【摘要】：金融控股公司是隨著經(jīng)濟(jì)全球化、金融全球化的進(jìn)程而出現(xiàn)的一種新的組織形式,也是金融機(jī)構(gòu)提高自身競(jìng)爭(zhēng)能力的主要途徑。然而金融控股公司是一把“雙刃劍”,發(fā)展得當(dāng)能充分展現(xiàn)其“規(guī)模經(jīng)濟(jì)”、“范圍經(jīng)濟(jì)”等優(yōu)勢(shì),發(fā)展不得當(dāng)將會(huì)埋下新的、巨大的風(fēng)險(xiǎn)隱患,甚至殃及國家安全。目前我國存在形式各異的金融控股公司,理論界己達(dá)成共識(shí)認(rèn)為金融控股公司是我國實(shí)現(xiàn)綜合經(jīng)營的主導(dǎo)形式,而中共中央在《十一五規(guī)劃建議》中首次提出了穩(wěn)步推進(jìn)金融業(yè)綜合經(jīng)營試點(diǎn),標(biāo)志著我國的金融業(yè)將實(shí)現(xiàn)從分業(yè)經(jīng)營向綜合經(jīng)營的重大轉(zhuǎn)型,可以預(yù)見,我國金融控股公司組建的浪潮將會(huì)愈演愈烈。然而由于相關(guān)法律、監(jiān)管制度等外部因素的滯后以及金融控股公司內(nèi)部風(fēng)險(xiǎn)管理體系建設(shè)處于探索階段的現(xiàn)狀,我國金融控股公司在發(fā)展過程中隱藏著一定的風(fēng)險(xiǎn)。因?yàn)榻鹑诳毓晒镜膬?nèi)部治理結(jié)構(gòu)與一般公司內(nèi)部治理不一樣,導(dǎo)致其風(fēng)險(xiǎn)控制的方式與方法不類同于一般的公司,特別是財(cái)務(wù)風(fēng)險(xiǎn)。從金融危機(jī)為背景的美國雷曼公司為代表的金融控股集團(tuán)的倒閉,從根本上來說,正是缺乏針對(duì)金融控股公司的特有特點(diǎn)而設(shè)定公司內(nèi)部財(cái)務(wù)風(fēng)險(xiǎn)控制與防范。他山之石,可以攻玉,借鑒發(fā)達(dá)國家金融控股公司風(fēng)險(xiǎn)管理成功經(jīng)驗(yàn)并結(jié)合我國金融控股公司發(fā)展現(xiàn)狀,構(gòu)建具有中國特色的金融控股公司風(fēng)險(xiǎn)管理體系將有助于我國金融穩(wěn)定發(fā)展。為促進(jìn)中國金融控股公司的發(fā)展,完善內(nèi)部治理,迫切需要把風(fēng)險(xiǎn)管理和控制能力放在經(jīng)營管理的重要地位,建立全方位的風(fēng)險(xiǎn)管理和控制機(jī)制,完善對(duì)經(jīng)營者的監(jiān)督制度,杜絕“內(nèi)部人控制”現(xiàn)象,同時(shí)建立與各利益相關(guān)者利益掛鉤的高管激勵(lì)制度。 論文正文分為六個(gè)部分,第一部分主要闡述金融控股公司多元化經(jīng)營財(cái)務(wù)風(fēng)險(xiǎn)理論概述,包含對(duì)金融控股公司定義及類型、金融控股公司多元化經(jīng)營定義,和對(duì)財(cái)務(wù)風(fēng)險(xiǎn)相關(guān)定義。 第二部分主要結(jié)合我國具體情況闡述我國金融控股公司多元化經(jīng)營的現(xiàn)狀,分析了我國金融控股公司的主要分類以及業(yè)務(wù)占比,同時(shí)也提出了我國金融控股公司多元化經(jīng)營的特點(diǎn)主要在金融控股公司多元化經(jīng)營優(yōu)勢(shì)不明顯,金融控股公司經(jīng)營管理效率低。 第三部分分析了我國金融控股公司多元化經(jīng)營財(cái)務(wù)風(fēng)險(xiǎn)管理存在的問題,包括自有多元化經(jīng)營融資結(jié)構(gòu)不合理,財(cái)務(wù)杠桿失衡；子公司自有資本不足,償債能力不強(qiáng)；多元化經(jīng)營財(cái)務(wù)協(xié)同效率差,資金回報(bào)率不高；子公司之間資金運(yùn)營財(cái)務(wù)風(fēng)險(xiǎn)易擴(kuò)大幾個(gè)方面,從以上五個(gè)方面進(jìn)行單獨(dú)闡述。 第四部分分析了我國金融控股公司多元化經(jīng)營財(cái)務(wù)風(fēng)險(xiǎn)產(chǎn)生的原因,包括金融控股公司缺乏多元化經(jīng)營財(cái)務(wù)風(fēng)險(xiǎn)控制意識(shí)；金融控股公司層層控股,財(cái)務(wù)治理結(jié)構(gòu)失衡；金融控股公司多元化經(jīng)營財(cái)務(wù)風(fēng)險(xiǎn)控制機(jī)制不完善,從風(fēng)險(xiǎn)識(shí)別缺乏科學(xué)性,缺乏“防火墻”風(fēng)險(xiǎn)控制,財(cái)務(wù)風(fēng)險(xiǎn)信息反饋系統(tǒng)不完善進(jìn)行了詳細(xì)論述；當(dāng)然財(cái)務(wù)監(jiān)管缺失也是原因之所在。 第五部分是國外金融控股公司財(cái)務(wù)風(fēng)險(xiǎn)控制的經(jīng)驗(yàn)借鑒。通過對(duì)瑞士信貸集團(tuán)和日本瑞穗集團(tuán)分析,以及對(duì)國內(nèi)“德隆”金融控股公司失敗案例的分析得出經(jīng)驗(yàn)借鑒,諸如加強(qiáng)內(nèi)部協(xié)調(diào),提高財(cái)務(wù)風(fēng)險(xiǎn)管理效率；樹立全面的風(fēng)險(xiǎn)管理意識(shí)；完善以內(nèi)部審計(jì)為核心的風(fēng)險(xiǎn)監(jiān)管機(jī)制 第六部分針對(duì)我國金融控股公司多元化經(jīng)營的各種風(fēng)險(xiǎn)因子,提出了我國金融控股公司多元化經(jīng)營財(cái)務(wù)風(fēng)險(xiǎn)管理的對(duì)策,包括增強(qiáng)多元化經(jīng)營財(cái)務(wù)風(fēng)險(xiǎn)管理意識(shí),創(chuàng)新風(fēng)險(xiǎn)管理模式；完善財(cái)務(wù)治理結(jié)構(gòu),明確多元化經(jīng)營風(fēng)險(xiǎn)管理職責(zé)；完善財(cái)務(wù)風(fēng)險(xiǎn)控制機(jī)制(度量體系建立識(shí)別財(cái)務(wù)風(fēng)險(xiǎn),建立“防火墻”抵御風(fēng)險(xiǎn),完善財(cái)務(wù)風(fēng)險(xiǎn)信息預(yù)警及時(shí)發(fā)現(xiàn)風(fēng)險(xiǎn))；完善金融控股公司多元化經(jīng)營的財(cái)務(wù)風(fēng)險(xiǎn)內(nèi)外部監(jiān)控體系和激勵(lì)約束制度上具體提出相應(yīng)對(duì)策。
[Abstract]:Financial holding company is a new organizational form which appears with the process of economic globalization and financial globalization, and it is also the main way for financial institutions to improve their competitiveness. At present, there are different forms of financial holding companies in China. The theoretical circles have reached a consensus that financial holding companies are the dominant form of comprehensive operation in China, and the Central Committee of the Communist Party of China put forward for the first time in the "Eleventh Five-Year Plan Proposal" to steadily promote financial integration. The pilot joint venture indicates that China's financial industry will realize a major transformation from separate operation to comprehensive operation. It can be predicted that the wave of the formation of China's financial holding companies will intensify. Because the internal governance structure of financial holding companies is different from that of general companies, the ways and methods of risk control are different from those of general companies, especially financial risks. Fundamentally speaking, the bankruptcy of the financial holding group represented by the financial holding group lacks the control and prevention of the internal financial risk of the financial holding company