比較研究中美投資銀行的資本結(jié)構(gòu)【外文翻譯】

1、外文題目：ComparativeResearchonCapitalStructureofSinoUSInvestmentBanks出處：BankofQingdao，PRChina作者：LIURuibo，ZHAIYinjia原文：ComparativeResearchonCapitalStructureofSinoUSInvestmentBanksAftermethan20yearsofdevelopmentChina’sinvestme

2、ntbankshavedemonstratedscaleeconomyacteristicstentativelytheconcentrationratioofcapitalmarketimprovesprogressivelyComparingthecapitalstructureofChina’sinvestmentbankswiththatoftheUSAs，wecanseethattheshareholders’equityli

3、abilitiesratioofourinvestmentbanksismuchhigherthantheAmericaninvestmentbanksofthesameperiod，whichindicatesthatthecapitalstructureofChina’sinvestmentbanksisstillunreasonable，theirfinancingabilityisstillnotstrongenoughThef

4、uturerefmisientedtoincreasethefinancingchannelsofinvestmentbanksincapitalsecuritiesmarket。topromotetheirabilityinassetsmanagementriskcontrolling1CapitalAccumulation：China’sInvestmentBanksHavePreliminarilyAppearedAfterabo

5、ut20yearsdevelopment，thequantityofChina’ssecuritiesfirmshaveincreased，thescaleofChina’sinvestmentbankshavebeenincreasinglyextended。Since1990，thequantityofChina’ssecuritiesfirmstheirbusinessdepartmentshaveended，whiletheto

6、talcapital，capitalretainedprofitsofinvestmentHighconcentrationratioisatypicalacteristicoffinancialsectfromthewldwideviewespeciallyininvestmentbanksBecausetheircapitalareintensivegreatindemaswellastheirbusinesshavehighlyh

7、omogeneitystardization，thedevelopmentofinvestmentbankshavemeremarkablescaleeconomyacteristics，whichhavealreadybeenverifiedbythepracticetheiesofwesterndevelopedcountriesrepresentedbytheUSduringthelastonehundredyears.Capit

8、alintensivenessisamainacteristicofinvestmentbanksAbundantcapitalcanhelptoresistrisks，atthesametimethecostdecreasecausedbyscale—effectwillbringinvestmentbankstogreatercompetitiveadvantageWeCallsaythatthescaleofcapitalhasd

9、irectlydeterminedthecompetitivenessofinvestmentbanksTab2Tab3describethecomprehensivecapitalstrengthofChina’StopteninvestmentbanksthefourmajinvestmentbanksoftheUSattheendof2006respectivelyComparingSino—USinvestmentbanks’c

10、apitalscaleinlateralwecanseethatcomparedwithinvestmentbanksonthematuredmarketsoffeigncountries，thecapitalassetsofChina’sinvestmentbanksareobvioussmallweakinscaleTakingMerrillLynchsecuritiesfexample，itstotalcapitalhadreac

11、hed34，659millionUSdollarsin2006，whileChinagalaxysecurities，whosetotalcapitalrankedfirst，hadonly43，202millionyuanatthesameperiodOntheotherh，thereareenmousdisparitiesbetweentheminbusinessincomeThetotalbusinessincomeofMerri