Global Perspective on Financial Conglomerate Phenomenon: Multi-dimensional Analysis: Multi-dimensional Analysis

Author: Wang Guogang
Publisher:
Publish Date: 2006-09-01
Features: The book "Financial Convergence in a Global Perspective: Multidimensional Analysis" explores the mechanisms and institutional relationships between finance, financial separation, and financial convergence. It analyzes the relationship between diversification and specialization in the operation of financial institutions, the connection between the diversity of financial organizational structures and governance mechanisms, the relationship between convergence operations and financial holding companies, and financial supervision under convergence conditions. Finally, based on the lessons learned from China's practical experience, it proposes a series of policy recommendations to advance financial reform. The modern financial system is a capital market-based system dominated by commercial banks. Compared to the traditional financial system centered on commercial banks, the main differences are three: First, the role of commercial banks in the financial system shifts from "main" to "dominant." Second, the capital market becomes the foundational platform for financial operations, and without this foundation, the operations of financial institutions will be difficult to fully carry out. Third, in capital market-based financial operations, commercial banks play a dominant role, with many product innovations, trading innovations, and market innovations being developed under their leadership. This understanding serves as the basic foundation for further in-depth exploration of financial convergence operations and the intrinsic mechanisms of establishing a multi-tiered capital market system.