上海股权托管交易中心发展战略研究
发布时间：2018-08-25 14:02
【摘要】：上海股权托管交易中心（以下简称“股交中心”）是经由上海市政府批准，于2012年2月启动运营的场外交易平台，，是市政府贯彻落实国家关于“建设完善我国多层次资本市场体系”这一战略部署的重要举措。作为我国国际金融中心上海所建立的场外市场平台，股交中心在解决中小企业融资难问题、发挥金融支持实体经济和支持自主创新发展作用上，被寄予了厚望。 本文以境内外主要场外交易市场的发展情况为起点，总结其发展特色和规律作为股交中心平台构建的借鉴，再介绍我国场外交易市场以及上海股交中心的发展历程，详细分析股交中心建设运营情况，找出其发展中的问题并进行原因分析。随后，一方面通过波特五力模型重点对其客户及其需求、平台竞争情况做分析，梳理出平台三大参与方，即融资企业、投资者、会员服务机构之间的供需循环模型；另一方面运用SWOT模型找出股交中心发展的外部机会和威胁以及自身资源的优势和劣势，将两方面结合考虑以寻找突破发展瓶颈的方法对策和发展战略。最后得出以下结论：要打开平台冷清的局面，实现“解决中小企业融资困难、发挥金融支持实体经济和创新发展”的目标，不能只着眼于中小企业的需求，而要把市场参与者之间的供需正循环建立起来，打造以客户需求为导向的综合性金融平台。为此建议股交中心重点采取增长型战略，并从三方面入手：一是以平台主体的需求和供需关系为基础，通过板块、制度、产品创新提升平台功能和需求配对效率；二是加强市场推广和培育，通过合作和宣介扩大市场规模和影响力；三是加快人才队伍建设，建立培训体系，提升平台的持续创新能力和服务水平。
[Abstract]:The Shanghai Equity Trusteeship Exchange Center (hereinafter referred to as the "Stock Exchange Center") is an over-the-counter trading platform that was launched in February 2012 with the approval of the Shanghai Municipal Government. It is an important measure for the municipal government to carry out the strategic plan of "building and perfecting our country's multi-level capital market system". As the over-the-counter market platform established by Shanghai, China's international financial center, the stock exchange center is expected to solve the financing difficulties of small and medium-sized enterprises, to give full play to the role of financial support to the real economy and to support the development of independent innovation. Based on the development of the main OTC markets at home and abroad, this paper summarizes the characteristics and rules of its development as a reference for the construction of the stock exchange center platform, and then introduces the development course of the OTC market in China and the Shanghai Stock Exchange Center. Analyze the construction and operation of the center in detail, find out the problems in its development and analyze the reasons. Then, on the one hand, it analyzes the customers and their needs and the platform competition through Porter's five-force model, combing out the supply and demand cycle model among the three major participants of the platform, that is, financing enterprises, investors, and member service institutions. On the other hand, the SWOT model is used to find out the external opportunities and threats of the development of the stock exchange center, as well as the advantages and disadvantages of its own resources, and to combine the two aspects to find the method and strategy to break through the bottleneck of development. Finally, the following conclusions are drawn: to open the platform to the cold, to achieve the goal of "solving the financing difficulties of SMEs, giving full play to financial support for the real economy and innovative development", can not only focus on the needs of small and medium-sized enterprises. We should set up a comprehensive financial platform based on customer demand-oriented by establishing the supply and demand cycle between market participants. Therefore, it is suggested that the center of stock exchange should adopt the growth strategy, and proceed from three aspects: first, based on the demand and supply relationship of the main body of the platform, through the plate, system, product innovation to enhance the efficiency of platform function and demand matching; The second is to strengthen market promotion and cultivation, to expand the market scale and influence through cooperation and communication, and third, to accelerate the construction of talent team, to establish training system, and to enhance the continuous innovation ability and service level of the platform.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51
本文编号：2203093
[Abstract]:The Shanghai Equity Trusteeship Exchange Center (hereinafter referred to as the "Stock Exchange Center") is an over-the-counter trading platform that was launched in February 2012 with the approval of the Shanghai Municipal Government. It is an important measure for the municipal government to carry out the strategic plan of "building and perfecting our country's multi-level capital market system". As the over-the-counter market platform established by Shanghai, China's international financial center, the stock exchange center is expected to solve the financing difficulties of small and medium-sized enterprises, to give full play to the role of financial support to the real economy and to support the development of independent innovation. Based on the development of the main OTC markets at home and abroad, this paper summarizes the characteristics and rules of its development as a reference for the construction of the stock exchange center platform, and then introduces the development course of the OTC market in China and the Shanghai Stock Exchange Center. Analyze the construction and operation of the center in detail, find out the problems in its development and analyze the reasons. Then, on the one hand, it analyzes the customers and their needs and the platform competition through Porter's five-force model, combing out the supply and demand cycle model among the three major participants of the platform, that is, financing enterprises, investors, and member service institutions. On the other hand, the SWOT model is used to find out the external opportunities and threats of the development of the stock exchange center, as well as the advantages and disadvantages of its own resources, and to combine the two aspects to find the method and strategy to break through the bottleneck of development. Finally, the following conclusions are drawn: to open the platform to the cold, to achieve the goal of "solving the financing difficulties of SMEs, giving full play to financial support for the real economy and innovative development", can not only focus on the needs of small and medium-sized enterprises. We should set up a comprehensive financial platform based on customer demand-oriented by establishing the supply and demand cycle between market participants. Therefore, it is suggested that the center of stock exchange should adopt the growth strategy, and proceed from three aspects: first, based on the demand and supply relationship of the main body of the platform, through the plate, system, product innovation to enhance the efficiency of platform function and demand matching; The second is to strengthen market promotion and cultivation, to expand the market scale and influence through cooperation and communication, and third, to accelerate the construction of talent team, to establish training system, and to enhance the continuous innovation ability and service level of the platform.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51
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