G证券公司融资融券业务风险管理研究

发布时间：2018-01-12 10:22

本文关键词：G证券公司融资融券业务风险管理研究　出处：《陕西师范大学》2013年硕士论文　论文类型：学位论文

【摘要】：在境外,融资融券交易已经有着400多年的历史,从世界第一家证券交易所——阿姆斯特丹证券交易所成立之时就已伴随而生的融资融券,成为当时证券市场不可分割的一部分,并延续至今。我国证券公司在证券市场日益加速的市场化国际化影响下,其面临的生存形势不可避免日益严峻。而融资融券的实施,将打破目前证券公司融资渠道不畅和资金短缺的现状,增加券商股利润来源,提高竞争能力。过往在证券公司主营业务收入占比最重的经纪业务收入比例逐渐下降,取而代之的是创新业务收入,如融资融券、股指期货业务等。因此,融资融券业务的风险管理重视程度与日俱增,需严格控制各种风险对融资融券业务的收入产生影响。中国证券市场自上世纪70年代萌芽,以上海证券交易所和深圳证券交易所的成立为标志,至今已发展30多年,世界上最年轻的证券市场之一。特别是近二十年来,证券公司跟随着证券市场的发展步伐,其资产规模和业务范围得到了快速的扩张。证券公司的市场竞争力,由其所支配的资产及所占有的市场份额来决定。虽然我国券商经历了多轮增资扩股,但相对于国外证券公司,规模仍然偏小抗风险能力还是不足。课题通过对G证券公司的融资融券业务开展情况及风险控制进行多维度分析,通过国内外市场融资融券业务的发展现状对比,分析证券公司融资融券业务开展过程中遇到的问题和挑战,对G证券公司融资融券业务中的各个流程环节进行梳理,运用风险管理理论,提出解决策略与建议,对G证券公司实现可持续发展具有一定的借鉴意义。本文以国内外融资融券业务发展历程为基础,对证券公司的融资融券业务进行了深入研究和分析,结合G证券公司的实际案例,概括目前融资融券业务开展过程中产生的各种问题,并根据风险管理理论,对证券公司进行融资融券业务发展中各个环节存在的主要问题,研究解决策略,提出合规风险防范建议。
[Abstract]:Overseas, margin trading has a history of more than 400 years, from the world's first stock exchange-Amsterdam Stock Exchange has been accompanied by margin financing since the establishment of the stock exchange. Become an inseparable part of the securities market at that time, and continue to this day. China's securities companies in the securities market increasingly accelerated under the impact of market-oriented internationalization. It is inevitable that the survival situation is becoming increasingly serious, and the implementation of margin financing will break the current situation of securities companies financing channels and capital shortage, and increase the profit source of securities companies. In the past, the proportion of income of brokerage business, which accounts for the highest proportion of the main business income of securities companies, has gradually decreased, and instead of innovative business income, such as margin trading, stock index futures business and so on. The risk management of margin and short margin business is being paid more and more attention, so it is necessary to strictly control the influence of various risks on the revenue of margin and short margin business. China's securities market has been developing for more than 30 years since -30s, marked by the establishment of Shanghai Stock Exchange and Shenzhen Stock Exchange. One of the youngest securities markets in the world, especially in the past 20 years, the securities companies have followed the pace of the development of the securities market, its asset size and business scope has been rapidly expanded, and the market competitiveness of securities companies. Although our securities companies have experienced many rounds of capital increase and stock expansion, compared with foreign securities companies, the scale of securities companies is still relatively small to resist risks. The subject through the G securities company margin business development and risk control multi-dimensional analysis, through the domestic and foreign market margin business development status comparison. This paper analyzes the problems and challenges encountered in the process of securities companies' margin and short selling business, combs all the flow links in the G securities companies' margin and margin business, and puts forward the solving strategies and suggestions by using the theory of risk management. G securities company to achieve sustainable development has certain reference significance. Based on the development of margin trading business at home and abroad, this paper makes a thorough study and analysis of securities companies' margin and margin business, combining with the actual case of G securities company. Summarize the current margin business development process of the various problems, and according to the risk management theory, securities companies in the development of margin trading business development of the main problems, research and solutions. Make recommendations on compliance risk prevention.
【学位授予单位】：陕西师范大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F272.3;F832.39

【参考文献】