树林1 , 王晓明2

(11 浙江金融职业学院金融与投资系, 浙江杭州 310018 ;

21 绍兴文理学院经济与管理学院, 浙江绍兴 312000)

摘要: 我国投资银行业务的现状及存在的问题: 传统型业务, 存在承销业务雷同, 经纪业务品种单 一, 业务趋同和业间合作趋同化; 创新型业务———并购业务, 存在诸多非市场因素及投资银行自身障 碍导致了并购后企业的低效率; 业务多元化是投资银行的发展趋势, 但多元化带来的利益冲突日益突 显。政府在政策上就必须逐步解除人为垄断, 引导投资银行走特色经营之路, 完善相关法规, 继续实 施产权制度改革, 推动并购业务的创新发展。券商要不断地进行业务创新, 开拓业务的多元化和国际 化, 以实现投资银行的可持续发展。

关键词: 投资银行; 传统型业务; 创新型业务; 企业并购

中图分类号: F83012 文献标识码: A

The Present Situation of Escaping Risk and Innovation in Our Countryps Investment Bank Business

YANG Shu2lin1 , WANG Xiao2ming2

(1. Department of Finance and Investment , Zhejing Finance College , Hangzhou , Zhejiang 310018 , China 21School of Economics and Management , Shaoxing College of Arts and Sciences , Shaoxing , Zhejiang 312000, China)

Abstract : This paper analyses the present situation and existing problems in investment bank1In traditional business there exists the

same business , sgnal broker business and the collaboration between businesses is very similar1Merger &acquisition business contains

many non - market factors , obstructing investment bank. Although the developing aims of investment bank diversify business , it is

very evident to take back the conflict of the benefit1The government should get rid of monopoly and lead it to manage characteristi2

cally1The investment bank should innovate business and exert diversity business to realize its own proceeding development1

Key words : investment bank ; traditional bank ; innovational business ; merger &acquisition

收稿日期: 2003 - 11 - 02

作者简介: 杨树林(1970 - ) , 男, 河南信阳人, 浙江金融职业学院金融与投资系, 经济学硕士, 研究方向: 证券投资教学与研究。

从国际上来看, 投资银行界定存在地域差别,

欧、美国家将证券商称之为投资银行。日本、中国称