Pinyin: jón róng
Basic explanation
[Banking; Finance] refers to the issuance, circulation and withdrawal of money, the issuance and recovery of loans, the deposit and withdrawal, the exchange of foreign exchange and other economic activities.
detailed description
It refers to the issuance, circulation and withdrawal of money, the issuance and recovery of loans, the deposit and withdrawal, and the exchange of foreign exchange.
China in the World by Hu Shi: "Let's think more. In recent years, the domestic bourgeoisie has desperately lent money to China in order to covet the interests of usurious debts, which not only prolonged the fate of bad luck, but also destroyed the national finance. " Ding Ling's Shanghai in the Spring of 1930 (I): "Many pot-bellied businessmen and blood-eating ghosts who are exhausted because of hard work on abacus have more incentive to speculate under the financial turmoil." Chapter 7 of Sunny Day by Hao Ran: "The bank leaders helped him understand the importance of financial work in restoring the national economy and building socialism, and he listened." [Edit this paragraph] The contents of finance can be summarized as the issuance and withdrawal of money, the absorption and payment of deposits, the issuance and recovery of loans, the trading of gold, silver and foreign exchange, the issuance and transfer of securities, insurance, trust, domestic and foreign currency settlement, etc. Institutions engaged in financial activities mainly include banks, trust and investment companies, insurance companies, securities companies, investment funds, credit cooperatives, finance companies, financial asset management companies, postal savings institutions, financial leasing companies, securities, gold and silver, foreign exchange exchanges, etc.
Finance is an economic category formed after the emergence of credit currency. It and credit are two different concepts: (1) Finance refers to the financing of monetary funds (narrow sense finance). People not only borrow money to finance funds, but also issue stocks to finance funds. (2) Credit refers to the borrowing of all currencies, and finance (in a narrow sense) refers to the financing of credit currency. The reason why people want to create a new concept other than "credit" to refer to the financing of credit currency is to summarize a new economic phenomenon; The two economic processes of credit and currency circulation have been closely combined. Bank credit can create and reduce money, which is the most obvious financial feature. Bank credit is considered as the core of finance.
A new explanation of financial concept
In June, 2005, Professor Xiong Deping from the Business School of Ningbo University accepted the research report of the national social science fund project "Research on Mechanism and Mode of Coordinated Development of Rural Finance and Rural Economy" and was invited to present it to the party and state leaders in the form of results, which attracted great attention and made important instructions. In 2009, this achievement won the second prize of Scientific Research Achievement Award (Humanities and Social Sciences) of the Ministry of Education. This achievement has been published in Research on the Coordinated Development of Rural Finance and Rural Economy (Social Science Literature Publishing House, published in June 5438+ 10, P66-80), and the paper "Rural Finance and Rural Finance Development: Conceptual Reconstruction from the Perspective of Transaction" and "Financial Theory and Practice", No.2, 2007, P8-/kloc-0. In the full-text reprint of Agricultural Economic Guide of Renmin University (No.12, 2007, P 120- 126), in order to define rural finance and rural financial development, the concepts of rural finance and rural financial development were redefined from the perspective of redefining the concept of finance, aiming at the defects of the existing definitions, and accordingly. This concept and its research results are worth learning and thinking from the theoretical research, policy formulation and practice departments of rural finance.
The following is the analysis and definition of the financial concept in this achievement. Please indicate the source of the results according to the above tips when quoting, so as to respect and protect the author's intellectual property rights.
