【摘要】：上海股權托管交易中心（以下簡稱“股交中心”）是經(jīng)由上海市政府批準，于2012年2月啟動運營的場外交易平臺，，是市政府貫徹落實國家關于“建設完善我國多層次資本市場體系”這一戰(zhàn)略部署的重要舉措。作為我國國際金融中心上海所建立的場外市場平臺，股交中心在解決中小企業(yè)融資難問題、發(fā)揮金融支持實體經(jīng)濟和支持自主創(chuàng)新發(fā)展作用上，被寄予了厚望。 本文以境內外主要場外交易市場的發(fā)展情況為起點，總結其發(fā)展特色和規(guī)律作為股交中心平臺構建的借鑒，再介紹我國場外交易市場以及上海股交中心的發(fā)展歷程，詳細分析股交中心建設運營情況，找出其發(fā)展中的問題并進行原因分析。隨后，一方面通過波特五力模型重點對其客戶及其需求、平臺競爭情況做分析，梳理出平臺三大參與方，即融資企業(yè)、投資者、會員服務機構之間的供需循環(huán)模型；另一方面運用SWOT模型找出股交中心發(fā)展的外部機會和威脅以及自身資源的優(yōu)勢和劣勢，將兩方面結合考慮以尋找突破發(fā)展瓶頸的方法對策和發(fā)展戰(zhàn)略。最后得出以下結論：要打開平臺冷清的局面，實現(xiàn)“解決中小企業(yè)融資困難、發(fā)揮金融支持實體經(jīng)濟和創(chuàng)新發(fā)展”的目標，不能只著眼于中小企業(yè)的需求，而要把市場參與者之間的供需正循環(huán)建立起來，打造以客戶需求為導向的綜合性金融平臺。為此建議股交中心重點采取增長型戰(zhàn)略，并從三方面入手：一是以平臺主體的需求和供需關系為基礎，通過板塊、制度、產(chǎn)品創(chuàng)新提升平臺功能和需求配對效率；二是加強市場推廣和培育，通過合作和宣介擴大市場規(guī)模和影響力；三是加快人才隊伍建設，建立培訓體系，提升平臺的持續(xù)創(chuàng)新能力和服務水平。
[Abstract]:The Shanghai Equity Trusteeship Exchange Center (hereinafter referred to as the "Stock Exchange Center") is an over-the-counter trading platform that was launched in February 2012 with the approval of the Shanghai Municipal Government. It is an important measure for the municipal government to carry out the strategic plan of "building and perfecting our country's multi-level capital market system". As the over-the-counter market platform established by Shanghai, China's international financial center, the stock exchange center is expected to solve the financing difficulties of small and medium-sized enterprises, to give full play to the role of financial support to the real economy and to support the development of independent innovation. Based on the development of the main OTC markets at home and abroad, this paper summarizes the characteristics and rules of its development as a reference for the construction of the stock exchange center platform, and then introduces the development course of the OTC market in China and the Shanghai Stock Exchange Center. Analyze the construction and operation of the center in detail, find out the problems in its development and analyze the reasons. Then, on the one hand, it analyzes the customers and their needs and the platform competition through Porter's five-force model, combing out the supply and demand cycle model among the three major participants of the platform, that is, financing enterprises, investors, and member service institutions. On the other hand, the SWOT model is used to find out the external opportunities and threats of the development of the stock exchange center, as well as the advantages and disadvantages of its own resources, and to combine the two aspects to find the method and strategy to break through the bottleneck of development. Finally, the following conclusions are drawn: to open the platform to the cold, to achieve the goal of "solving the financing difficulties of SMEs, giving full play to financial support for the real economy and innovative development", can not only focus on the needs of small and medium-sized enterprises. We should set up a comprehensive financial platform based on customer demand-oriented by establishing the supply and demand cycle between market participants. Therefore, it is suggested that the center of stock exchange should adopt the growth strategy, and proceed from three aspects: first, based on the demand and supply relationship of the main body of the platform, through the plate, system, product innovation to enhance the efficiency of platform function and demand matching; The second is to strengthen market promotion and cultivation, to expand the market scale and influence through cooperation and communication, and third, to accelerate the construction of talent team, to establish training system, and to enhance the continuous innovation ability and service level of the platform.
【學位授予單位】：上海交通大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.51

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