CAJ | 학술논문

次贷危机引发的全球金融危机使美国五大投资银行遭受巨大冲击,五大投行也因此最终走向破产或转型。本文从美国五大投资银行的财务报表出发,深入分析次贷危机爆发前后五大投行的业务结构和收入来源变化,从而能够揭示五大投行在危机中纷纷崩溃的原因,以此为中国资本市场特别是证券公司的稳健运营和发展提供有益的经验借鉴,具有十分重要的理论研究和现实指导意义。
차대위궤인발적전구금융위궤사미국오대투자은행조수거대충격,오대투행야인차최종주향파산혹전형。본문종미국오대투자은행적재무보표출발,심입분석차대위궤폭발전후오대투행적업무결구화수입래원변화,종이능구게시오대투행재위궤중분분붕궤적원인,이차위중국자본시장특별시증권공사적은건운영화발전제공유익적경험차감,구유십분중요적이론연구화현실지도의의。
The resumption of IPO and the opening of Second Bond make new vitality for the Chinese capital market,while the creation of warrants,repurchase,as well as a collection of financial and other emerging businesses of securities companies in China provided a broad space for business development. However,the global financial crisis triggered by the sub-prime crisis in the United States make five major investment banks suffered a great and go bankrupt. In this paper,it analysis the change in business structure and income sources of five investment banks based on their balance sheet. The inclusion can reveal why the five investment bank bankrupting in the crisis. It can provide available references to China＇s capital market,and it has great theoretical research and practical significance.