First, the importance and status of the definition of financial concepts
Professor Xiong Deping's above achievement thinks: "It seems self-evident to clarify the definition of finance. Undoubtedly, this is a big problem in a discipline: the highest theoretical achievement of a discipline is often condensed in how to define and define the core category of the discipline "(Huang Da, 200 1, P 1 13). For a long time, "finance refers to the lending activities of funds or the financing activities of funds, which has been generally accepted by the academic circles" (Jiang Chun, 1999), but after in-depth investigation, it is found that "traditional financial theory and modern financial theory have different definitions of finance" (Ran Guanghe, 2004, P 19), "right' finance'. 200 1, P 1 13), and its expressions are various, each with its own emphasis. " Up to today, there is no accepted unified theoretical definition ... "(Huang Da, 200 1, P45). Faced with such a core category, this achievement has no intention to demonstrate the accepted concept of "finance", but the definition of its connotation and extension is directly related to the foundation of the research framework. The research results follow the relationship between Hegel's concept and theory and philosophy's understanding of the essence of the concept, and try to analyze and define the financial concept that can grow and support the theoretical framework of this study on the basis of synthesizing the previous definitions of finance.
To define the concept of "FINANCE", the first problem involved is the semantic difference and choice between "finance" composed of Chinese characters "Jin" and "Rong" and "finance" in English. Huang Da (200 1,-1,44-45, 1 13- 120) and Zeng (2002, p10. Broadly speaking, it refers to banking, insurance, securities, trust and related activities. In a narrow sense, "finance" is defined in the fields of capital market operation and financial asset supply and price formation. The word "finance" in English has three calibers: wide, medium and narrow. Broad caliber means: all activities related to money. It not only contains the Chinese word "wealth", but also contains concepts such as "* * * wealth", "company wealth" and "family financial management" which are completely different from the Chinese word "wealth". Narrowly speaking, it refers to the capital market, especially the stock market. Medium caliber refers to intermediary services such as banks, securities companies, insurance companies, savings associations, housing loan associations and brokers. It can be seen that the wide caliber and narrow caliber of the Chinese word "Cai" are equivalent to the medium caliber and narrow caliber of "Cai" respectively, while the wide caliber "Cai" is the general name of "* * * Cai", "corporate wealth", "family financial management" and "finance" in China. Because the theme and task of this research is to reveal the internal relationship between "rural finance" and "rural economy" from a systematic level, and to explore the mechanism and mode of coordinated development, this achievement will define "finance" in a broad sense in China.
Second, the existing debate on the definition of financial concepts
Further investigation of the existing definition of "finance" shows that although there are various expressions with different emphases, no consensus has been reached, but we can find that these different expressions of "finance" can be roughly divided into "financial intermediation theory", "financial resources theory", "financial industry theory" and "financial media theory" according to their perspectives and emphases. Among them, the theory of financial intermediation has the longest history and the most far-reaching influence in China. The definition of finance in dictionaries and textbooks basically comes from this. Other main viewpoints are mainly concentrated in academic research in recent years, and others are basically based on the extension or expansion package of financial intermediation theory.
1, "Finance Theory" holds that "finance is the financing of monetary funds, which refers to the economic activities of financing funds through monetary circulation and credit channels" (Wang, 2002). Ci Yuan (19 15): "Today, money is called finance, and it used to be called monetary policy". 1920 Beiyang * * * The word "finance" in financial bonds refers to monetary financing through credit intermediaries. Cihai (version 1936): "Currency circulation refers to the form of financing, formerly known as monetary policy." "Ci Hai" (1979) has: "The financing of monetary funds. It refers to all activities related to currency circulation and bank credit. " In 1986, Webster's third edition of the new international dictionary defines "finance" as "a system including currency circulation, credit issuance, investment and banking facilities". It can be seen that "financial intermediation theory" has the longest history and occupies the mainstream position [2], but in-depth analysis shows that although this definition accurately summarizes the process of financial activities, it hides the essential attributes of finance behind it, as if "finance" is the suspicion that finance agrees to repeat.
2. The theory of financial resources holds that finance is the right to claim the wealth of human society and a monetized social asset; It is expressed in the form of money and has the form of "stock", which not only connects the present and the past, but also connects the investment and consumption process of financial stocks and the corresponding institutional transformation between the present and the future; Finance is a resource, a limited or scarce resource and a social strategic resource (Professor Bai Qingxian et al., 2000). This definition lays a theoretical foundation for the allocation of financial resources, but it only pays attention to the static meaning of finance and ignores the process and function of finance.
