首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
What is merchant banking? Why does it grow rapidly in Hong Kong?
What is merchant banking? Why does it grow rapidly in Hong Kong?
admin
2011-01-15
141
问题
What is merchant banking? Why does it grow rapidly in Hong Kong?
选项
答案
Merchant banking: —providing financial advice and a wide range of special services for companies in the area of finance and management. —main functions in merchant banking: -act as both brokers and dealers in wide variety of securities; -provide research services and give consultancy services on all varieties of management problems; -money market instruments are traded; -underwrite the debt issue of government and manage the sale of corporate debt and stock; -serve as agents to handle the payment of dividends to shareholders; -handle mergers, acquisitions, interest rate Swaps, leveraged buyouts, and other fee-earning activities; -arrange or participate in syndicated lending/project financing; -provide advisory/underwriting services in IPO/placement. The reasons for the rapid growth of merchant banking in Hong Kong: —Institutionalization -Growing importance of institutional investors in the market place has provided a chance for the expansion of merchant banks. -Since 1990s, the main players of the stock market has shifted from individuals to the institutions. —Deregulation -Competition across borders becomes available as the relaxation of regulations in the US and some European states and the development of Euro-market. -Because of the capital limitation, individuals must seek for help from the merchant banks which have considerable scale in global operations. —Securitization and disintermediation -The change of the source of corporate financing from bank loans to merchant banks’ services has increased the development of merchant banking business. Many corporations like to seek financial arrangement through merchant banks. —Advanced technology -Since the communication ability has been intensified by the advanced technology, the information exchange among merchant bankers and other financial institutions becomes more vigorous. —Industrial organization restructuring -The environment for file growth of merchant banking has been created with the rapid restructuring of industrial organization, such as the breaking-down of conglomerates, introduction of leverage-buy-out, favorable acceptance of "junk" bond. —Globalization -From 1990s onwards, a global market has been laid down by the creation of the Euro-market and the increasing use of commercial papers and other financial instruments and the impetus for the growth of merchant banking business has been provided by this favorable conditions.
解析
转载请注明原文地址:https://kaotiyun.com/show/TCYd777K
0
中级(银行业务)
原金融专业英语(FECT)
金融英语(FECT)
相关试题推荐
MrsBrown’stelephonenumberwas476082,andthenumberofthecinemawas476028,sopeopleoftenmadeamistakeandtelephoneh
Cosmopolitancities(国际大都市)NewYork,Tokyo,Paris,andothercosmopolitancitiesareexcitingplacestolivein.Peoplefrom
Mr.Blackwasyoungandable.Thebosslikedhim.LastmonthhewassenttoChinaonbusiness.BeforehewentbackfromChina,h
Allnewproducts(产品)startasideas.Themanagerlooksatallthenewideas(41)putsdevelopmentmoneyinto(42)ofthem
TheyhavestudiedEnglishfor20years.TheybegantostudyEnglish_____.
TheCapitalAirportisthelargestoneinChina.TheCapitalAirportis______anyotherairportinChina.
CanRobertgetunsecuredloansifheappliesforashortperiodoftimeandforsmallervalue?
Ifthemarginalrateoftechnologicalsubstitution(MRTS)ismorethanthepriceratiooflaborovercapital(w/r),thentomini
Abridgingloanisaloanagreementunderwhichfinanceisrequiredinconnectionwiththesaleofoneassetandthepurchaseof
Securityisrequiredonloansforseveralreasons.Oneofthemostcommonisprobablytheborrower’sfinancialweakness.Suchwe
随机试题
()扒杆是长度为5~6m,直径为50.8mm或63.5mm的油管焊接成的脚蹬架,用双卡子固定在井口旁。
只有()才能保持物种之间的相互支持、形成合力、融合创新,在危机来临时有更多的选择。
CT空间分辨力衰退是由于
A、胶浆和滑石粉B、糖浆和滑石粉C、糖浆D、虫胶E、虫蜡片剂包糖衣时包隔离层应选用的辅料为()
下列合同中,属于买卖合同的是()。
甲与乙签订一房屋买卖合同,甲交付房屋、乙支付价金,但未到房屋管理部门登记。后甲将房屋转卖于丙并履行了登记手续,在丙未支付价金时,甲亦未将房屋腾空。丙起诉甲,要求交付房屋,甲反诉丙,请求法院宣判甲、丙合同无效。请提出你的意见并说明理由。
下列现象体现了需求规律的是( )。
把全部财政支出分为购买性支出和转移性支出的分类依据是()。
计算机网络的IP地址中,A类网址通常用于局域网。()
李东阳是某家用电器企业的战略规划人员,正在参与制订本年度的生产与营销计划。为此,他需要对上一年度不同产品的销售情况进行汇总和分析,从中提炼出有价值的信息。根据下列要求,帮助李东阳运用已有的原始数据完成上述分析工作。在“销售量汇总”工作表右侧创建一个新的
最新回复
(
0
)