according to its unique characteristics. The risk management system of financial holding companies with Chinese characteristics will contribute to the stable development of China's finance. In order to promote the development of China's financial holding companies and improve their internal governance, it is urgent to put the risk management and control capabilities in the important position of management, establish an all-round risk management and control mechanism, and improve the supervision of managers. Supervise the system, put an end to the phenomenon of "insider control", and establish an executive incentive system linked to the interests of all stakeholders.
The main body of the paper is divided into six parts. The first part mainly expounds the financial risk theory of financial holding company diversification, including the definition and type of financial holding company, the definition of financial holding company diversification, and the related definition of financial risk.
The second part mainly expounds the present situation of diversification of financial holding companies in China, analyzes the main classification and business proportion of financial holding companies in China, and points out that the main characteristics of diversification of financial holding companies in China are that the advantages of diversification of financial holding companies are not obvious and financial control is not obvious. The management efficiency of stock companies is low.
The third part analyzes the problems of financial risk management in the diversified operation of China's financial holding companies, including unreasonable self-diversified financing structure, imbalance of financial leverage; insufficient subsidiary capital, weak solvency; poor financial synergy efficiency in diversified operation, low return on capital; capital transportation between subsidiaries; The financial risk of the camp is easy to expand, and it is expounded separately from the above five aspects.
The fourth part analyzes the causes of the financial risks in the diversification of financial holding companies in China, including the lack of awareness of financial risk control in the diversification of financial holding companies; the imbalance of financial governance structure in the multi-level holding of financial holding companies; the imperfection of financial risk control mechanism in the diversification of financial holding companies, and the risk awareness. Do not lack of scientific, lack of "firewall" risk control, financial risk information feedback system imperfect detailed exposition; of course, the lack of financial supervision is also the reason.
The fifth part is the experience of financial risk control of foreign financial holding companies. Through the analysis of Credit Suisse Group and Mizuho Group of Japan, and the failure cases of domestic "Delong" financial holding companies, we can draw lessons from the experience, such as strengthening internal coordination, improving the efficiency of financial risk management, establishing a comprehensive risk management. Consciousness; perfect the risk supervision mechanism with internal audit as the core.
In the sixth part, aiming at the various risk factors of diversified operation of financial holding companies in China, the paper puts forward the Countermeasures of financial risk management of diversified operation of financial holding companies in China, including strengthening the awareness of financial risk management in diversified operation, innovating the risk management mode, improving the financial governance structure and clarifying the responsibility of risk management in diversified operation. To improve the financial risk control mechanism (measurement system to establish identification of financial risks, establish a "firewall" to resist risks, improve financial risk information early warning and timely discovery of risks); to improve the financial holding company diversification of financial risk internal and external monitoring system and incentive and restraint system put forward specific countermeasures.
【學(xué)位授予單位】：江西財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F830.42

【引證文獻(xiàn)】

相關(guān)碩士學(xué)位論文 前1條

1 曾銘宇;金融控股公司關(guān)聯(lián)交易的法律規(guī)制[D];湖南師范大學(xué);2013年

，

本文編號(hào)：2192913