3. "Financial industry theory" holds that "finance is the general name of financial intermediary behavior and mechanism, and it is an industry equal to other industrial sectors of the national economy. Financial industry refers to the general name of financial organization system and implementation mechanism based on market operation, with financial goods and services as the means and profit as the goal (Ran Guanghe, 2004,). The definition of finance in "On Financial Industry" is more related to the executive mechanism and inherent attributes of finance under the condition of market economy, emphasizing that finance is an equal part of the economic system, but it mainly focuses on the argument from the perspective of industry, and its mechanism of action is only implied in the concept of industry.
4. The theory of financial instruments holds that in the planned economy, finance is a planning tool, while in the market economy, finance is a macro-control means, which emphasizes the function of finance but ignores its initiative and guidance. The financial view of financial media theory holds that finance is a virtual system for the implementation of media economy, which pays equal attention to function but ignores the independence of finance itself. These definitions fail to recognize that finance "is actually the loan of property or the intertemporal transaction of property" (Jiang Chun, 1999), and "finance" is the transfer of credit "(Wang Dingding, 1997). Only by this formal definition, it is difficult to grasp the theoretical connotation of rural finance, and it is also difficult to further deepen the principle of the relationship between rural finance and rural economy.
Third, the new interpretation of Professor Xiong Deping's financial view.
Professor Xiong Deping believes that the essence of finance lies in the historical process of its emergence and development, and the different definitions of "finance" actually reflect the financial reality with different historical backgrounds, different perspectives and purposes. Following the analytical framework of the theory of the relationship between finance and economy, this paper investigates the historical and contemporary performance of finance. Based on the previous definition, this achievement holds that "finance" is either "currency circulation" finance or "financial market" finance. Its essence is the product of the institutionalization of credit transaction, which is composed of different property rights subjects. On the basis of trust and restraint, credit transaction activities that realize "scale economy" and the system that organizes these activities are collectively called. This concept can be summarized as "credit transaction theory".
The core view of "credit transaction theory" is that finance is the product of division of labor and exchange. The existence of different property rights subjects is a necessary condition for the emergence and development of finance. ② The contradiction between the dispersion of ownership and the concentration of production, the risk ability and management ability of different property owners and the asymmetric distribution of funds in time and space are sufficient conditions for the emergence and development of finance. The former is the social foundation of finance, while the latter is the natural foundation of finance. (3) The existence of "scale economy" and the pursuit of "scale income" by property owners are the internal driving forces for the existence and development of finance. (4) Credit transactions based on psychological trust and security are the basic characteristics of finance. ⑤ Finance that relies entirely on credit melts gold in the process of promoting economic development, thus making credit the basis of economic development and finance the core of modern economy. The economic system can be observed and studied from the financial economy and the real economy. This is the functional effect of finance. ⑥ The forms of expression and organization of finance are always in the process of development and change, and its state diversification, structure diversification, function expansion, system standardization and organization standardization have become the external characteristics of financial development. Modern finance has developed into a combination of outflow and inflow of funds, financial intermediaries and financial markets that connect them, and central banks and other financial regulatory agencies and executive systems and mechanisms that manage them. It can not only improve the efficiency of resource allocation by financing, transmitting information and providing liquidity support, but also effectively disperse and reduce risks through the law of large numbers, providing specialized services and hedging, thus reducing transaction costs and improving production or consumption efficiency. It is similar to other economic systems. ⑦ Finance is different from financial institutions. Financial institutions are the product of financial specialization, and they are "expert" organizations that provide intermediary services by relying on specialized knowledge, ability and reputation. The value of financial institutions lies in the exertion of their financial functions, not in the advancement and backwardness of their scale, quantity, forms of expression and organizational forms. ⑧ Finance and credit go hand in hand, not only not from money, but also a good monetary system depends on the construction and perfection of financial credit system.
