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A short course of lectures
«Chinese securities companies»

Specifying the Rights and Responsibilities between the Sponsor and the Issuer Basic Functions of Securities Companies in the Financial System Risk Management in Securities Companies Post Financial CrisisTougher Penalties for Law-Breaching SponsorsOrganization and Management in Investment Banks: Continental Europe, the United States, and Japan Analysis of the Status Quo of Risk Management in Chinese Securities CompaniesThe Meaning of Strategic Risk ManagementRisk-Management Architecture Empirical Tests and ResultsCHARACTERISTICS OF THE PROFITABILITY MODEL OF SECURITIES COMPANIESInternal Logic for Organizational and Management Evolution in Chinese Securities FirmsFuture Development and Reform Focuses of Chinese Securities Companies—General PrincipleAnalysis of the Annual Frequency of Punishments against SponsorsDiversified Business Categorization Requires the Leadership of the Company to Play a Leading Role in a Series of Human Resources Decisions Innovation in Traditional BusinessInnovation-Powered Business Growth: Two TransformationsMessages in Terms of Corporate Governance and Internal ControlGeneral Analysis of Business Structures of Investment Banks in the United StatesA Transition from Channels to ServicesImproving Understanding of Internal Control Systems Regulators Should Provide Necessary Protection of Private Securities Firms' Rights and Interests on the Principle of Fair and Equitable Treatment ANALYSIS OF PUNISHMENTS IMPOSED BY THE CSRC ON RULE-BREACHING SPONSORSProfit Methods of the Securities Company MANAGEMENT OF RISKS ASSOCIATED WITH INNOVATIVE BUSINESS OF SECURITIES COMPANIESCORE COMPETITIVE EDGEBusiness Model B Raise the Capital Scale of Securities Companies Sponsor Duty System Soochow Securities—Brokerage Supplemented with Investment Banking, Firm Regional Foothold, and Nationwide ExplorationDEMAND FOR TALENTS IN THE DEVELOPMENT OF THE SECURITIES INDUSTRYDifferentiated Marketing THEORETICAL ANALYSIS OF PROFITABILITY MODELSSponsor Structure Promoting Restructuring and M&A Services DIRECTION FOR SPONSOR SYSTEM REFORMLow-Profile Reverse Takeover Deal-Making Wealth Manager Modern Financial Holding Companies Operational Risks The Term of Sponsors Signs of a Transition in the Profitability ModelCultivation and Growth of Innovative BusinessAmbiguous Rights and Responsibilities among the Sponsor, the Issuer, the Regulator, and Other Intermediary InstitutionsAsset Management Business—Product Innovation Strongly Enhanced the Development of Transparency in the Capital Market THEORETICAL ANALYSIS OF FINANCIAL FUNCTIONALITY Ambiguous Rights and Responsibilities between the Sponsor Institution and Other Intermediary Institutions. Experience and Lessons from International Investment Banks (Securities Companies) in Mature MarketsWanguo Securities: A Story about a Broken DreamEquity Structure Securities Margin Trading BusinessInvestment Research Talent Industrial Securities: Robust ManagementThe Preliminary Phase of Chinese Securities Companies—1987 to 1995Compliance Risks Chartered Financial Analysts (CFA) Providing and Implementing Suggestions Financial Holding Companies: The Best Model for Large Investment Banks in the Tendency toward IntegrationStrengthening Regulation on Derivatives Development Trend of Human Resource Management in Securities Companies in the FutureAnalysis of the Management Model of Chinese Securities CompaniesRegulatory Framework for Financial Asset Management Company-Based Financial Holding Model Analysis of Sponsor Regime for Chinese Securities CompaniesInvestment Banks in the Financial System: Definition and Functional OrientationAsset Securitization CapabilitiesThe Main Driving Force of an Emerging International Financial Center in ChinaDevelopment Paths of Overseas Investment Banks as Inspirations for ChinaPost-1980 Tendency and the Latest Developments of Organization and Management in Investment Banks around the World Internal Incentives for Market Evolution of China's Financial StructureAmbiguous Rights and Responsibilities for the Sponsor Representative and the SponsorAttaching Importance to the Effect of Culture on Internal Control Lessons COMPARATIVE ADVANTAGES AND DISADVANTAGES OF WEALTH MANAGEMENT TALENT IN THE SECURITIES INDUSTRYStrategic Risks and Risk-Management Strategies of Securities CompaniesEvolutionary History and Structural