金融治理视域下商业银行投行业务转型发展与创新规范

刘  昊1; 2

金融治理视域下商业银行投行业务转型发展与创新规范

引用本文：刘昊1,2.金融治理视域下商业银行投行业务转型发展与创新规范[J].财经理论与实践,2023,(2):9-16

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作者	单位
刘昊1,2	（1.南京大学长江产业经济研究院，江苏南京 210093；2.国家金融与发展实验室温州研究基地，浙江温州 325035）

中文摘要:基于金融服务实体经济、推进金融治理现代化的发展要求，通过对代表性商业银行年报遍历搜索和典型案例研究，考察商业银行投行业务发展最新实践，分析其转型发展存在的短板，提出其创新规范路径。结果发现：2018年资管新规发布后，发展债券承销、企业ABS等标准资产业务，以及转向表内并购融资成为商业银行投行业务发展的新趋势；在业务转型过程中，商业银行应着力提升投行业务战略经营能力、风险控制水平和服务实体经济能力。投行业务实践变化表明，资管新规有利于商业银行金融业务创新规范化和阳光化，促进和保持金融系统稳定，并发挥了去杠杆和调结构的正向作用，推动了金融治理能力提升和治理体系现代化。

中文关键词:商业银行投行业务资管新规金融治理

Transformative Development and Regulated Innovation of Investment Banking Business of Commercial Banks from the Perspective of Financial Governance

Abstract:Based on the development requirements of financial services serving the real economy and promoting the modernization of financial governance, this paper reviews the annual reports of representative commercial banks and studies typical cases, examines the latest practices in the development of investment banking business of commercial banks, analyzes the weaknesses in their transformation and development, and puts forward the path of innovation and regulation. The results show that the development of standard asset business such as bond underwriting and corporate ABS, and the shift to on-balance sheet M&A financing have become the new trends of investment banking business development of commercial banks since the release of new rules of asset management in 2018. In the process of investment banking business transformation, commercial banks should focus on improving the strategic operation ability, risk control level and the ability to serve the real economy. Changes in the practice of investment banking business show that the new rules of asset management are conducive to the standardization and sunshine of commercial banks’ financial business innovation, promote and maintain the stability of the financial system, play a positive role in deleveraging and structural adjustment, and promote the modernization of financial governance capacity and governance system.

keywords:commercial bank investment banking business new rules of asset management financial governance

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