[1] This classification is entirely for the convenience of generalization, synthesis and expression, not for the classification of schools or academic thoughts on the basis of strict academic argumentation, nor does it mean that the original creator is the intention.
[2] At present, the definition of finance in most domestic financial or monetary banking textbooks basically follows this concept.
finance
Finance is a branch of economics that studies finance. The traditional research field of finance has two directions: macro-level financial market execution theory and micro-level corporate investment theory. [Edit this paragraph] The financial website is one of the largest Chinese financial websites in the world. On June 5438+1October 65438+May, 2004, the financial sector was listed on NASDAQ (NASDAQ: JRJC), which is the only China financial internet company listed in the United States in China. After listing, the financial sector was successively selected as "Top 2004 China Commercial Website 100", "Top 2004 Information Website 10" and "Top 500 High-tech and High-growth Enterprises in Asia-Pacific Region in 2004" by Deloitte. [Edit this paragraph] The relationship between finance and economics Finance originated from economics, but now it has become an independent discipline with its own research methods. Modern finance, like economics, starts with the rational behavior of micro-subjects (behavioral finance considers irrational behavior) and constructs a market equilibrium system considering time and uncertain factors. This paper studies the mechanism and function of financial system in intertemporal resource allocation. However, finance is different from the research methods of economics, such as no-arbitrage analysis, which is commonly used in financial asset pricing. In fact, it is more general and easier to realize in the market than supply and demand pricing analysis in economics. Another difference between finance and economics is that the former considers random factors in the market, so the expectations of market participants play an important role in it. The concept of economy is much broader than that of finance.
Finance is a small branch of the economy, but each has its own emphasis.
Economics is a first-class discipline, and finance is two disciplines. Under economics, economics studies the economic development, ways and roads of a country and region. It is a macro view, which has great influence on all aspects of the economy, including industry and agriculture. Finance only studies the financial aspects of a country's economy, such as currency, securities and financial markets. [Edit this paragraph] The characteristics of finance 1 Finance is a credit transaction.
(1) credit
Credit in economics is a form of commodity trading, which corresponds to spot trading (instant settlement trading).
Credit is the foundation of finance, and finance can best embody the principles and characteristics of credit. In the developed commodity economy, credit has been integrated with currency circulation.
(2) The inherent characteristics of credit transactions.
A. One party transfers the ownership or part of the power of commodities (including currency) to the other party on the condition of repayment by the other party;
B there is a certain time difference between the first transfer of ownership or power of one party and the relative repayment of the other party;
C the party who delivers first needs to bear certain credit risks, and the occurrence of credit transactions is based on giving the other party trust.
2. In principle, finance must be targeted at money.
3. Financial transactions can occur between various economic sectors.
Its main research branches include:
financial market
Corporate finance (en: corporate finance)
Financial engineering
Financial economics
investment
Money and banking
international finance
Finance (en: public finance)
insurance
Mathematical finance
Financial econometrics
On the other hand, finance originated from economics, but now it has been relatively independent from economics and has a relatively systematic research method.
At the same time, modern finance still stays within the framework of neoclassical analysis of modern economics. It is characterized by starting with the rational behavior of micro-subjects (behavioral finance also considers irrational behavior, such as anchoring effect), constructing a market equilibrium system considering time and uncertain factors, and investigating the mechanism and role of financial system in the intertemporal allocation of resources. Finance has created a unique research method of economics. For example, the non-arbitrage analysis commonly used in the pricing of financial assets is actually more specific and easier to realize in the market than the supply and demand analysis in economics. In addition, it is very important that the concept of expectation of neoclassical economics development has been well applied in finance. Finance considers the random factors in the market, so the expectations of market participants play an important role in it, and it relies on mathematics and measurement tools for relatively accurate analysis.
From a procedural point of view:
1, foreign universities offer a variety of master's programs related to finance, but they are all applied and the courses are not consistent. Most of these projects are in business schools and tend to be empirical analysis. The economics department rarely offers similar projects, although there are some. Some master's programs train professionals who can carry out technical analysis, so they require higher mathematics application ability. Such as data processing, statistical analysis, more advanced software and so on. It also depends on the introduction of specific projects offered by specific schools and their curriculum structure.