Patterns of Investment Banks in JapanInformation Management Particularities of Securities Issuance and TradingHigh Personnel Mobility Becomes a Double-Edge Sword in Human Resource ManagementPost Purge Institutional Environment for Risk Management in Securities CompaniesTeam Building Should Be Conducted in a Coordinated WaySOME IDEAS OF OVERALL POLICY FOR FUTURE ORGANIZATIONAL AND MANAGEMENT TRANSFORMATION IN CHINESE SECURITIES FIRMSWhat Can China Learn from Overseas Investment Bank Regulation SystemsFunctions of information Marketplaces and Securities FirmsAnalysis of Risk Management in Chinese Securities CompaniesThird-Party Wealth Management Companies Differentiation of Profitability Models among Securities Traders as Larger Ones Become More Weil-Rounded and InternationalizedMisappropriation of Clients' Security Deposits by Securities Firms and the Industry-wide CrisisInternational Finance-Related Services Management of Risks Associated with Brokerage BusinessU.S. Investment Bank Business Structure Case Study: Merrill LynchRisks Associated with the Direct Investment BusinessThe Quick Startup Phase—1990 to 1995 Review and Judgment of Historical Roles of Chinese Securities CompaniesU.S. Investment Bank Business Structure Case Study: Morgan StanleyThe Investment Bank Regulation System in the United StatesRisk Management for the Direct Investment BusinessORGANIZATION AND MANAGEMENT IN CHINESE SECURITIES FIRMS: A HISTORICAL AND THEORETICAL REVIEWThe U.K. Alternative Investment Market (AIM): Lifelong Sponsor System Theoretical Frameworks for Human Resource Management in Securities CompaniesThe Merrill Lynch Model Theoretical and Practical Judgment Based on Functions of Securities CompaniesAcknowledgmentsThe Effect of Location on the Profitability StructureSecurities Proprietary Business Risk ManagementHistory Wealth ManagerAn Empirical Study of the Function of a Securities Underwriter's GoodwillAnalysis of Problems in Risk Management of U.S. Investment Banks during the Financial CrisisMANAGEMENT OF RISKS ASSOCIATED WITH TRADITIONAL BUSINESS OF CHINESE SECURITIES COMPANIESEFFECTIVE TALENT MANAGEMENT IN SECURITIES COMPANIESHeterogeneous Financial Conglomerates (HFC) Well-Rounded Organizational Structure for Risk Management The Case of HepalinkHistory Advanced Risk-Management Concepts Concurrence of Separation and Crossover (Since 2000) Major Sources of Risks in Investment Banking BusinessEvolutionary History and Structural Patterns of Investment Banks in the United KingdomThe Impairment of Insider Trading on Market Accountability and Investor Interests Core Competitive Strength of Securities CompaniesAnalysis of Sponsor Institution and Representative Credit Regulation by Regulatory MeasuresInternal Environment Strict Separation Of Activities (1995-1999) Messages in Terms of RegulationORGANIZATION AND MANAGEMENT IN INVESTMENT RANKS: A GENERAL ANALYSIS RASED ON INSTITUTIONAL RANKING AND FUNCTIONAL RANKINGSpecifying the Rights and Responsibilities between the Sponsor Representative and the Sponsor Institution Sources of Risks in Stock Index Futures BusinessHypothesis and SamplingDevelopment of Both Wholly Owned and Equity-Controlled Business; Taking Root in Beijing, Guangdong, Shanghai, Zhejiang, and Shandong; Brokerage Accounting for Half of the RevenuesPROFIT METHODS OF THE MAIN BUSINESS OF SECURITIES COMPANIESSponsor Qualifications Differentiated Market Positioning Lessons The Malaysia MESDAQ Market: Relay Sponsor System Early Glory Strategy Is Vital to Success Proprietary Business Interdisciplinary TalentMore Severe Punishment Needed for Breaching SponsorsCompliance Generates Power for the Sustainable Development Mechanism CONSTRUCTION OF NEW PROFITABILITY MODELSManagement of Risks Associated with the Brokerage Business of Securities CompaniesThe Coup Changes of GDP and Disposal Income Per CapitaAn Innovator in Financial ProductsThe Case of Suzhou Hengjiu Photo-ElectronicHistorical Performance of the Function of Goodwill Undermotivated Innovation and Underdeveloped Competitiveness of Securities Companies Restructuring Existing Brokerage Services and Placing Broker Services at the Core Specifying the Rights and Responsibilities between the Sponsor Institution and Other Intermediary Agencies Administration and Rectification Phase, 2001 to 2005Factors Affecting the Profit Model of a Securities CompanyThe CICC: Going UpscaleFour Factors Determining the Competitive Edge of Securities