In global economy swift and violent development today, the capitalmarket took the money market the most important constituent, isplaying the more and more major role, but in the middle ofinternational capital market Participants,the investment bank must bemost active, develops rapidly. May say like this, the investment bankdiligently has not had international capital market today with theinnovation the prosperity. The investment bank is mainly is engaged inthe negotiable securities release, sells on consignment, thetransaction, the enterprise reorganizes, service the and so onannexation and purchase, investment analysis, venture capital, projectfinancing non- bank financial organ, is in the capital market mainfinance intermediary. The investment bank is the negotiable securitiesand the joint-stock company system develops the specific stageproduct, is the developed stock market and the mature financial systemimportant main body, is displaying the communication fund supply anddemand, the structure stock market, the impetus enterprise in themodern social economy development and buys, the promotion industrycentralism and the economies of scale forms, the optimized resourcesdisposition and so on the vital role. Our country negotiablesecurities company's grew out of nothing, has experienced more than 10years development, has obtained the encouraging result, but comparedwith the US large-scale investment bank, governed the aspect in thecompany very to be still backward, this already had the microscopicstratification plane the question, had the macroscopic aspect therestriction. Therefore, profits from the US investment bank governmentmechanism, to consummates our country negotiable securities company togovern has the very big enlightenment function.
The rapid development of the global economy today, the capital market as a financial market of the most important components of play an increasingly larger role in the international capital market participants, investment banks should be the most active, the most rapid development. Can say, no investment banking efforts and innovation on the international capital market to today's prosperity. Investment banks are mainly engaged in the issuance of securities, underwriting, trading, corporate restructuring, mergers and acquisitions, investment analysis, risk investment, project financing business in the non-banking financial institutions, the capital market is the major financial intermediary. Investment banks and securities companies shares system to a specific phase of the product developed a mature financial market and the main system. in the socio-economic development of modern communication play money supply and the structure of securities markets, the promotion of corporate mergers and acquisitions promotion of industrial concentration and create economies of scale and optimize the allocation of resources, and other important role. China's securities companies from scratch and has experienced 10 years of development, and achieved gratifying results. But with a large American investment bank, is the corporate governance is still very backward, which is the micro level, more macro side constraints. Therefore, from the United States investment bank management system to improve the management of China's securities companies is very enlightening.