The Study Of The Crisis And The Way Out Of Chinese Security Companies

The security companies go through many troubles from beginning to now. As an important agency organization of the capital market, the security companies affect the development of the capital market. In 2004, the security companies encountered serious crisis. Many security companies were taken over. The whole stock market was confronted with the collapse.Through analyzing the dead process of Delong system and Minfa security, this dissertation discusses the questions of"consignment financing","repurchasing government bonds"and"divert customer's credit balance to other purpose", then opens out the root of the crisis:the role of the security companies is improper, seller business is not flourishing, buyer's business is inordinate development and the corporation governance is not good.In accordance with the root of the crisis, the dissertation puts forward the measures to rescue the security companies: renewing the role of the security companies and improving corporation governance. The security companies must do reformation and innovation. Then they will exist and develop. Recently, the government has implemented the new policy, such as"supervise security companies by kind","central bank pump money into security companies"etc. This dissertation brings some opinions about them.This dissertation is divided into five parts to explain the crisis and the way out of the security companies.Chapter one reviews the development course of the stock market and the security companies, and other scholars'main viewpoints about the crisis of the security companies, then brings research train of thought and research approach finally.Chapter two through analyzing the dead process of Delong system and Minfa security, mainly discusses the question of"consignment financing","repurchasing government bonds"and"divert customer's credit balance to other purpose"etc.Chapter three through analyzing the crisis of the security companies finds the root of the crisis: the role of the security company is improper and the corporation governance is not good.Chapter four in accordance with the root of the crisis, brings the measures to rescue the security companies: renewing the role of the security company and...