我国中小型券商之证券经纪业务创新研究

发布时间：2018-06-23 01:17

本文选题：中小型券商 + 经纪业务　；参考：《西南财经大学》2012年硕士论文

【摘要】：经过二十多年的发展,我国证券业发展至今已初具规模,其中不乏有资金实力雄厚、经营能力很强的中金公司、中信证券、申银万国等这样的综合类大券商。与此同时,还有数量较多的中小型券商也占有相当一部分的市场份额。在国际资本市场迅速发展和创新转型的大背景下,中小型券商如何应对内外挑战,在竞争日趋激烈的证券业内生存并发展壮大,将是中小型券商必须面对的难题。本文选取我国西北最大的证券公司之一、甘肃省唯一的法人券商------华龙证券有限责任公司作为研究对象,以其作为我国中小型券商的代表进行研究分析。在我国特定“新兴加转轨”的市场阶段,创新是一项伴随证券公司发展的经常性活动,创新能力是体现证券公司核心竞争力的重要指标之一。佣金收入一直是券商利润中最稳定的一部分,但它却深的影响,所系券商,尤其是中小券商进行针对性、系统性的创新转型发展迫在眉睫。经纪业务是证券公司的基础业务,也是证券公司开展创新活动的重点,这也是本文的定题意义所在。当前行业存在的突出问题是,证券公司在服务实体经济转型升级和改革发展、满足企业和居民多元化的投融资需求等方面的专业服务能力不足,与银行、信托等金融同业和国际先进投行相比,不可替代的核心竞争力尚未完全形成。近年来市场持续低迷,证券公司传统业务盈利水平大幅下滑,而银行、信托的理财业务和投资银行业务快速增长,证券公司专业服务能力不足、不能适应市场需求及时有效推出新产品新服务的问题充分暴露。目前是证券行业有史以来运作最规范、财务最稳健、基础最厚实的时期,但也是证券公司,尤其是中小型券商面临压力和挑战最大的时期之一；随着多层次资本市场建设的加快推进和新股发行、信用债券、金融期货等方面的改革创新深入开展,市场的广度和深度正在拓展。综合判断,进一步推进证券公司改革开放与创新发展的时机已经成熟,行业进入以创新发展为主导阶段的基本条件已经具备。本文在对我国中小型券商的经纪业务创新研究中,选择以华龙证券有限责任公司为案例,通过剖析其经纪业发展现状及瓶颈,提出我国中小型券商之证券经纪业务发展创新思路,为整个证券市场中的中小券商之经纪业务创新发展提供一般思路,引导行业内的证券经纪业务的发展和创新思路,给出发展对策和建议,为中小券商发展和转型提供动力。
[Abstract]:After more than 20 years of development, China's securities industry has begun to take shape so far, among which there are many such comprehensive large securities firms as China International Capital Corporation, CITIC Securities and Shenyin Wanguo, which have strong capital strength and strong management ability. At the same time, there are a large number of small and medium-sized securities firms also have a considerable share of the market share. Under the background of rapid development and innovation transformation of international capital market, it will be a difficult problem for small and medium-sized securities companies to cope with internal and external challenges and survive and develop in the increasingly competitive securities industry. In this paper, one of the largest securities companies in Northwest China, the only legal person in Gansu Province-Hualong Securities Co., Ltd. as the research object, with its small and medium-sized securities companies as the representative of the study. Innovation is a regular activity accompanied by the development of securities companies in the specific market stage of "emerging and transforming" in China, and innovation ability is one of the important indicators to reflect the core competitiveness of securities companies. The commission income has always been the most stable part of the brokerage profit, but it has a deep influence, which is targeted by the securities companies, especially the small and medium-sized securities companies, so the systematic innovation and transformation is urgent. Brokerage business is the basic business of securities companies, but also the focus of innovative activities of securities companies, which is the significance of this paper. At present, the outstanding problems in the industry are that the securities companies have insufficient professional service capacity in serving the transformation, upgrading, reform and development of the real economy, meeting the diversified investment and financing needs of enterprises and residents, and the banks, Trust and other financial industry and international advanced investment banks, irreplaceable core competitiveness has not yet been fully formed. In recent years, the market has remained in the doldrums, and the profit level of the traditional business of securities companies has dropped substantially, while the banking, trust and investment banking business has grown rapidly, and the professional service capacity of securities companies has been insufficient. Can not adapt to market demand timely and effective introduction of new products and services problems fully exposed. At present, it is the period of the most standardized operation, the most stable finance and the most solid foundation in the history of the securities industry, but it is also one of the periods when the securities companies, especially the small and medium-sized securities firms, are facing the greatest pressure and challenge. With the rapid development of multi-level capital market and the reform and innovation of new issue, credit bond, financial futures and so on, the breadth and depth of the market are being expanded. Comprehensive judgment shows that the time is ripe to further promote the reform and opening up and innovation and development of securities companies, and the basic conditions for the industry to enter the stage of leading by innovation and development have been met. In this paper, we choose Hualong Securities Co., Ltd as a case to analyze the current situation and bottleneck of brokerage business innovation of small and medium-sized securities companies in China. This paper puts forward the innovative ideas of the securities brokerage business development of the small and medium-sized securities firms in China, provides the general ideas for the innovation and development of the securities brokerage business in the whole securities market, and guides the development and innovation ideas of the securities brokerage business in the industry. Give the development countermeasures and suggestions for the development and transformation of small and medium-sized securities companies to provide impetus.
【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.39;F276.3

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