【摘要】：證券公司是指依法設(shè)立并經(jīng)國家證券監(jiān)管機(jī)構(gòu)審批完畢,以證券經(jīng)營為業(yè)務(wù)內(nèi)容,具備獨(dú)立法人資格的商業(yè)機(jī)構(gòu),組織形式可以為有限責(zé)任制或股份有限制。綜合金融服務(wù)是指在遵循現(xiàn)有法律體系框架的前提下,金融集團(tuán)為服務(wù)對象提供某一項(xiàng)金融服務(wù)時,兼顧提供其他類型的證券、保險、銀行等一系列組合服務(wù)。盈利模式為按照利益相關(guān)者劃分的企業(yè)的收入結(jié)構(gòu)、成本結(jié)構(gòu)以及相應(yīng)的目標(biāo)利潤。隨著我國證券市場進(jìn)入改革發(fā)展的重要時期,互聯(lián)網(wǎng)金融發(fā)展迅猛,嚴(yán)重影響了證券公司傳統(tǒng)的經(jīng)營模式。證券公司為適應(yīng)新的發(fā)展要求,經(jīng)營模式已經(jīng)出現(xiàn)了重要的轉(zhuǎn)變,在客戶對綜合金融服務(wù)的需求與日俱增的背景下,促使證券公司從傳統(tǒng)的通道業(yè)務(wù)向綜合金融服務(wù)轉(zhuǎn)型,其中以資產(chǎn)管理業(yè)務(wù),信用業(yè)務(wù),創(chuàng)新業(yè)務(wù)的發(fā)展最為突出。本文從現(xiàn)實(shí)意義出發(fā),首先針對證券公司綜合金融服務(wù)的相關(guān)概念進(jìn)行研究,回顧我國證券公司伴隨歷次金融改革針對客戶服務(wù)做出的諸多嘗試,進(jìn)而總結(jié)出數(shù)十年的成功與失敗。其次對我國證券公司綜合金融服務(wù)的內(nèi)容進(jìn)行全面的研究分析,并將以股權(quán)質(zhì)押融資業(yè)務(wù)、FOF、MOM以及證券公司資產(chǎn)證券化為代表的創(chuàng)新業(yè)務(wù)進(jìn)行重點(diǎn)分析。將現(xiàn)階段我國證券公司可以開展的業(yè)務(wù)類型,創(chuàng)新成果以及發(fā)展前景予以剖析,作為研究證券公司綜合金融服務(wù)的具體內(nèi)容。再次分析討論我國證券公司綜合金融服務(wù)盈利模式以及今后的發(fā)展趨勢,針對每項(xiàng)業(yè)務(wù)的收入模式以及優(yōu)劣進(jìn)行分析,進(jìn)而得出現(xiàn)階段我國證券公司綜合金融服務(wù)盈利模式的特點(diǎn)。最后將國外發(fā)達(dá)市場中成熟金融機(jī)構(gòu)的發(fā)展路徑進(jìn)行討論,總結(jié)國際資本市場中證券公司的業(yè)務(wù)構(gòu)成以及盈利模式分析,得出在我國現(xiàn)行法律制度框架下,可以借鑒的發(fā)展模式并總結(jié)各種發(fā)展模式的優(yōu)劣。本文以證券公司的角度進(jìn)行研究,在監(jiān)管放松,行業(yè)積極創(chuàng)新的大背景下,針對現(xiàn)階段證券公司可以為個人客戶、機(jī)構(gòu)客戶提供的綜合金融服務(wù)的內(nèi)容以及有代表性的創(chuàng)新業(yè)務(wù),進(jìn)行重點(diǎn)深入的研究,在證券公司業(yè)務(wù)模式創(chuàng)新改革的大背景下,進(jìn)行整體盈利模式的合理分析,對升級傳統(tǒng)業(yè)務(wù)盈利模式,改變證券公司收入結(jié)構(gòu)等方面具有積極作用。
[Abstract]:A securities company refers to a commercial institution established in accordance with law and approved by the state securities regulatory authority, which takes securities operation as its business content and possesses the status of an independent legal person. The organizational form may be limited responsibility system or limited shares. Integrated financial services refers to a series of combined services, such as securities, insurance, banks and so on, when a financial group provides a certain financial service to its clients under the premise of following the existing legal framework. The profit model is the income structure, the cost structure and the corresponding target profit of the enterprise according to the stakeholders. With China's securities market entering an important period of reform and development, the rapid development of Internet finance has seriously affected the traditional business model of securities companies. In order to adapt to the new development requirements, securities companies have undergone an important change in their business model. Under the background of increasing demand for integrated financial services from customers, securities companies have been transformed from traditional channel business to integrated financial services. Among them, asset management business, credit business, innovation business development is the most prominent. This article starts from the realistic meaning, first of all carries on the research to the securities company comprehensive financial service related concept, reviews our country securities company accompany the previous financial reform to the customer service to make a lot of attempts, And then summed up decades of success and failure. Secondly, the contents of comprehensive financial services of securities companies in China are studied and analyzed comprehensively, and the innovative business represented by equity pledge financing business, FOF,MOM and asset securitization of securities companies is analyzed emphatically. This paper analyzes the business types, innovative achievements and development prospects of securities companies in China at present, as the specific content of comprehensive financial services of securities companies. Thirdly, this paper analyzes and discusses the profit-making mode of comprehensive financial services of securities companies in China and the development trend in the future, and analyzes the income model of each business as well as the advantages and disadvantages of each business. And then draw the current stage of China's securities companies comprehensive financial services profit model characteristics. Finally, the paper discusses the development path of mature financial institutions in foreign developed markets, summarizes the business composition and profit model of securities companies in the international capital market, and draws a conclusion that under the framework of the current legal system of our country, We can draw lessons from the development model and summarize the advantages and disadvantages of various development models. This article carries on the research from the securities company's angle, under the background of the deregulation of the supervision and the active innovation of the industry, aiming at the present stage, the securities company can be the individual customer, The contents of the integrated financial services provided by institutional customers and the representative innovative business are focused on in-depth research and reasonable analysis of the overall profit model is carried out under the background of the innovation and reform of the securities company's business model. It plays a positive role in upgrading the traditional business profit model and changing the income structure of securities companies.
【學(xué)位授予單位】：對外經(jīng)濟(jì)貿(mào)易大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F832.39
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本文編號：2470840