Dissertation > Excellent graduate degree dissertation topics show

Research on the Supervision of Chinese Financial Holding Companies in the Background of the Financial Crisis

Author: LiZhuJun
Tutor: LuLi
School: Southwestern University of Finance and Economics
Course: Economic Law
Keywords: Financial crisis Financial holding company Systemic risk Regulatory
CLC: F832.39
Type: Master's thesis
Year: 2011
Downloads: 355
Quote: 0
Read: Download Dissertation

Abstract

From a global perspective, the financial mixed operation is undoubtedly the main trends in the development of modern finance, the financial holding company financial mixed operation mode, efficient and scientific supervision of the maintenance of the stability of financial markets and to promote the health of the financial sector. sequence development of great significance. April 2007 outbreak of the U.S. subprime mortgage crisis quickly developed into a worldwide financial tsunami, the international financial regulatory facing unprecedented challenges and tests, \is both a severe test but also a development opportunity. The crisis, as the representative of the independent investment bank Lehman Brothers and the persistence of traditional basic banking banks relative to Citigroup comprehensive financial holding group suffered huge losses, the subprime crisis has highlighted the financial holding company in resistance on the superiority of the risk, and also provided an opportunity for the rapid development in the post-crisis. The same time, the financial regulation of the financial crisis on a global scale proposed new requirements, governments are more aware of the importance of financial supervision and financial stability, and thus to improve and strengthen financial supervision has become the focus of attention of Governments in the context of the global financial crisis , have carried out the reform. Regulatory reform of the financial holding company in the post-crisis era, played a more important role in the transformation of the financial regulatory system. National financial regulatory reform measures embodied in the concept of regulation changes and on the specific system design changes to improve the supervision of financial holding companies in China an important reference. The text of this paper is divided into six parts, the logical structure of the wording is expanded: deep-seated reasons led to the financial crisis is the lack of supervision of financial markets - strengthen the financial holding company that plays an important role in the financial markets What are the implications supervision of financial entities - countries have in the post-crisis financial regulatory reform - what reference - to summarize the development of China's financial holding company status and regulatory status quo of China's financial supervision - to point out the problem combined with the present situation in China, where - through the aforementioned concluded its own proposals designed to improve the regulatory regime of the financial holding company in China. The first part is the introduction part of the interpretation of the purpose and significance of this study, pointed out that this article is designed by analyzing regulatory reform countries in the context of the financial crisis and the reality of our country to improve the regulation of the financial holding company in China and put forward feasible constructive comments . Research topics in this article a brief introduction on the domestic and foreign scholars. Pointed out that currently the supervision of financial holding companies in the context of the financial crisis also focused on the introduction of foreign advanced theory and research and comparative analysis stage. Many scholars are for the financial crisis or separately for the development of the financial holding company, from the outbreak of the financial crisis, the root of scholars to investigate the regulation of financial holding companies under the new international environment is still relatively small. The research method listed at the end of this section, the article discusses the logical structure of interpretation. The second part of the financial holding company concept defined and clear to avoid ill-defined cause conceptual confusion, the effect of the text discussed. Related legal documents and scholars discussed the definition of the financial holding company of the sort, pointed out that the author of the financial holding company is defined as: financial holding company means a holding or other managed to achieve control over controlling at least one operating entity engaged in at least two different industry group of companies in the banking, insurance, securities and other financial industry. Lists the current conventional financial holding company categorized. In addition, the characteristics of the financial holding company summarized and concluded on the nature of the financial holding company to a financial institution, its business scope mainly or entirely engaged in financial business and holding the main implementation mode, the \mode of operation, accepted in the regulatory supervision of the financial regulatory authorities. Analysis of the general risks of the financial holding company, including the risks of interrelated transactions pass, systemic risk, public disclosure of a low-risk, capital adequacy ratio and high financial leverage risk. In the second part of the root causes of the financial crisis in-depth analysis, mainly lack of supervision from the point of view that the liberalization of the regulatory philosophy weakened supervision, regulatory system exists defects and liberalization under the neo-liberal regulatory the proliferation of the world led to the financial crisis. Liberalization regulation financial regulatory authorities by financial reforms or other measures to relax or even lift the various controls on the financial markets, but the serious absence of government regulation is bound to leave space for the growth of the crisis. Analysis of the pre-crisis regulatory regime in the United States also pointed out that traditional institutions regulatory model has been unable to meet the requirements of the modern financial regulation, long prone to regulatory supervision blank areas and long regulatory checks and balances can easily lead to regulatory standards are not unified \of the situation, will increase the cost of regulation to reduce efficiency. The second part concludes the cause of the outbreak of the financial crisis What are the implications supervision of financial holding companies, pointed out that the financial crisis on the supervision of the financial holding company has put forward new requirements: financial regulatory system to adapt to market changes, financial regulatory coordination and cooperation increasingly important to avoid financial risk control system in the absence of government, emphasis