2. Doctoral program. Business schools of some foreign universities will train doctors in finance. But most economics departments can train doctors in finance, although the name may be a doctor in economics. Financial economics, financial metrology, these professional courses are highly mathematical, while macro-finance, such as international finance, is often classified as macroeconomic research.
Finally, corporate finance, which means a little overlapping, may also be called corporate finance. Many things involving finance and management.
I can't say it clearly here because my personal understanding is limited. You can refer to three articles by Professor Qian Yingyi. Besides, every school curriculum is biased. Please read it carefully before applying. Although they are all called finance, their contents can vary widely.
● Economics major
Main subject: Economics.
Main courses: political economy, capital, western economics, accounting, statistics, econometrics, international economics, monetary banking, finance, history of economic theory, development economics, enterprise management, marketing, international finance, international trade, etc.
Career orientation: a professional who can engage in economic analysis, forecasting, planning and economic management in comprehensive economic management departments, policy research departments, financial institutions and enterprises.
● Finance major
Training objectives: This major trains professionals who have theoretical knowledge and business skills in finance and can engage in related work in economic management departments and enterprises such as banking, securities, investment and insurance.
Training requirements: Students in this major mainly study basic theories and knowledge such as monetary banking, international finance, securities, investment and insurance. I have received basic training in related businesses and have the basic ability of practical work in the financial field.
Graduates should have the following knowledge and abilities:
1. Master the basic theory and knowledge of finance;
2. Have the basic ability to handle banking, securities, investment and insurance;
3. Familiar with national financial policies, policies and regulations;
4. Understand the theoretical frontier and development trend of this discipline;
5. Master the basic methods of literature retrieval and information query, and have certain scientific research and practical work ability.
Main course:
Main subject: Economics.
Main courses: political economy, western economics, finance, international economics, monetary banking, international financial management, securities investment, insurance, commercial bank management, central banking, investment banking theory and practice, etc.
Who are the most popular financial talents? Gao Yong, CEO of Ke Rui Consulting Group, believes that the following ten types of financial talents are hot:
Financial Analyst (CFA): Since 1963 was first opened in the United States, only 35,500 people in the world have passed the exam so far. Only 50 people in Chinese mainland have CFA qualifications. The demand for CFA in Shanghai in the next three years is 3,000 people, while at present there are only 30 people.
Chartered wealth manager: Must have worked in a financial institution for more than 5 years, have a good economic foundation and be proficient in at least two investment fields.
Fund manager: responsible for fund raising, operation and management, as well as monitoring after listing. You need to know the operating rules of foreign countries and know the domestic market very well, and you can use investment tools to effectively avoid various risks and achieve the best investment portfolio.
Insurance actuary: China's Insurance Law stipulates that insurance companies must employ actuaries recognized by financial supervision departments. At present, there are only about 50 actuaries in China. Experts predict that 5,000 actuaries will be urgently needed in the next 10 year.
Securities broker: The huge investment group of 70 million domestic investors provides a huge market for the rise of securities brokers. A qualified securities broker should have solid financial knowledge and rich investment experience.
Chief Information Officer: Familiar with international financial business and experience in IT system planning and construction of international banks is required.
Investment management talents include four categories, namely venture capital talents, financial leasing talents, financial business representatives and personal investment consultants. They should have a correct judgment on the investment in stocks, bonds and financial derivatives, and have experience in enterprise management. Engaged in venture capital, it is best to have entrepreneurial experience, understand finance, human resource management, marketing and sales.
Securities analyst: mainly engaged in macroeconomic research, industry research, individual stock research, special research and institutional investment planning, and can guide investors to make clear the direction of market investment. Generally, it is required to have a master's degree or above in economics, have securities business qualifications and have more than 3 years of experience in the investment market of securities and futures.
