净资本监管体制对券商财务管理的影响初探-会计专业论文.docxVIP

promulgated on July 24, 2006 by the China Securities Regulatory Commission and were supposed to be implemented on November 1st, 2006, which meant that the risk management in the Chinese securities companies became specialized and internationalized. The principles limited the size of self-securities business and financing business explicitly, and set a high standard on the securities companies’ abilities of dynamically measuring the risk. Furthermore, the stricter regulation measures were formulated based on the different net capital. The TB Securities Company is a new comer and established in 2003. Though it operates conservatively and has made profits in the successive 4 years after its commencement, it is lack of the core competence and the multiple profit-making models. Under the new system of the net capital regulation, how to reinforce the financial management and risk management, how to expand the businesses, and how to increase the efficiency of self-possessed capital and improve the profit-making ability based on the healthy and conservative operation turns out the urgent missions in the TB Securities Company. In the first chapter of this paper, the author introduces the calculating rules on the net capital, which is an international-wide used indicator of the risk. What is more, the situations and features of implementing the new system of net capital regulation after November 1st, 2006 are also discussed. In the second chapter, the author analyzes the influences of implementing the new system on the financial management and the business models, based on which the problems resulting from its implementation are indicated and the suggestions on improving the risk regulation system are proposed. In the third chapter, the influences of the net capital regulation system on the financial management in the securities companies in China are analyzed in the aspects of the financial management strategies, the financing and investing decisions, the financial risk man