【摘要】：證券公司作為資本市場中重要的金融機(jī)構(gòu)之一,在金融體系中扮演的角色、發(fā)揮的功能已經(jīng)顯得越來越重要。宏源證券作為第一家上市的證券公司,其對(duì)企業(yè)融資的創(chuàng)新業(yè)務(wù),在近兩年也取得了跨越式發(fā)展。2014年以來,我國經(jīng)濟(jì)增速放緩,此時(shí)企業(yè)對(duì)國民經(jīng)濟(jì)的拉動(dòng)作用就顯得更加珍貴,但企業(yè)融資難,融資方式單一的問題仍然困擾著企業(yè)。因此,充分發(fā)揮宏源證券在金融市場中的作用,通過其創(chuàng)新型的融資業(yè)務(wù),幫助企業(yè)緩解融資難度,增加融資的方式,是企業(yè)和宏源證券實(shí)現(xiàn)持續(xù)發(fā)展的又一良機(jī)。 文章首先介紹了宏源證券的基本情況及宏源證券企業(yè)融資的傳統(tǒng)業(yè)務(wù),例如公司債和私募債,城投債,股票質(zhì)押回購業(yè)務(wù)。但隨著企業(yè)的發(fā)展和時(shí)代的變遷,企業(yè)融資需求發(fā)生改變,宏源證券傳統(tǒng)的企業(yè)融資業(yè)務(wù)已經(jīng)不能完全滿足企業(yè)的需求。隨即,宏源證券根據(jù)企業(yè)需求的特點(diǎn),結(jié)合國家對(duì)證券公司的政策引導(dǎo),在一些創(chuàng)新性的企業(yè)融資業(yè)務(wù)上有所作為,例如：資產(chǎn)證券化業(yè)務(wù)、企業(yè)融資通道業(yè)務(wù)、信托寶業(yè)務(wù)、私募中票業(yè)務(wù)。這些業(yè)務(wù)實(shí)現(xiàn)了企業(yè)、券商、投資者風(fēng)險(xiǎn)共擔(dān),優(yōu)化了企業(yè)的財(cái)務(wù)結(jié)構(gòu),提出宏源證券依靠股東加大海外業(yè)務(wù)開展。最后,文章提出了完善宏源證券企業(yè)融資業(yè)務(wù)的對(duì)策和建議,希望能夠促進(jìn)宏源證券自身的成長與發(fā)展,為資本市場的投資者帶來更好的金融服務(wù),讓投資者更加了解企業(yè),愿意將資金投入到企業(yè)中來。相應(yīng)的,也能夠促進(jìn)我國資本市場融資結(jié)構(gòu)更加優(yōu)化,更加成熟。本文的研究結(jié)果能夠幫助宏源證券更好的開展企業(yè)融資業(yè)務(wù),同時(shí)對(duì)企業(yè),資本市場的發(fā)展都有實(shí)踐意義。 文章提出,類似于宏源證券對(duì)企業(yè)融資的創(chuàng)新業(yè)務(wù),應(yīng)該充分發(fā)揮自身作為證券公司在資本市場中的優(yōu)勢(shì)和獨(dú)特地位,順應(yīng)行業(yè)發(fā)展,在不違背行業(yè)監(jiān)管法律的原則下,在風(fēng)險(xiǎn)可控,可測的前提下,積極開發(fā)適合企業(yè)、券商的創(chuàng)新類融資工具,從而帶動(dòng)企業(yè)融資渠道向多元化發(fā)展,進(jìn)而促進(jìn)我國資本市場更加成熟,實(shí)現(xiàn)投資者、企業(yè)、券商的多贏。
[Abstract]:As one of the important financial institutions in the capital market, securities companies play an increasingly important role in the financial system. As the first listed securities company, Hongyuan Securities has made leaps and bounds in its innovative business of enterprise financing in the past two years. Since 2014, China's economic growth rate has slowed down. At this time, the pulling effect of enterprises on the national economy is more precious, but the financing of enterprises is difficult, the single financing method still puzzles the enterprises. Therefore, giving full play to the role of Hongyuan securities in the financial market, through its innovative financing business, to help enterprises ease the difficulty of financing and increase the way of financing, is another good opportunity for enterprises and Hongyuan securities to achieve sustainable development. This paper first introduces the basic situation of Hongyuan Securities and the traditional business of Hongyuan Securities financing, such as corporate debt and private debt, city investment debt, stock pledge repurchase business. However, with the development of enterprises and the changes of times, the financing needs of enterprises have changed. The traditional financing business of Hongyuan Securities can not fully meet the needs of enterprises. Immediately, according to the characteristics of the enterprise demand, Hongyuan Securities has made some achievements in some innovative enterprise financing business, such as asset securitization business, enterprise financing channel business, trust treasure business, combined with the policy guidance of the state to the securities company. Private equity ticket business. These businesses realize the risk sharing among enterprises, securities firms and investors, optimize the financial structure of enterprises, and put forward that Hongyuan Securities relies on shareholders to expand overseas business. Finally, the article puts forward the countermeasures and suggestions to perfect the financing business of Hongyuan securities enterprise, hoping to promote the growth and development of Hongyuan securities itself, bring better financial services to investors in the capital market, and let investors understand the enterprise better. Willing to put money into the enterprise. Accordingly, also can promote our country capital market financing structure to be more optimized, more mature. The research results of this paper can help Hongyuan Securities to carry out financing business better, and it has practical significance to the development of enterprise and capital market at the same time. The paper points out that the innovative business similar to Hongyuan Securities should give full play to its advantages and unique position in the capital market, comply with the development of the industry, and not violate the principle of industry supervision law. Under the premise of controllable and measurable risks, we should actively develop innovative financing tools suitable for enterprises and securities dealers, thus driving enterprises to diversify their financing channels, thus promoting the maturity of our country's capital market and realizing investors and enterprises. The stockbroker wins many times.
【學(xué)位授予單位】：鄭州大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.51

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本文編號(hào)：2346655