on the protection of financial consumers. The third part of the first, a brief introduction to the typical traditional national financial holding company regulatory approach, including the umbrella regulatory approach in the United States, the United Kingdom unified regulatory approach, the unification of Germany regulatory approach, and Australia bimodal regulatory approach. Comparative analysis and summary of the development of the legal systems of the countries in the post-crisis financial regulation change, a comprehensive reform of the U.S. financial regulatory program to strengthen the protection of financial consumers and investors, to guard against systemic risk, improve the regulatory system and strengthen financial institutions senior management remuneration regulatory aspects; British financial regulatory reform program including the establishment of the Financial Stability Board, to further improve and strengthen the functions of the Financial Services Authority (FSA), to strengthen the management of systemic risk, attention to the protection of consumers' interests to strengthen supervision at the same time to promote competition and strengthen international regulatory cooperation; overall strengthening of EU financial regulatory reform program from the new European Systemic Risk Board (ESRB), the formation of pan-European financial regulatory system (the ESFS), strengthen micro-prudential supervision and financial institutions risk management aspects to explore. Concluded that China improve the financial regulatory system should focus on strengthening the protection of financial consumers, coordination of macro and micro supervision to control systemic risk to carry out two, to establish a sound macro-regulatory system, guard against systemic risk; perfect financial innovation supervision, coordination of financial regulation and financial innovation relationship; strengthen financial consumer protection, improve the legal system construction; strengthen international cooperation in financial regulation, the advocate of a new international financial order. The fourth part is the analysis of the present situation and problems of supervision of financial holding companies in China, the development of the financial holding company in China can be divided into the development of the financial holding company from Group companies, financial holding company evolved from commercial banks, to the holding company by the development of non-bank financial institutions and industrial holding company in four categories. From the perspective of reflection of the financial crisis, the regulatory regime of the financial holding company in China, there are many real problems, by special financial environment and financial holding company in China's primary development, China's financial holding company has its special risk: (1) absence of legislation, to whom so far China has not a similar specific regulations to regulate the development and regulation of the financial holding company of the Financial Holding Company Act \corporate governance structure and an internal control system problems causing the company's development level is not high; (4) the development of the financial holding company model is complex and diverse challenges to the existing regulatory regime. Analysis of the defects of the current regulatory system: the laws and regulations of the regulatory basis of incomplete, the separate supervision prone to regulatory vacuum, the backwardness of the financial regulatory approach, departments, lack of country cooperation to some extent, as well as China's financial holding company deficiencies in internal control. The fifth part of the article is on the part discusses the basis to make recommendations to improve the regulatory system of financial holding companies in China. Finishing the idea of ??the author for how to construct a financial holding company regulatory system: first, and gradually to the same functional supervision over the establishment of a coordinated regulatory system; Second, improve the information disclosure and credit rating mechanism to protect consumers interests; Third, related party transactions control system from the internal sound financial holding company, the capital adequacy ratio regulatory system, the internal firewall system to improve the financial holding company's internal control system to prevent systemic risk; Fourth, improve the financial holding company market exit mechanism, proposed mergers and acquisitions and bankruptcy liquidation in two ways, in the improvement of the market exit mechanism to protect depositors should be taken into account; Finally, strengthen the supervision of international cooperation because of the financial holding company through its network of operations on a global scale optimization allocation of resources and economies of scale at the same time also means that its risk control can not rely solely on the separate regulatory power of the individual countries can do to strengthen cooperation at the international level on the supervision of financial holding companies become increasingly important and urgent. Improve the regulatory regime for the financial holding company in China should not only focus on the domestic regulatory co-operation with other countries, but should strengthen international perspective. The last part of the text is a summary of the entire article. Difficulties and innovations of the creation of the paper. I encountered some difficulties in the process of creation in the papers, mainly targeted relatively little information. Previous theoretical studies focused on financial regulation, a relatively small study devoted to the supervision of financial holding companies, often as a part of the financial regulatory course of the study; Secondly, the background of the financial crisis to expand the regulation of the financial holding company special study is relatively small; again, because of the degree of internationalization of China's financial industry is still relatively low, did not suffer from the financial crisis in developed countries suffered huge impact, combined with China's actual post-crisis financial sector, financial The holding company conducted under the supervision of the literature is not much. Correspondingly, the innovation of this paper is also reflected in the unique entry point of the thesis and perspectives: financial crisis, countries in the post-crisis regulatory reforms are carried out in-depth analysis of the root causes of the financial crisis, combined with the actual situation of the development of domestic financial holding company analysis and study, supplement and perfect the previous regulatory proposals, added a new element.

Related Dissertations

CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Financial organizations, banks > Other financial organizations
© 2012 www.DissertationTopic.Net Mobile