基于供应链的国内券商直投业务模式研究

发布时间：2018-07-05 12:57

本文选题：直投业务 + 供应链金融　；参考：《天津大学》2013年硕士论文

【摘要】：国内券商直投业务是指国内券商依托自身在资本市场中的专业能力，寻找并发现优质的未上市成长型企业，以公司拥有的自有资金或募集资金投资于这些企业的股权，并以通过在所投资企业上市或购并时出售股权实现股权投资收益为目的的业务。在此业务过程中，券商既可以利用自身的资源提供资本中介服务以获取服务报酬，也可以以拥有的自有资金直接参与股权投资。供应链金融，指围绕核心企业，管理上下游中小企业的资金流和物流，变把握单个企业的不可控风险为供应链企业整体的可控风险，通过立体获取各类信息，将风险控制在最低的金融服务。本文主要运用定性分析法和层次分析法对券商直投业务相关涉及的各方情况进行分析，理清券商直投项目涉及各方关系，，并构建出基于供应链金融理论的券商直投业务模式。首先提出目前券商直投业务发展中面临的问题，然后对供应链金融理论进行理论概述，并对国内券商直投业务现状进行分析，进而分析构建基于供应链金融理论的券商直投业务模式的动因，包括券商直投业务的发展难题、成长型企业的发展难题、直投业务资金投资者的投资难题、中国证监会等政府机构的监管难题和中国证券市场公众投资者的投资难题，进而总结基于供应链金融理论的券商直投业务模式，分析新模式下的券商金融服务专业化、“1+N”营销模式应用等问题，最后总结本文的研究结论、启示及不足之处，并指出今后可能的研究方向。
[Abstract]:Domestic securities direct investment business refers to the domestic securities companies relying on their own professional ability in the capital market to find and find high-quality unlisted growth enterprises and invest in these enterprises with their own capital or raised funds. The purpose of the business is to realize the return on equity investment by selling shares when the invested enterprise is listed or acquired. In this business process, securities firms can not only use their own resources to provide capital intermediary services to obtain service returns, but also directly participate in equity investment with their own funds. Supply chain finance refers to managing the capital flow and logistics of the upstream and downstream small and medium-sized enterprises around the core enterprises, changing the uncontrollable risk of a single enterprise into the controllable risk of the supply chain enterprise as a whole, and obtaining all kinds of information through three-dimensional. Keep risk at the lowest level of financial services. In this paper, the qualitative analysis method and the analytic hierarchy process are mainly used to analyze the situation of the parties involved in the direct investment business of securities companies, to clarify the relationship between the parties involved in the direct investment projects of securities companies, and to construct the business model of direct investment of securities companies based on the theory of supply chain finance. First of all, the problems faced by securities companies in the development of direct investment business are put forward, then the theory of supply chain finance is summarized, and the current situation of domestic direct investment business is analyzed. Then it analyzes the reasons for constructing the direct investment business model of securities companies based on the supply chain finance theory, including the difficulties of the development of direct investment of securities firms, the development problems of growth enterprises, and the investment problems of investors of direct investment business. China Securities Regulatory Commission (CSRC) and other government agencies, as well as public investors in China's securities market, are facing difficulties in supervision and investment, and then summarize the business model of direct investment of securities firms based on the theory of supply chain finance, and analyze the specialization of securities firms' financial services under the new model. The application of "1N" marketing mode is discussed. Finally, the conclusion, inspiration and deficiency of this paper are summarized, and the possible research direction in the future is pointed out.
【学位授予单位】：天津大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.39;F274

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