Reseach On The Control Rights Of Banking Industry: Based On A New View Of Financial Security

In the 21st century, the flowing change of finance, trade and technology will decide the political economic reality in the age of globalization. The wave of globalization is blustery. Along with the conclusion of the transition period after entering WTO, the opening of financial industry in our country is irreversible. The property right reform of state-owned commercial banks has already completed smoothly except the Agriculture Bank of China, which the introduction of strategic foreign investors becomes one of the important strategic arrangements. With the extent of the banking industry opening deepening, as strategic investors, international active banks exert great competition pressure on the banks of China, and maybe influence the financial security of our country. The banking industry is strategic industry, so the overall strategy of the opening of bank is closely linked with the financial security maintenance, and the new disposition of financial resource after the foreign capital enters, which is the focal point of those disputed questions. Based on this background, this article takes financial security, banking industry opening and the control rights of banking industry as the main objects, and focuses on the logical relation of the three aspects. This article has constructed an analysis frame for the financial security and the control rights of the banking industry. The full text altogether divides into six chapters.The first chapter proposes a new view of financial security in the age of globalization based on the theories of IPE and financial economics. The key point is the connotation, the idea, the research angle and the origin of theory of financial security.The problem of financial security is a big comprehensive problem of international politics, international economy, culture and etc. How to set up financial security research frame is itself a problem on theory. The national security, the economic security and the financial security are cross-correlation three levels. Financial security's maintenance is the important component of national security strategies, and it is linked with systematic risk, financial crisis, financial sovereignty, and etc.The key of financial security lies on maintenance of the core value of finance, and the core value mainly manifests resources disposition function through market. The highly effective stable financial system and the resources'control right disposition are in itself inseparable. Under the background of financial internationalization, it is very hard for the opening country to balance between the risk and the efficiency in finance opening process. The process of finance opening is a process to share non-core financial sovereignty.The second chapter studies the motivation and the effect of banking industry opening through the literature research, and analyzes various game cases of banking industry's control rights through international comparative analysis.This chapter analyzes many kinds of hypothesis from angle of the multinational bank and the host country, and makes a systematic commentary on the effect of foreign bank entry. From the macro effect of the opening of the banking industry, the western developed countries want to get the control right of banking industry through geography economic policy and other methods. Some Eastern European and Latin American countries opened banking industry because of economical reforming or economic crisis, which causes the majority of market share controlled by the foreign capital. On the contrary, the economic giants carry strict supervision on the foreign capital into banking industry, and the enterprises or the government of the country controls the banking industry firmly.The third chapter is the key point of the full article. This chapter constructs the frame to study the control right of banking industry from individual bank and banking industry angle, and establishes the indicator system to judge the degree of banking industry controlled by foreign capital.Based on the company government theory and industry control theory, this chapter analyzes the essential control factor from particularity and core competitiveness. This article believes that control right is the basic factor for a modern bank, and we can get relative control right through control non-capital factor. The control right of banking industry is not only the total banking capital quantity. The core is to control the economic interest of market and control the emissivity of banking industry resources to state economy and security. The economic interest and its influence on national strategies is motivation or result of the competition on control right. Foreign economy may invade the market of host country through expanding managerial organization or share-holding merger. The structure of banking industry in host country decides the way and the strategy of foreign capital to control; To enhance the international competitiveness of bank system and promote financial stability is the basic measure to keep control right; Government's rules and regulations are the main form and method to counter foreign capital seepage.The fourth chapter elaborates the influences of introducing strategic investors on financial security of our country through analyzing the foreign strategy investor's whole world developmental strategy, international merger and acquisition behavior, and the development momentum of Chinese area.The introduction of foreign strategic investors is an important action for the commercial bank reform in our country. Although the original intention of releasing bank's stockholder's rights was good, foreign bank's strategic motive and behaviors has brought huge pressure on financial industry in our country. The multinational merger and acquisition is the core constituent in the multinational bank overall strategy. In some countries'process of opening banking industry, the multinational banks have always acted as active participant and pusher, so foreign financial institutions'share-holding in Chinese-funded bank or starting operating institution in China is an important step under their global strategy framework, and the foreign merger and acquisition behavior in China is only a part of international merger and acquisition in banking industry. Some international active banks, like HSBC and the Citibank, have great strategic ambition in Chinese market, which worth our government's attention.The fifth chapter studies the influence of international politics on the strategic choice of banking industry in our country.Financial liberalization is by no means a pure economic question. When we make choice, we must balance among the domestic interest groups and as well as countries. From international politics'angle, international finance domain presents obvious center - marginal texture. The geopolitics, the ideology and the culture will bring remarkable difference to different nations'financial security.The sixth chapter makes conclusion and forecasts. This chapter concludes the preamble research conclusions, and makes judgments on future banking industry and financial security situation. This article proposed that all evidences at present stage are insufficient to support the view that foreigners will threat financial security through controlling bank market of our country, and in foresee time the control right of banking industry in our country can obtain the safeguard. At last, this chapter proposes policy suggestion for the opening of banking industry to maintain financial security in our country.This article presents three innovations as follows:First, the angle of research is new. This article cuts into financial security problem from the national security and the opening strategy, studies the connotation, level and idea of financial security under the global politic economic background, and constructs a comprehensive financial security research frame based on double angles of financial economy and the financial politics.Second, this article thoroughly analyzes the motive, the strategy and the political economic constraint of various countries'governments and banks, integrates the scattered theory about banking industry's control right into one unified frame from individual and industrial angle, and elaborates the logical relation among the opening of banking industry, the control rights of the banking industry and financial security, which strengthen the fundamental research's systematic characteristics.Third, this article establishes indicator system of judging the degree of banking industry controlled by foreign capital, carries judgment on the banking industry's control right situation at present stage in our country for the first time in domestic, estimates financial security situation's future change tendency, proposes the strategic points to maintains financial security in our country and gives the corresponding policy suggestions.