证券市场导报
證券市場導報
증권시장도보
Securities Market Herald
2013年
7期
11~16
,共null页
投行业务创新 高盛 投行客户服务部
投行業務創新 高盛 投行客戶服務部
투행업무창신 고성 투행객호복무부
IB business innovation, goldman sachs, IB customer service department
长期被一级市场关注的IPO已远离了“大单”时代，种种迹象表明，券商投行未来的发展趋势将是向股权融资、债券融资、并购重组等业务上都具备实力的综合投行服务商发展。文章以海外标杆投行一一高盛为例，探索其迅速适应市场变化的业务模式转型路径和具体投行业务结构，对其业务变迁和服务流程进行详细梳理，总结出了高盛投行的经营特征和成功之道，旨在从海外投行适应业务大转型的历史变迁分析中，寻找适合本土市场环境的投行业务转型与创新之借鉴经验。
長期被一級市場關註的IPO已遠離瞭“大單”時代，種種跡象錶明，券商投行未來的髮展趨勢將是嚮股權融資、債券融資、併購重組等業務上都具備實力的綜閤投行服務商髮展。文章以海外標桿投行一一高盛為例，探索其迅速適應市場變化的業務模式轉型路徑和具體投行業務結構，對其業務變遷和服務流程進行詳細梳理，總結齣瞭高盛投行的經營特徵和成功之道，旨在從海外投行適應業務大轉型的歷史變遷分析中，尋找適閤本土市場環境的投行業務轉型與創新之藉鑒經驗。
장기피일급시장관주적IPO이원리료“대단”시대，충충적상표명，권상투행미래적발전추세장시향고권융자、채권융자、병구중조등업무상도구비실력적종합투행복무상발전。문장이해외표간투행일일고성위례，탐색기신속괄응시장변화적업무모식전형로경화구체투행업무결구，대기업무변천화복무류정진행상세소리，총결출료고성투행적경영특정화성공지도，지재종해외투행괄응업무대전형적역사변천분석중，심조괄합본토시장배경적투행업무전형여창신지차감경험。
IPO business has been away from the massive deal era. It has shown that the growing tendency of securities companies＇ IB business would be transformed into the comprehensive banking service which includes equity financing, debt financing, M＆A and etc. This paper explores Goldman Sachs＇s business model transformation path and particular IB business structure, analyzes its business transition and service procedure, and sumrnarizes its operating characteristics and successful experience. With the experience of overseas IB historical transformation analysis, we aim to find IB business transformation and innovation method which is suitable for China＇s market enviromnent.
