HX证券公司综合业务模式创新研究
发布时间：2018-08-22 11:47
【摘要】：我国证券市场成立以来,证券公司的收入与利润来源主要依靠传统的通道业务,其盈利性与业务牌照的取得及二级市场的兴衰高度相关,具有极大的不稳定性、单一性和粗放性,经营风险大,技术含量相对较低。资料显示,近年来证券公司在我国金融业中的业务占比相对银行、信托等其他金融机构呈现萎缩之势,其经营理念、产品与服务创新及价值创造等方面居于落后。券商传统的业务模式正面临挑战,创新迫在眉睫。 2012年9月18日,国家发布《金融业务发展和改革“十二五”规划》,明确了金融改革的目标。同年5月,中国证监会召开行业创新大会,提出了证券公司改革开放、创新发展11条,并相继出台了一系列行之有效的改革措施。 在金融混业趋势及创新发展的背景下,国内券商掀起了新一轮业务创新和服务热潮,创新方法及手段层出不穷。然而,趋势至今,各家依旧在摸着石头过河,在急切行进中对未来创新发展的模式并没有清晰的思路,更多地表现为零散的产品与业务创新,看似热闹非凡,却没有一根贯穿的主线。 笔者认为,在大金融的范畴下,我国券商相对于银行、保险、信托等金融机构,其比较优势是对资本市场的熟悉、对各类投融资工具的娴熟运用、有较为丰富的人才队伍和较为完整的服务体系。如何在新形势下,紧紧围绕自身比较优势,整合各类资源,形成核心竞争力,通过为客户提供系统解决方案来创造更大价值,是始终要统帅其各类创新的核心目标。基于此,本文以HX证券公司综合业务模式的创新为研究对象,探索构建证券公司新型核心竞争力之路,通过为客户创造更大价值来赢得未来竞争优势。 一般意义上讲,创新的方式往往表现为效率的提高、成本的降低、差异化的产品与服务和更为系统的解决方案,然而在创新的尝试中却时常要面临与当前效益的冲突。笔者以为,创新业务与市场效益之间应该设定一个较好的业务机制来平衡,摆脱过去经纪业务、资管业务、投行业务等条块分割的现状,不再孤立地面对同一个市场和同一个客户,提供相对单一的产品与服务,相反,需要对过去的业务流程、管理机制进行再造,将不符合当前趋势的管控手段予以清除,走上以长期整体方案的提供、多业务的协同、深度挖掘客户需求为导向的创新业务模式,在为客户创造更大价值的同时为自身带来更好的市场效益。因此,创新并非单一的业务创新,更不是漫无目的的冲动,而是有目标的、系统的综合业务模式创新,这需要一定的大局观和前瞻性的管理思维,从战略的高度对证券公司的组织构架、业务流程、管理机制等进行大刀阔斧的改革和创新。 本文以创新理论、协同理论和金融产业可持续发展理论为指导,从分析我国券商传统业务现状出发,得出我国券商存在盈利途径单一、抗风险能力不足、缺乏核心竞争力等一系列问题。以2012年以来券商创新发展政策下的业务表现分析得出,我国券商创新业务已初现曙光,风险与机遇并存,应抓住这一时机进行综合业务模式创新。接着文章分析了HX证券公司的业务现状及其存在的问题。然后文章分析了国外券商(以美国和韩国为例)的业务模式,从中寻求发达国家可供借鉴的先进经验。接下来,文章提出了在新的市场环境下,创新HX证券公司综合业务模式的基本思路是整合公司的各类业务和资源,以业务协同驱动综合业务创新的开展,并探讨了实现这一新型模式的具体措施：组织结构创新、业务流程再造、管理创新。组织结构的创新应当通过引入“金融控股集团”构架(初期可以为“大部门”构架),以增强协同效应和分散业务风险,同时提高管理效率,降低管理成本；业务流程再造应设立“综合业务管理总部”来组织综合业务的开展,提升业务协同效应。通过整合业务资源,信息和人才资源,集中产品研发力量,建立公司客户池,创新服务方法,统一管理渠道等措施,打造完整的证券公司“业务-客户-产品-服务-渠道”价值链；管理创新是激励机制及合规风控机制的建立,通过利益分享和有效的激励政策吸引人才、留住人才,并推动业务的开展,设置公司级综合业务合规风险评估机构对各类创新业务进行综合评估,来提高决策效率、降低业务风险,做到全业务、全风控。最后文章提出了要应用新思想和新技术来改善和变革现有的服务方法、服务流程和服务产品,建立以客户为中心的“服务”新模式,以“服务”打造券商的核心竞争力。 文章共5章,绪论介绍了论文的选题背景、理论基础、文献综述、框架、研究方法、论文贡献及局限性。第二章介绍了HX证券公司业务模式现状及其存在的问题。第三章分析了美国和韩国证券公司业务模式的特点和可供借鉴之处。第四章提出了HX证券公司综合业务模式创新的策略和具体方法。第五章对以“服务”打造HX证券公司核心竞争力的方法和标准进行了阐述。 文章采用了实证分析与应用分析方法,并结合了案例分析与比较分析方法。注意结合实际的运用,以定量分析支持定性的论点。 本文从综合业务模式的角度探讨了HX证券公司的创新发展方向及核心竞争力塑造的思路,作为一种探索,笔者希望能以点带面、以窥见豹对我国证券行业的其他公司提供一个可参照的发展思路,即文章提出的“以业务协同驱动综合业务模式的创新”打造新的核心竞争力,从现有的“以业务设部门”转向“大部门、大风控”,从“单一业务模式”向“综合业务模式”转变,以“提供单一产品和服务”向“提供整体方案”转变,以“一次性的服务”向“长期持续服务”转换,并以创新后的综合业务模式为平台,长期为客户创造价值。 由于本人理论水平的局限,加之工作繁忙,文章对我国证券行业未来影响创新的政策方向的研究有待深入,对阻滞HX证券公司业务充分协同的现有部门间利益格局的分析不够。笔者希望在今后的研究中进一步深化,使综合业务模式下的创新措施更具体、更具操作性。
[Abstract]:Since the establishment of China's securities market, the income and profit sources of securities companies mainly rely on the traditional channel business. Its profitability is highly related to the acquisition of business licenses and the rise and fall of the secondary market. It has great instability, simplicity and extensiveness, high operational risk and relatively low technical content. Compared with banks, trust and other financial institutions, the proportion of business in China's financial industry is shrinking, and their business philosophy, product and service innovation and value creation are lagging behind.
