【摘要】：隨著我國資本市場開放程度逐漸加快,金融國際化和利率市場化將是我國金融市場未來發(fā)展的新趨勢。證券公司作為資本市場上重要的參與者和組織者,它的健康平穩(wěn)運(yùn)行,是資本市場得以平穩(wěn)有效運(yùn)行的保障。所以證券公司的經(jīng)營管理者既要注重內(nèi)部的績效管理,更要考慮如何提高證券公司的績效水平。因此,針對我國證券行業(yè)目前的發(fā)展?fàn)顩r,深入研究我國上市證券公司經(jīng)營績效水平,這對國內(nèi)證券公司的發(fā)展壯大以及證券市場的穩(wěn)定有著重要的意義。本文以上市證券公司2010-2012年的年度面板數(shù)據(jù)為樣本,從證券公司的盈利能力、償債能力、發(fā)展能力、營運(yùn)能力以及資產(chǎn)質(zhì)量等五個方面,對我國上市證券公司經(jīng)營績效進(jìn)行深入分析。根據(jù)本文的研究目標(biāo),設(shè)定以下研究內(nèi)容：第一章為緒論。這部分從研究背景和研究意義開始,接著介紹了研究內(nèi)容與概念界定,還有研究方法和技術(shù)路線,最后闡述了本文可能的創(chuàng)新與不足。第二章為國內(nèi)外相關(guān)文獻(xiàn)綜述。本文從國內(nèi)和國外兩個角度回顧了公司績效評價的相關(guān)研究,并對已有的研究成果進(jìn)行了評述總結(jié)。第三章為當(dāng)前的經(jīng)營狀況及存在的問題。首先,回顧了我國證券公司發(fā)展歷程；然后闡述了我國證券公司的經(jīng)營現(xiàn)狀；最后,列出了我國證券公司在發(fā)展過程中積存下來的問題。第四章為構(gòu)建績效評價指標(biāo)體系。首先,確立我國上市證券公司績效評價體系的主要內(nèi)容；然后確定績效評價指標(biāo)體系所要遵循的原則；最后,構(gòu)建評價我國上市證券公司績效的指標(biāo)體系,包括評價指標(biāo)的選取和評價指標(biāo)的解釋。第五章為績效評價分析。首先,選取樣本,介紹了樣本選取的依據(jù)及數(shù)據(jù)的來源；然后運(yùn)用整理得到的上市證券公司2010年至2012年的樣本數(shù)據(jù),通過因子分析法來分析上市證券公司的經(jīng)營績效,計(jì)算各公因子得分和綜合得分；最后,對各個公因子及綜合績效進(jìn)行解釋分析。第六章為綜合結(jié)論及對策建議。對因子分析中提取的五個公因子和綜合績效的結(jié)果進(jìn)行逐一分析,在分析的過程中發(fā)現(xiàn),證券公司經(jīng)營績效的好壞與償債能力、成長能力以及營運(yùn)能力有著密切的關(guān)系,上市證券公司績效排名靠前的,償債能力、營運(yùn)能力和成長能力都比較靠前。最后針對我國證券公司未來的發(fā)展,首先從分析結(jié)果提出一些改善的建議,然后從自身戰(zhàn)略、營銷策略和競爭者之間的合作等方面提出實(shí)際有效的建議。
[Abstract]:With the opening of our country's capital market, financial internationalization and interest rate marketization will be the new trend of our country's financial market in the future. As an important participant and organizer in the capital market, the securities company runs healthily and smoothly, which is the guarantee for the capital market to run smoothly and effectively. Therefore, the managers of securities companies should pay attention to the internal performance management, but also consider how to improve the performance level of securities companies. Therefore, in view of the current development of China's securities industry, the in-depth study of the performance level of listed securities companies in China is of great significance to the development and growth of domestic securities companies and the stability of the securities market. This paper takes the annual panel data of listed securities companies from 2010-2012 as a sample, from five aspects: profitability, solvency, development capacity, operating capacity and asset quality. The operating performance of listed securities companies in China is analyzed in depth. According to the research goal of this paper, the following research contents are set up: the first chapter is the introduction. This part starts with the research background and significance, then introduces the research content and concept definition, as well as the research method and technical route, and finally expounds the possible innovation and insufficiency of this paper. The second chapter is the domestic and foreign literature review. This paper reviews the relevant research on corporate performance evaluation from both domestic and foreign perspectives, and reviews the existing research results. The third chapter is the current operating situation and existing problems. Firstly, the paper reviews the development course of the securities companies in China, then expounds the present management situation of the securities companies in our country, and finally, lists the problems accumulated in the development process of the securities companies in our country. The fourth chapter is the construction of performance evaluation index system. First of all, establish the main contents of the performance evaluation system of listed securities companies in China; then determine the principles to be followed in the performance evaluation index system; finally, construct the index system to evaluate the performance of listed securities companies in China. Including the selection of evaluation indicators and the interpretation of evaluation indicators. The fifth chapter is the analysis of performance evaluation. First, select samples, introduce the basis of sample selection and the source of data; then use the collected sample data of listed securities companies from 2010 to 2012, through factor analysis to analyze the operating performance of listed securities companies. Calculate the common factor score and comprehensive score. Finally, explain and analyze each common factor and comprehensive performance. The sixth chapter is the comprehensive conclusion and the countermeasure suggestion. The results of five common factors and comprehensive performance are analyzed one by one. In the process of analysis, it is found that the performance of securities companies is closely related to solvency, growth ability and operation ability. Listed securities companies ranked first in terms of performance, solvency, operating capacity and growth ability. Finally, in view of the future development of the securities companies in China, this paper first puts forward some suggestions for improvement from the analysis results, and then puts forward practical and effective suggestions from the aspects of its own strategy, marketing strategy and cooperation among competitors.
【學(xué)位授予單位】：南京農(nóng)業(yè)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F272.92;F832.39

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