上市证券公司的收入结构分析与比较研究
发布时间：2018-08-21 20:24
【摘要】：1987年9月,中国第一家“试验田”特区证券公司—巨田证券成立。证券公司的成立、发展、成长与金融市场稳定性密切相关,虽然其已经取得巨大成就,但“靠天吃饭”的收入结构格局没有根本改变。2008年,次贷危机,2015年,股市暴涨暴跌,极端的市场行情给依靠传统业务经营的证券公司带来灾难,让证券公司面临亏损。因此,本文以提出问题—分析原因—解决问题的思路,对证券公司收入结构存在的问题给予建议,以提升证券公司的综合竞争力。本文采用数据统计、图表分析、案例分析相结合的方法。收集24家上市证券公司2013.12.31—2016.6.30期间的收入占比数据进行专项研究。第一,定义并且分类证券公司收入结构,主要对证券公司收入结构发展特性和规律进行总结。第二,对上市证券公司整体收入结构问题分析和原因探析。第三,比较分析不同类别证券公司收入结构与盈利能力的差异、共性,并在每类别公司中选取两家公司作为内部比较,分析差异、共性。本文得出结论:(1)证券公司有独特的收入结构发展规律(2)上市证券公司存在依赖传统业务,经营风险加剧;创新业务不断发展,但受到阻碍;业务不合规,缺乏风险防御机制;成本增加,成本管理能力需加强;同质化现象严重,缺差异化经营的现状和问题(3)创新类、全国类证券公司收入结构异于规范类、区域类证券公司收入结构,前者盈利能力优于后者。并据此提出意见和建议。
[Abstract]:In September 1987, China's first "experimental field" Special Zone Securities Company-Jutian Securities was established. The establishment, development and growth of securities companies are closely related to the stability of financial markets. Although they have made great achievements, the income structure of "living by heaven" has not fundamentally changed. In 2008, the subprime mortgage crisis, and 2015, the stock market soared and plummeted. Extreme market conditions have brought disaster to securities firms that rely on traditional business operations, leaving them facing losses. Therefore, in order to improve the comprehensive competitiveness of securities companies, this paper puts forward the ideas of problem-analysis and problem-solving, and gives some suggestions on the problems existing in the income structure of securities companies. This article uses the data statistics, the chart analysis, the case analysis unifies the method. Collect 24 listed securities companies' income share data for the period from December 31 to June 30, 2013 for a special study. First, it defines and classifies the income structure of securities companies, mainly summarizes the characteristics and rules of the development of income structure of securities companies. Second, the overall income structure of listed securities companies and the analysis of the reasons. Thirdly, we compare and analyze the differences and commonalities between the income structure and profitability of different types of securities companies, and select two companies in each category as internal comparison, analyze the differences and commonalities. The conclusion of this paper is as follows: (1) securities companies have unique rules of income structure development; (2) listed securities companies rely on traditional business and increase the risk of operation; With the increase of cost, the ability of cost management needs to be strengthened, the phenomenon of homogeneity is serious, and the present situation and problems of differential management are lacking. (3) the income structure of national securities companies is different from that of standard ones, and the income structure of regional securities companies is different from that of regional securities companies. The former is superior to the latter. And put forward the opinion and suggestion accordingly.
【学位授予单位】：安徽工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.39
本文编号：2196249
[Abstract]:In September 1987, China's first "experimental field" Special Zone Securities Company-Jutian Securities was established. The establishment, development and growth of securities companies are closely related to the stability of financial markets. Although they have made great achievements, the income structure of "living by heaven" has not fundamentally changed. In 2008, the subprime mortgage crisis, and 2015, the stock market soared and plummeted. Extreme market conditions have brought disaster to securities firms that rely on traditional business operations, leaving them facing losses. Therefore, in order to improve the comprehensive competitiveness of securities companies, this paper puts forward the ideas of problem-analysis and problem-solving, and gives some suggestions on the problems existing in the income structure of securities companies. This article uses the data statistics, the chart analysis, the case analysis unifies the method. Collect 24 listed securities companies' income share data for the period from December 31 to June 30, 2013 for a special study. First, it defines and classifies the income structure of securities companies, mainly summarizes the characteristics and rules of the development of income structure of securities companies. Second, the overall income structure of listed securities companies and the analysis of the reasons. Thirdly, we compare and analyze the differences and commonalities between the income structure and profitability of different types of securities companies, and select two companies in each category as internal comparison, analyze the differences and commonalities. The conclusion of this paper is as follows: (1) securities companies have unique rules of income structure development; (2) listed securities companies rely on traditional business and increase the risk of operation; With the increase of cost, the ability of cost management needs to be strengthened, the phenomenon of homogeneity is serious, and the present situation and problems of differential management are lacking. (3) the income structure of national securities companies is different from that of standard ones, and the income structure of regional securities companies is different from that of regional securities companies. The former is superior to the latter. And put forward the opinion and suggestion accordingly.
【学位授予单位】：安徽工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.39
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