On September 18, 2012, the State promulgated the 12th Five-Year Plan for the Development and Reform of Financial Business, which clarified the objectives of financial reform. In May of the same year, the China Securities Regulatory Commission convened an industry innovation conference and put forward 11 reform and opening-up, innovation and development of securities companies, and successively introduced a series of effective reform measures.
Under the background of financial mixed industry trend and innovative development, domestic securities firms set off a new round of business innovation and service upsurge, innovative methods and means emerge in endlessly. Product and business innovation, seemingly busy, but there is no running through the main line.
The author holds that in the context of big finance, the comparative advantage of securities firms in China is their familiarity with the capital market, their skillful use of various investment and financing tools, and their comparative advantage over banks, insurance and trust financial institutions. All kinds of resources, form the core competitiveness, and create more value by providing systematic solutions to customers are the core objectives of all kinds of innovation. Based on this, this paper takes the innovation of HX Securities Company's comprehensive business model as the research object, explores the way to build a new core competitiveness of the securities company, through creating more for customers. Great value to win future competitive advantage.
Generally speaking, innovation is often manifested by efficiency improvement, cost reduction, differentiated products and services, and more systematic solutions. However, innovation attempts often face conflicts with current benefits. Balance, get rid of the past brokerage business, capital management business, investment banking business segmentation status quo, no longer isolated face the same market and the same customer, to provide a relatively single product and service, on the contrary, the need for the past business processes, management mechanisms to be re-engineered, will not conform to the current trend of management and control means to be cleared up. Innovation is not a single business innovation, not a purposeless impulse, but a purposeful and systematic creation of integrated business model. New, this requires a certain overall outlook and forward-looking management thinking, from the strategic height of the securities company's organizational structure, business processes, management mechanisms and other drastic reform and innovation.
