我国证券公司投资银行经营模式研究

发布时间：2018-03-10 08:07

本文选题：证券公司　切入点：投资银行　出处：《北京邮电大学》2014年硕士论文　论文类型：学位论文

【摘要】：证券市场经过二十几年的快速发展,投资银行已经成为证券公司的重要组成部分,我国证券公司投资银行建立了与自身相适应的经营模式。但随着IPO的暂停,承销业务量不断下降,以及中国证监会加强投资银行的监管,使得投资银行经营模式所依赖的环境发生了巨大变化。同时,2013年万福生科造假上市等一系列事件对投资银行产生了深远影响,投资银行面临的经营风险加大。由于市场环境的变化,要求我国证券公司投资银行对自身的经营模式进行战略性和适应性调整。文章以证券公司投资银行部门的经营模式为研究对象,以发展历程与现状着手,从规模、地位和作用等方面分析了我国证券公司投资银行的基本情况。另外,在描述我国证券公司投资银行经营模式基本情况的基础上,通过“中信模式”和“国信模式”两个典型案例对我国证券公司投资银行经营模式进行剖析。对影响投资银行经营模式的环境分析,在此基础上,通过波特五力模型和SWOT分析,得出当前环境下我国证券公司投资银行经营模式的路径选择,得出中小证券公司投资银行应采取“风险控制为核心”的经营模式和大型证券公司投资银行应当采取“效益管理为核心”的经营模式的结论,并对我国证券公司投资银行经营模式的选择路径所面临的问题和创新发展进行了分析与展望。
[Abstract]:After more than 20 years of rapid development of the securities market, investment banks have become an important part of the securities companies. The investment banks of China's securities companies have established a business model suitable for themselves. However, with the suspension of IPO, The volume of underwriting has continued to decline, and the China Securities Regulatory Commission has strengthened the supervision of investment banks. The environment on which the investment banking business model depends has changed dramatically. At the same time, in 2013, a series of events, such as the counterfeiting and listing of Wanfusheng Branch, had a profound impact on the investment banks. Due to the change of market environment, investment banks of China's securities companies are required to adjust their own business models strategically and adaptively. This paper takes the management model of the investment banking department of the securities company as the research object, proceeds with the development course and the present situation, and analyzes the basic situation of the investment bank of the securities company in China from the aspects of scale, status and function. On the basis of describing the basic situation of the investment banking business model of China's securities companies, Through two typical cases of "CITIC Model" and "Guoxin Mode", this paper analyzes the investment bank management model of China's securities companies. On the basis of the analysis of the environment that affects the investment bank management model, the paper analyzes the model by Porter's five Force Model and SWOT. The path choice of investment bank management mode of China's securities companies under the current environment is obtained. The conclusion is that the investment banks of small and medium-sized securities companies should adopt the management mode of "risk control as the core" and the investment banks of large securities companies should adopt the "benefit management as the core" business model. At the same time, the paper analyzes and prospects the problems and innovative development of investment bank management mode of securities companies in China.
【学位授予单位】：北京邮电大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F272.3;F832.39

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