CompaniesSetting Internal Control Objectives in a Dynamic Way for Different Periods of Time Emphasize Corporate Culture, Avoid "Lone Wolf" Approaches Resource Input Analysis Solid Evaluation and Incentive Mechanisms Are NeededSponsor Regimes in Overseas Securities MarketThe Citigroup Model Risk-Management MethodsSenior Managers Some Experience Gained from Undergoing Pilot Programs of the Financial Holding Model and Integration Of Activities Securities Regulation System Further Streamlined How Securities Firms Function: Information Network, Reputation Management, and Tacit SkillsManagement of Risks Associated with Securities Margin Trading Business of Securities CompaniesANALYSIS OF THE INTERNAL CONTROL OF INVESTMENT BANKS IN MATURE INTERNATIONAL MARKETSGF Securities: A Success Story of an Ordinary Unprivileged BusinessBoosted Development of a Financial System Anchored on the Securities Market Selection of Landing Site for Financial Holding Model Historical DataOverall Profitability StructureBusiness Model AInstitutional ChangeProfessional TalentThe Irreversible Trend of Economic and Financial Globalization Active Contributions to Activating Idle Social Assets and Improving Overall Operational Quality of National Economy Taking Full Advantage of Advanced Risk-Management Techniques without Relying Too Much on Them Financial Globalization Gets Chinese Securities Firms Involved Information Communication Internal FactorsEffective Risk-Management System and Mechanism Evolution PredictionAbout CITIC Securities Evolutionary History and Structural Patterns of Investment Banks in GermanyThe Infancy Phase—1987 to 1990 Information Plays an Essential Role in Business Competition Sponsor Representative Regulators Should Also Create Conditions for the Growth of Private Securities Firms What China Can Learn from the Business Structures of American Investment BanksManagement of Risks Associated with the Direct Investment Business of Securities CompaniesFinancial Risks Sources of Risks Facing Securities CompaniesMessages in Terms of Organizational StructureDEVELOPMENT TREND AND CORE COMPETITIVE STRENGTH IN THE SECURITIES INDUSTRYSponsor Competence StandardizationA Global Perspective Of Capital Markets Management of Risks Associated with Asset Management Business of Securities CompaniesMajor Sources of Risks in the Brokerage Business Capabilities in M&A and Reorganization of Resources AvailableAccelerate the Concentration of Capital for Business Growth and ExpansionANALYSIS OF BUSINESS STRUCTURES OF INVESTMENT BANKS IN MATURE INTERNATIONAL MARKETSWealth Management CapabilitiesAnalysis of the Profit Model of Chinese Securities CompaniesThe U.S. NASDAQ Market: Assorted Sponsor System Identifying Potential Problems Stock Index Futures Chinese Depository System ReformCultivating Core Business, Launching Differentiated Services and Specialty Services NOTE FROM THE AUTHORAttaching Importance to Risk Identification and Response While Setting Strategic Goals for Internal Control INSTITUTIONAL CHANGE AND FUNCTIONAL EVOLUTION FOR CHINESE SECURITIES FIRMS—AN ANALYSIS WITH PARTICULAR INTEREST IN THE FUNCTION OF AN UNDERWRITER'S GOODWILLCriteria for an Ideal Future Management Model for Chinese Securities Firms: Factors Within FirmsManagement of Risks Associated with Asset Management Business of Securities CompaniesProduct Pricing Strengthening Regulation on the Securities Market, Especially the OTC Market ORIGIN AND DEVELOPMENT OF THE SPONSOR REGIME IN CHINAWhat China Can Learn From Internal Control of Investment Banks in Mature International MarketsU.S. Investment Bank Business Structure Case Study: Goldman SachsContents of the Wealth Management BusinessPrefaceTHE EVOLUTION OF CHINESE FINANCIAL STRUCTURE IN THE FUTUREManagement of Risks Associated with Research and Investment Consultancy Business CITIC Securities—Equal Importance to Tradition and Innovation, Firm Foothold in China, and Aggressive Exploration OverseasFinancial Market Service ProvidersComparison of the Sponsor Systems of Various CountriesManagement of Risks Associated with Investment Banking Business of Securities CompaniesInvestment Banking Business—Transitioning toward Equal Importance for Securities Issuance and Financial Consultancy Ambiguous Rights and Responsibilities between the Sponsor and the Regulator Exploring New Business Models in Asset Management Services Core Points of ViewBrokerage Commission Business Some Puzzling Aspects of This