Guided by innovation theory, synergy theory and sustainable development theory of financial industry, this paper analyzes the status quo of traditional business of securities firms in China, and concludes that there are a series of problems in China's securities firms, such as single profitability, insufficient risk resistance and lack of core competitiveness. Then the paper analyzes the current situation and existing problems of HX Securities Company's business, and then analyzes the business model of foreign securities firms (taking the United States and South Korea as an example), from which developed countries can be borrowed. Next, the paper puts forward that under the new market environment, the basic idea of innovating the integrated business model of HX Securities Company is to integrate all kinds of business and resources of the company, and drive the development of integrated business innovation by business collaboration, and discusses the concrete measures to realize this new model: organizational structure innovation, business process reengineering. The innovation of organizational structure should enhance synergy and disperse business risks by introducing a "financial holding group" framework (initially a "large department" framework), while improving management efficiency and reducing management costs; and business process reengineering should establish a "comprehensive business management headquarters" to organize the opening of integrated business. By integrating business resources, information and human resources, concentrating product R&D efforts, establishing corporate customer pool, innovating service methods, and unifying management channels, we can build a complete value chain of "business-customer-product-service-channel" for securities companies. Management innovation is an incentive mechanism and a compliance wind control mechanism. Establishment, through benefit sharing and effective incentive policies to attract talent, retain talent, and promote the development of business, set up a company-level comprehensive business compliance risk assessment agencies for all kinds of innovative business comprehensive assessment, to improve decision-making efficiency, reduce business risks, to achieve full business, full wind control. Want and new technology to improve and reform the existing service methods, service processes and service products, establish a customer-centered "service" new model, to "service" to build the core competitiveness of brokerage.
The introduction introduces the background, theoretical basis, literature review, framework, research methods, contribution and limitations of the thesis. The second chapter introduces the current situation and existing problems of the business model of HX Securities Company. The third chapter analyzes the characteristics of the business model of American and Korean securities companies and points for reference. In the fifth chapter, the methods and standards of building the core competitiveness of HX securities company by "service" are expounded.
This paper adopts empirical analysis and applied analysis method, and combines case analysis and comparative analysis method. Attention should be paid to the practical application to support the qualitative argument by quantitative analysis.
This paper discusses the innovative development direction of HX Securities Company and the idea of shaping its core competitiveness from the perspective of integrated business model. As an exploration, the author hopes to provide a reference for other companies in China's securities industry with a point-by-point view, that is, "driving the integrated industry with business synergy". The innovation of business model will create new core competitiveness, from the existing "set up departments with business" to "large departments, big wind control", from "single business model" to "integrated business model", from "provide a single product and service" to "provide a whole solution" to "one-time service" to "long-term sustainable service" "Conversion" and create a value for customers through the innovative integrated business model.
Because of the limitation of my theoretical level and the busy work, the paper has to study the policy direction which will affect the future innovation of the securities industry in our country, and the analysis of the existing interdepartmental interest pattern which blocks the full coordination of the business of HX securities company is not enough. Innovative measures are more specific and more operational.
【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.39
本文编号：2197006
[Abstract]:Since the establishment of China's securities market, the income and profit sources of securities companies mainly rely on the traditional channel business. Its profitability is highly related to the acquisition of business licenses and the rise and fall of the secondary market. It has great instability, simplicity and extensiveness, high operational risk and relatively low technical content. Compared with banks, trust and other financial institutions, the proportion of business in China's financial industry is shrinking, and their business philosophy, product and service innovation and value creation are lagging behind.
On September 18, 2012, the State promulgated the 12th Five-Year Plan for the Development and Reform of Financial Business, which clarified the objectives of financial reform. In May of the same year, the China Securities Regulatory Commission convened an industry innovation conference and put forward 11 reform and opening-up, innovation and development of securities companies, and successively introduced a series of effective reform measures.
Under the background of financial mixed industry trend and innovative development, domestic securities firms set off a new round of business innovation and service upsurge, innovative methods and means emerge in endlessly. Product and business innovation, seemingly busy, but there is no running through the main line.
The author holds that in the context of big finance, the comparative advantage of securities firms in China is their familiarity with the capital market, their skillful use of various investment and financing tools, and their comparative advantage over banks, insurance and trust financial institutions. All kinds of resources, form the core competitiveness, and create more value by providing systematic solutions to customers are the core objectives of all kinds of innovation. Based on this, this paper takes the innovation of HX Securities Company's comprehensive business model as the research object, explores the way to build a new core competitiveness of the securities company, through creating more for customers. Great value to win future competitive advantage.
