论金融控股公司的经营模式与金融监管
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摘要
金融控股公司的发展与世界各国金融业的分业混业选择紧密相连，金融业由分业向混业发展的趋势促进了金融控股公司的发展，同样，金融业分业与混业研究也蕴含着对金融控股公司的研究。
金融控股公司发展的初期模式为银行控股公司，它是美国金融业为绕开管制而进行的一种组织创新。随着经济全球化和金融国际化的不断加深，美国和欧洲等国的金融机构一直在国际范围内激烈竞争，由此形成了金融控股公司的不同经营模式。而在中国，由于历史等原因，在我国分业经营、分业管理的金融法律框架下存在着以三大国有商业银行、信托投资公司、保险公司及集团公司为核心组成的金融控股公司模式，对于他们，应在坚持市场原则的基础上进行多样化的探索；对于不规范的金融控股公司，应进行规范化改造和完善。
金融控股公司由于跨行业、跨地区经营，所以就成为金融业风险的聚合处和汇聚点，金融控股公司通常存在着系统性风险、内幕交易风险和利益冲突、资本金重复计算及财务杠杆比率过高、会计制度不同带来的财务信息披露等风险。
西方国家在由分业经营迈向混业经营过程中，积累了丰富的金融监管经验，具体到中国而言，应树立功能监管的理念，在监管体制上，分步骤建立统一监管体制，同时进一步完善对金融控股公司风险控制的监管。
The development of financial holding company(FHC) is closely link to the choice of segregated and mixed operation of the financial industries of all the country in the world. The trendcy from segregated to mixed operation promotes to the development of FHC. Equally, the study on the segregated and mixed operation also contains the study on the FHC.
The initial mode of FHC is BHC, it is a kind of structure innovation that the American financial industries getting out of financial supervision. With the intensification of globalization and internationalized constantly, the keen competition at the international level is carrying on, such as USA and Europe, etc. Thus, form different operation mode of FHC. While in China, because of historical factor etc, there are four kinds of operation modes, such as commercial bank, trust investment company, insurance company etc. To them, should carry on diversified exploration on the basis of insisting on the market principle. To those irregular FHC, should carry on the standardized transformation and to make them perfect.
Because FHC operates in several fields, so it is full of financial risks. The risk of FHC consist of systematic, inside story, benefit conflict, capital repeated calculation etc.
The western countries have accumulated abundant financial supervision experience in the course of segregated operation towarding to mixed operation. As concerned as China, should established function supervision idea, on supervision system, set up unified supervision system step by step, perfect the supervision of financial risk control of FHC.
金融控股公司发展的初期模式为银行控股公司，它是美国金融业为绕开管制而进行的一种组织创新。随着经济全球化和金融国际化的不断加深，美国和欧洲等国的金融机构一直在国际范围内激烈竞争，由此形成了金融控股公司的不同经营模式。而在中国，由于历史等原因，在我国分业经营、分业管理的金融法律框架下存在着以三大国有商业银行、信托投资公司、保险公司及集团公司为核心组成的金融控股公司模式，对于他们，应在坚持市场原则的基础上进行多样化的探索；对于不规范的金融控股公司，应进行规范化改造和完善。
金融控股公司由于跨行业、跨地区经营，所以就成为金融业风险的聚合处和汇聚点，金融控股公司通常存在着系统性风险、内幕交易风险和利益冲突、资本金重复计算及财务杠杆比率过高、会计制度不同带来的财务信息披露等风险。
西方国家在由分业经营迈向混业经营过程中，积累了丰富的金融监管经验，具体到中国而言，应树立功能监管的理念，在监管体制上，分步骤建立统一监管体制，同时进一步完善对金融控股公司风险控制的监管。
The development of financial holding company(FHC) is closely link to the choice of segregated and mixed operation of the financial industries of all the country in the world. The trendcy from segregated to mixed operation promotes to the development of FHC. Equally, the study on the segregated and mixed operation also contains the study on the FHC.
The initial mode of FHC is BHC, it is a kind of structure innovation that the American financial industries getting out of financial supervision. With the intensification of globalization and internationalized constantly, the keen competition at the international level is carrying on, such as USA and Europe, etc. Thus, form different operation mode of FHC. While in China, because of historical factor etc, there are four kinds of operation modes, such as commercial bank, trust investment company, insurance company etc. To them, should carry on diversified exploration on the basis of insisting on the market principle. To those irregular FHC, should carry on the standardized transformation and to make them perfect.
Because FHC operates in several fields, so it is full of financial risks. The risk of FHC consist of systematic, inside story, benefit conflict, capital repeated calculation etc.
The western countries have accumulated abundant financial supervision experience in the course of segregated operation towarding to mixed operation. As concerned as China, should established function supervision idea, on supervision system, set up unified supervision system step by step, perfect the supervision of financial risk control of FHC.
引文
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