Reverse Takeover DealFunctional Orientation of Investment Banks Analysis of the Market Boards of Breaching SponsorsSOME DIRECTIONS FOR THE FUTURE DEVELOPMENT OF CHINESE SECURITIES FIRMSAbout the CICC Quantitative Analysis of Talent Demand Creating a Harmonious Financial Investment Culture for a Mutually Beneficial OutcomeU.S. Investment Bank Business Structure Case Study: Lehman BrothersFinancial Holding Companies Are the Best Choice for Large Chinese Investment Banks, Subject to the Constraints of the Current Financial SystemThe Prevailing "Buyer's Market" of Talent Is Forcing Securities Companies to Make Breakthroughs in Their Talent Recruitment Techniques Management of Risks Associated with Proprietary Business of Securities CompaniesA Case Study of Misappropriation of Client Security Deposits by Chinese Securities Firms External Factors Differentiation of Business Regions CHANGE OF THE CHINESE DEPOSITORY SYSTEM FOR SECURITY DEPOSITS AND HOW CHINESE SECURITIES FIRMS FUNCTIONCASE STUDIESManagement of Risks Associated with Securities Margin TradingFocusing on the Cultivation of Financial Holding Companies in Keeping with the Trend Of the Time Major Sources Risks in Securities Proprietary Business Control Activities Market Risks The Five Factors of Internal ControlSupervision Guaranteed Market Liquidity OVERVIEW OF THE DEVELOPMENT HISTORY OF INVESTMENT BANKS IN THE MATURE OVERSEAS MARKETHaitong Securities: A Shady DealUnreasonable Sources of Income for SponsorsRisk AllocatorOperations and Oversight Based on Separation of Activities and the Financial Holding ModelImproving Stock Issuance Pricing System and Securities Market Litigation SystemRisk Management in Chinese Securities CompaniesFunctional Evolution—An Analysis with Particular Interest to the Function of an Underwriter's GoodwillWhat China Can Learn from the Organizational Structures of Investment Banks in Mature International MarketsBusiness Growth Is Driven by Innovation Specifying the Rights and Responsibilities of the Sponsor, the Issuer, and the RegulatorCharacteristics of Securities Company HR Management Determined by the IndustryEvolutionary History and Structural Patterns of Investment Banks in the United StatesPunishment for Rule-Breaching SponsorsProfit Structure of the Securities Company Tunneling Caused by Direct Investments and IPOs Lessons Major Categories Of Risks Family Business and Partnership Evaluating the Overall Financial Condition of the Individual at Present Recommending Possible Solutions Transform Business ModelsBoard of Supervisors and the Management Profit Growth Points Brought about by Innovative BusinessTreasury Bond Incident Independent Securities Firms Must Find Their Competitive Advantage over Financial Holding Company-Controlled Securities Firms by Differentiation SELECTION OF MODELS (GOALS) FOR CHANGE OF ORGANIZATION AND MANAGEMENT IN CHINESE SECURITIES FIRMSREVIEW OF THE PROS AND CONS OF CHINESE SECURITIES COMPANIESThe Hong Kong Growth Enterprise Market: A System of Decomposed Sponsor Roles Quantitative Risk-Management Method High-Caliber Personnel Wealth Management Talent Environment AnalysisThe Promoters of Change in the Chinese Financial SystemCASE STUDIES: TYPICAL CHINESE SECURITIES FIRMS Optimizing Governance Structures and Improving Operation Efficiency of Securities Companies Promoted the Creation of Diverse Social Assets and Expanded Citizens' Investment Options The Policy Orientation to Classification-Based Market Access and Oversight Greatly Supports Independent Securities Firms in Diversification ChannelizedHISTORIC CONTRIBUTIONS OF CHINESE SECURITIES FIRMSInvestment Bank Regulation System in the United KingdomIncompetence of SponsorsOrganization and Management in Investment Banks: A Global PerspectivePROFITABILITY STRUCTURES OF CHINESE SECURITIES COMPANIESFacilitating Stock Reforms of State-Owned Companies and Improving Quality of Corporate OperationsMixed Companies About the AuthorMissteps of Chinese Securities Firms and Lessons LearnedPrimary Crossover (1987-1994) Lessons Risk Assessment Specifying the Rights and Responsibilities between the Sponsor and the Regulator The Impact of Securities Firms as Public Companies Determinants of Organization and Management Analysis of Traditional BusinessFarsighted Development Strategy and Efficient Capital Operation Preliminary Formation of a Separated Regulation Model in the Securities Industry Risk Management of Investment BanksPublicly