本文選題：證券公司　切入點：競爭力　出處：《復旦大學》2012年碩士論文　論文類型：學位論文

【摘要】：隨著國民經(jīng)濟的不斷發(fā)展,我國資本市場逐步壯大,截至2011年底,滬深交易所共有上市公司2342家,投資者開戶總數(shù)超過2億戶,總市值21.48萬億元,中國已經(jīng)成為全球第三大股票市場。在國民經(jīng)濟水平進一步提高的同時,我國將逐步進入經(jīng)濟結(jié)構(gòu)調(diào)整階段,經(jīng)濟增長方式由粗放型向集約型轉(zhuǎn)變,經(jīng)濟發(fā)展思路由以速度為主向社會的整體和諧轉(zhuǎn)變,經(jīng)濟增長動力由以投資為主向以消費驅(qū)動為主轉(zhuǎn)變。這些轉(zhuǎn)變趨勢給資本市場帶來了巨大的發(fā)展機遇。但與此同時,我國證券行業(yè)也面臨著產(chǎn)業(yè)升級和轉(zhuǎn)型的巨大挑戰(zhàn),證券公司普遍存在諸如同質(zhì)化競爭、收入結(jié)構(gòu)不合理等問題并受到金融混業(yè)和國際化趨勢的沖擊,其未來的競爭環(huán)境將更為復雜而激烈。因此我國證券公司必須不斷增強自身實力,持續(xù)提升競爭能力。 本文通過對企業(yè)競爭力相關理論的總結(jié)分析,結(jié)合我國證券行業(yè)的實際情況,建立了我國證券公司競爭力評價指標體系。該指標體系從證券公司經(jīng)營管理的9大方面著手,選取了24項明細指標,涉及經(jīng)營規(guī)模、盈利能力、營運效率、償債能力、風險管理、治理結(jié)構(gòu)、市場能力、收入結(jié)構(gòu)和創(chuàng)新能力。并以此為基礎進行深入分析： 首先,采用因子分析法,對我國證券公司在規(guī)模、結(jié)構(gòu)、資產(chǎn)經(jīng)營、效率、資產(chǎn)管理業(yè)務、盈利能力6個因子方面的競爭力以及綜合競爭力進行評價； 其次,采用聚類分析法,將40家樣本證券公司分為6種類型,進行競爭力的比較研究和評價,形成對其行業(yè)地位以及競爭優(yōu)劣勢的正確判斷； 再次,采用動態(tài)分析法,了解我國證券公司綜合競爭力的變化情況,對其競爭力的增長能力進行全面比較； 最后,選取部分可比指標,建立了適用于中外證券公司的綜合競爭力排名體系。通過比較分析,發(fā)現(xiàn)我國證券公司與國際著名證券公司之間的差距主要在于規(guī)模和業(yè)務結(jié)構(gòu)方面,這是由行業(yè)發(fā)展階段、國家金融管理政策、客戶成熟度等原因造成的。 根據(jù)以上多角度的分析,結(jié)合筆者證券工作實踐經(jīng)驗,提出提升我國證券公司競爭力的策略,包括增強規(guī)模實力、優(yōu)化業(yè)務經(jīng)營、完善法人治理、培養(yǎng)優(yōu)秀人才、加強風險管理等方面。
[Abstract]:With the continuous development of the national economy, the capital market of our country has gradually expanded. As of end of 2011, there were 2,342 listed companies on the Shanghai and Shenzhen Stock Exchange, with a total of more than 200 million accounts opened by investors, with a total of 21.48 trillion yuan from market value. China has become the third largest stock market in the world. At the same time as the level of the national economy is further improved, China will gradually enter the stage of economic restructuring. The mode of economic growth has changed from extensive to intensive. The thought of economic development has changed from speed oriented to social harmony, and the driving force of economic growth has changed from investment to consumption. These trends have brought great opportunities for the development of the capital market, but at the same time, The securities industry of our country also faces the enormous challenge of upgrading and transformation of industry. The securities companies generally have problems such as homogeneous competition, unreasonable income structure and so on, which are impacted by the trend of financial mixed industry and internationalization. The future competitive environment will be more complex and fierce, so our securities companies must constantly enhance their own strength and competitiveness. Based on the summary and analysis of the relevant theories of enterprise competitiveness and the actual situation of China's securities industry, this paper sets up an evaluation index system for the competitiveness of securities companies in China. The index system starts from 9 aspects of the management of securities companies. Twenty-four detailed indicators were selected, covering business scale, profitability, operational efficiency, solvency, risk management, governance structure, market capacity, income structure and innovation ability. Firstly, this paper evaluates the competitiveness and comprehensive competitiveness of Chinese securities companies in terms of scale, structure, asset management, efficiency, asset management business and profitability. Secondly, the 40 sample securities companies are divided into 6 types by cluster analysis, and the comparative study and evaluation of competitiveness are carried out to form a correct judgment on the position of the industry and the advantages and disadvantages of the competition. Thirdly, the dynamic analysis method is used to understand the changes of the comprehensive competitiveness of the securities companies in China, and to compare the growth ability of the comprehensive competitiveness of the securities companies in an all-round way. Finally, a comprehensive competitiveness ranking system for Chinese and foreign securities companies is established by selecting some comparable indexes. It is found that the gap between Chinese securities companies and international famous securities companies is mainly in the aspects of scale and business structure, which is caused by industry development stage, national financial management policy, customer maturity and so on. According to the above analysis, combined with the author's practical experience in securities work, this paper puts forward some strategies to enhance the competitiveness of Chinese securities companies, including enhancing the scale strength, optimizing business management, perfecting the governance of legal persons, and cultivating outstanding talents. Strengthen risk management and other aspects.
【學位授予單位】：復旦大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F832.51;F224

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