| It is interdependent between the development of capital market and commercial banks. Under the situation that the domestic capital market development is fast and the banking industry of our country has already been completely open, commercial banks' management of our country is rigorous. The research purpose of this paper is to probe into the management and development of commercial banks from the angle that the development of capital market affects on commercial banks.In other words,the paper researches commercial banks from the point of view of the relation between commercial banks and capital market.The writer wants to probe into such questions as below:the relation between commercial banks and capital market, listing of banks,the capital market business innovation of commercial banks,risk supervision on the fusion of commercial banks and capital market.The writer mainly uses the following several kinds of research approaches:â‘ the method of institutional analysis and supply-demand analysis;â‘¡the method of historical analysis and comparative research;â‘¢the normative analysisi method combined with the positive analysis method.Generally speaking,train of thought in writing is from theory to practice. At first,the writer establishes the theoretical foundation that commercial banks enter capital market.Then the writer discusses the important way that commercial banks enter capital market, business innovation , risk supervision etc.The paper includes the preface and five chapters.Chapter 1 mainly elaborates the theoretical foundation that commercial banks enter capital market by theoretical analysis on the relation between commercial banks and capital market. In this part,the writer examines this matter from various angles,which include Merton and Bodie's functional perspective of financial theory, systematic theory,scale-economy and scope-economy theory,fmancial asset similar nature theory,financial resources sharing theory,financial symbiotic theory etc.The writer points out that the relation between commercial banks and capital market is competitive and interdependent.Each of them can not be completely replaced by the other.Chapter 2 sorts out and summarizes the international experience that commercial banks and capital market are coordinated in some developed countries and developing countries from the point of positive analysis view.In this part,the writer sorts out the developing history of China commercial banks also.According to the fact that capital market has greatly affected commercial banks,the writer reveals the realistic meaning that commercial banks enter capital market in China.At the same time,this chapter analyzes the relation between security assets and traditional commercial bank's assets by using the data of America and China. Chapter 3 mainly anylyzes listing of banks,especially the listing of state-owned commercial bank,which is an important way that commercial banks enter capital market.In this chapter,the writer will discuss the following problems: the realistic meaning of listing of banks,the path choice of listing of state-owned commercial bank, the pricing of commercial bank's IPO,the legal issues of bank listing,the information disclosure of commercial banks, introducing foreign strategic investor and control right issues of state-owned commercial banks during bank restructuring,stock option and Employee Stock Ownership Plans (ESOP) etc.Chapter 4 mainly discusses the capital market business innovation of commercial banks.Most contents of them belong to the operating field.In this chapter,the writer gives some theory annotation to the commercial bank business innovation and introduces some experience that commercial banks become bigger and sronger by using capital market in the world first.Then the writer puts forward some supply-demand factors that promote the comprehensive operation of finance from the institutional economics angle, points out the business scope of commercial bank in China and analyzes the trend of universal banking. Afterwards,the writer puts forward the principle and development strategy that commercial banks develop capital market business.Finally,the writer introduces some investment-banking business of commercial banks, such as financial consultation, enterprise merger and acquisition,banking syndicate loans arrangement,and asset-backed securitization etc.Chapter 5 mainly analyzes the risk factors and risk supervision about the fusion of commercial banks and capital market.In this chapter,the writer first points out the risk of listing of banks,credit fund getting into stock market,and commercial banks establishing fund management company etc.Then the writer puts forward risk supervision strategy,and advances some suggestions about the problem that how to construct risk supervision system and how to guard against or control the fusion-risk of commercial banks and capital market.The paper's main innovation is as follows:1.It is the innovation in choosing subject.The paper jumpes out of the traditional limit that discusses commercial banks in the area of commercial banks.The writer chooses studying on the problem of commercial banks entering capital market as the paper's title,which is not offen seen in the past works and documents.The paper's choosing subject has some new meaning from this angle.2.It is the the innovation in theory analysis. The paper elaborates the relation between commercial banks and capital market from various angles,completely analyzes the relation between commercial banks and capital market,which is competitive and interdependent.Therefore,the paper develops the theory analysis between commercial banks and capital market based on the former research.3.The paper sorts out and summarizes the contents that commercial banks and capital market are coordinated in China and foreign countries'financal history and reality from the point of positive analysis view.The paper's conclusion is as follows:First,it is a trend of modern commercial banks that commercial banks enter capital market in all countries;Secondly,the development of securities market has not clearly negatively influenced the increase of commercial bank's assets.4.The paper discusses the path choice of listing of state-owned commercial bank, the pricing of commercial bank's IPO,the legal issues of bank listing,the information disclosure of commercial banks etc.5.The paper puts forward the policy suggestion that commercial banks carry out stock option and Employee Stock Ownership Plans (ESOP) after listing of banks.6. The paper puts forward the viewpoint that our country can loose the stock right structure limit that foreign capital invest Chinese commercial banks.The paper also insists on that the government of our country should controle the ownership of state-owned commercial banks during the process of our country's banking reform.The paper points out that the government can maintain its strategic control over banks by setting up golden share in the stock right structure of state-owned commercial banks.7.The paper puts forward that universal banking is the goal mode of our country's commercial bank operarional transformation,and commercial banks develop capital market business should persist in the principle of doing or not doing. The paper advances the integrated strategic thought that commercial banks develop capital market business in China.8.The paper analyzes the risk factors of listing of banks,credit fund getting into stock market,and commercial banks establishing fund management company etc. The paper puts forward some suggestions such as setting up coordination committee of financial supervision in China, constructing the unified financial supervision system and risk supervision system etc.
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