Generally speaking, innovation is often manifested by efficiency improvement, cost reduction, differentiated products and services, and more systematic solutions. However, innovation attempts often face conflicts with current benefits. Balance, get rid of the past brokerage business, capital management business, investment banking business segmentation status quo, no longer isolated face the same market and the same customer, to provide a relatively single product and service, on the contrary, the need for the past business processes, management mechanisms to be re-engineered, will not conform to the current trend of management and control means to be cleared up. Innovation is not a single business innovation, not a purposeless impulse, but a purposeful and systematic creation of integrated business model. New, this requires a certain overall outlook and forward-looking management thinking, from the strategic height of the securities company's organizational structure, business processes, management mechanisms and other drastic reform and innovation.
Guided by innovation theory, synergy theory and sustainable development theory of financial industry, this paper analyzes the status quo of traditional business of securities firms in China, and concludes that there are a series of problems in China's securities firms, such as single profitability, insufficient risk resistance and lack of core competitiveness. Then the paper analyzes the current situation and existing problems of HX Securities Company's business, and then analyzes the business model of foreign securities firms (taking the United States and South Korea as an example), from which developed countries can be borrowed. Next, the paper puts forward that under the new market environment, the basic idea of innovating the integrated business model of HX Securities Company is to integrate all kinds of business and resources of the company, and drive the development of integrated business innovation by business collaboration, and discusses the concrete measures to realize this new model: organizational structure innovation, business process reengineering. The innovation of organizational structure should enhance synergy and disperse business risks by introducing a "financial holding group" framework (initially a "large department" framework), while improving management efficiency and reducing management costs; and business process reengineering should establish a "comprehensive business management headquarters" to organize the opening of integrated business. By integrating business resources, information and human resources, concentrating product R&D efforts, establishing corporate customer pool, innovating service methods, and unifying management channels, we can build a complete value chain of "business-customer-product-service-channel" for securities companies. Management innovation is an incentive mechanism and a compliance wind control mechanism. Establishment, through benefit sharing and effective incentive policies to attract talent, retain talent, and promote the development of business, set up a company-level comprehensive business compliance risk assessment agencies for all kinds of innovative business comprehensive assessment, to improve decision-making efficiency, reduce business risks, to achieve full business, full wind control. Want and new technology to improve and reform the existing service methods, service processes and service products, establish a customer-centered "service" new model, to "service" to build the core competitiveness of brokerage.
The introduction introduces the background, theoretical basis, literature review, framework, research methods, contribution and limitations of the thesis. The second chapter introduces the current situation and existing problems of the business model of HX Securities Company. The third chapter analyzes the characteristics of the business model of American and Korean securities companies and points for reference. In the fifth chapter, the methods and standards of building the core competitiveness of HX securities company by "service" are expounded.
This paper adopts empirical analysis and applied analysis method, and combines case analysis and comparative analysis method. Attention should be paid to the practical application to support the qualitative argument by quantitative analysis.
This paper discusses the innovative development direction of HX Securities Company and the idea of shaping its core competitiveness from the perspective of integrated business model. As an exploration, the author hopes to provide a reference for other companies in China's securities industry with a point-by-point view, that is, "driving the integrated industry with business synergy". The innovation of business model will create new core competitiveness, from the existing "set up departments with business" to "large departments, big wind control", from "single business model" to "integrated business model", from "provide a single product and service" to "provide a whole solution" to "one-time service" to "long-term sustainable service" "Conversion" and create a value for customers through the innovative integrated business model.
Because of the limitation of my theoretical level and the busy work, the paper has to study the policy direction which will affect the future innovation of the securities industry in our country, and the analysis of the existing interdepartmental interest pattern which blocks the full coordination of the business of HX securities company is not enough. Innovative measures are more specific and more operational.
【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.39
【参考文献】
相关期刊论文 前5条
1 杨彩林;我国券商整体亏损:原因及应对措施[J];财经理论与实践;2005年04期
2 徐丽梅;我国券商盈利模式构建[J];经济理论与经济管理;2005年01期
3 史隽;杨琴艳;;浅析我国银行业金融服务创新[J];经济论坛;2006年22期
4 葛红玲;;我国证券公司盈利模式创新问题研究[J];经济论坛;2008年20期
5 陈颖;范江峰;;证券公司创新业务中的合规管理机制探讨[J];中国证券期货;2012年07期
，本文编号：2197006
本文链接：https://www.wllwen.com/guanlilunwen/bankxd/2197006.html