Held Companies Appeal to Upscale Clients Growth Traits of Securities Companies INTRINSIC FLAW OF THE SPONSOR SYSTEM: IMBALANCE BETWEEN PROFIT AND RISKFunctional Requirements for Wealth Management Service PersonnelDifferentiated Products and Services Sources of Risks in Asset Management BusinessRisk Management Change of Activities and in Organization and Management in the Chinese Securities FirmsThe General Growth Trend of the Chinese Economy Going ForwardAnalysis of Functions of Chinese Securities CompaniesRisk Management of Overseas Securities CompaniesProduct Une Analysis Supervising the Wealth Management Plan RULE BREAKING SPONSOR—CASE STUDIESAnalysis of Risks Associated with Securities Margin TradingConsolidating Securities Underwriting Services Functional Divisions Criteria for an Ideal Future Management Model for Chinese Securities FirmsCITIC Securities: The Benchmark MakerInspirations Drawn from the Financial Crisis for the Risk Management of Securities CompaniesMarketization and Emerging Private Securities FirmsMessages in Terms of Business StructureFUNCTIONAL ORIENTATION FOR SECURITIES FIRMSSTATUS QUO AND TREND ANALYSIS OF RISK MANAGEMENT IN SECURITIES COMPANIESNumber of Securities Companies Stabilized, Industry Competition Sharply Increased How the Function of Goodwill Is Shaped Expediting Financial Legislation and Improving the Legal Environment for Securities Companies Proprietary Business—Actively Taking Part in Market Transactions Promote Differentiation-Based Management and CompetitionThe Effect of an Enterprise's Scale on Its Profitability Structure Ambiguous Rights and Responsibilities between the Sponsor and the Issuer UniformityNormalized Development Phase, 2005 to 2011Create an International VisionTHE BIRTH AND GROWTH OF CHINESE SECURITIES COMPANIES—A BRIEF HISTORYGlobal Investors' Services Development Trends of Securities CompaniesLiquidity Risks The Chinese Mainland Stock Markets: From Quota Management to Sponsor SystemClassified Oversight and the Impact Brokerage Business—Specialized Operation Service Capability Analysis Lessons Client Group Analysis Active Innovation in Business Varieties Financial Holding Companies: DefinitionANALYSIS OF INVESTMENT BANK REGULATION IN MATURE OVERSEAS MARKETSAnalysis of Innovative BusinessAppropriately Spreading Out Equity and Enhancing the Foundation of Internal ControlInvestment Banks: A Brief Survey from the Perspective of Separation of Activities Background and Significance of Studies on Securities Company Profitability ModelsCategorization of International Investment Bank Regulation SystemsOrganizational Forms of Investment Banks in Mature International MarketsImproving Risk-Management Architecture, Making SOME PRIORITIES OF FUTURE REFORM IN CHINESE SECURITIES FIRMSManagement of Risks Associated with Stock Index Future BusinessDirect Investment Management of Risks Associated with Research and Investment Consultancy Business of Securities CompaniesIdentifying Their Purposes and Goals Varying Service Capabilities and Overall Need for Improvement Regulators Should Establish a Sound Regulatory Policy Framework for Private Securities Firms Analysis on Structure and Competitiveness of Talent in Chinese Securities CompaniesPan-Banking CharacteristicsInvestment Banking Business Profitability Model Needs to Be Clearly DefinedManagement of Risks Associated with Investment Banking Business of Securities CompaniesWHAT CHINA CAN LEARN FROM THE DEVELOPMENT OF INVESTMENT BANKS IN MATURE INTERNATIONAL MARKETSAsset Management Business Rapidly Expanding Stock Market Profitability Of Securities Firms Enhanced Hard-Earned Success Tying Profit to Duties Performed by a SponsorThe Structure of the Board of Directors ANALYSIS OF THE ORGANIZATIONAL STRUCTURES OF INVESTMENT BANKS IN MATURE INTERNATIONAL MARKETSGovernance Structures of Investment Banks in Mature International MarketsPolicy Risks The Meaning of Profitability Model for a Securities CompanyMarketing Service Management Talent The Fast-Development Phase of Chinese Securities Companies, 1996 to 2001Jun'an Securities: The Fall of a StarHow International Demand Gives Rise to Internationalized Vision and Raises the Bar for Service Capability How to Effectively Draw on the Comparative Advantages of the Domestic Capital Market, Identify International Customers, and Raise Service Levels Multilevel, Diversified Independent Securities Firms
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