High-level insurance salesmen: With the healthy development of the insurance industry, the quantity and quality of high-level insurance salesmen must be improved. Aobaolian, business development director of AIA Shanghai Branch, revealed that AIA has 4,700 agents in Shanghai this year, and it is expected to expand the suite to about 6,000 next year, requiring employees to understand comprehensive knowledge such as financial insurance and financial tax policies.
Financial consultant: provide financial guidance to individual customers and tailor financial plans.
What does the financial industry do? Financial industry refers to a special industry dealing in financial commodities, including banking, insurance, trust, securities and leasing.
The financial industry has the characteristics of index, monopoly, high risk, interest dependence and high debt management. Indicators mean that financial indicators reflect the overall and individual situation of the national economy from all angles, and the financial industry is a barometer of the development of the national economy.
On the one hand, monopoly means that the financial industry is strictly controlled by the central bank, and no unit or individual may set up financial institutions at will without the approval of the central bank; On the other hand, it refers to the relative monopoly of specific financial business. Credit business is mainly concentrated in the four major commercial banks, securities business is mainly concentrated in national securities companies such as Cathay Pacific, Huaxia and Nanfang, and insurance business is mainly concentrated in PICC, Ping An and Pacific Insurance.
High risk means that the financial industry is a distribution center for huge amounts of money, involving all sectors of the national economy. Any mistakes in business decisions of units and individuals may lead to "domino effect". Interest dependence means that financial interests depend on the overall interests of the national economy and are greatly influenced by policies. High-debt management means that the proportion of self-owned funds is lower than that of general industrial and commercial enterprises. The financial industry plays an important role in the national economy, which is related to economic development and social stability, and has the functions of optimizing the allocation and adjustment of funds, reflecting and supervising the economy.
The unique position and inherent characteristics of the financial industry make all countries attach great importance to the development of their own financial industry. China has a process of understanding and developing this. In the past, China's financial industry developed slowly and irregularly. After more than ten years of reform, the financial industry is developing at an unprecedented speed and scale. With the steady growth of economy and the deepening of economic and financial system reform, the development prospect of financial industry is very broad.
What is finance? What does finance do? A: Finance is financing.
Finance refers to the issuance, circulation and withdrawal of money, the issuance and recovery of loans, the deposit and withdrawal, the exchange of foreign exchange and other economic activities.
The industries that finance can engage in mainly include:
Banking financial institutions (commercial banks, investment banks, rural credit cooperatives, postal savings offices, etc.). ) and non-bank financial institutions (securities companies, insurance companies, foreign exchange and wealth management institutions, etc. ).
What does E Port Finance do? It seems to be engaged in financial management and car loan. You can go to official website for details.
What is mutual deposit finance for? Mutual deposit finance is committed to creating financial management in the form of P2F, which refers to financial management from individuals to institutions, because borrowers are institutions, not individuals.
What is the financial network for? The financial network is to promote the culture of spiritual transactions. There is a mysterious team running. They have training in gold, foreign exchange and stocks, and call to place orders every day. The single call mode is unique and unique to the spiritual exchange. It is said that the accuracy rate is above 85%. Finance hired Shan Zhongqian, the author of The Secrets of Mind Trading, as the chief consultant, and was invited to give a lecture on Zhuangzi and Finance, which is a series of lectures on mind trading.
What does financial sales do? It sells financial products for wealth management.
What does a financial guardian do? Financial guards are also called guards. Is responsible for transporting cash and important vouchers to banks or other large shopping malls.
The duty of the escort is to defend the financial security and order of the country with his life. He must not lose a penny of the country in the process of escort, and he must try his best to fight the bad guys when someone robs him.
As a special occupation, the act of carrying and using guns according to law is protected by law; However, those who illegally carry or use guns shall also bear legal responsibilities according to law.
What does Haoyuan Finance do? Is a company, doing p2p online loans, as well as offline micro-loans, credit card business, UnionPay pos machines and so on. It seems that's all, I don't know anymore!