证券公司综合金融服务盈利模式的研究
发布时间：2019-05-07 06:26
【摘要】：证券公司是指依法设立并经国家证券监管机构审批完毕,以证券经营为业务内容,具备独立法人资格的商业机构,组织形式可以为有限责任制或股份有限制。综合金融服务是指在遵循现有法律体系框架的前提下,金融集团为服务对象提供某一项金融服务时,兼顾提供其他类型的证券、保险、银行等一系列组合服务。盈利模式为按照利益相关者划分的企业的收入结构、成本结构以及相应的目标利润。随着我国证券市场进入改革发展的重要时期,互联网金融发展迅猛,严重影响了证券公司传统的经营模式。证券公司为适应新的发展要求,经营模式已经出现了重要的转变,在客户对综合金融服务的需求与日俱增的背景下,促使证券公司从传统的通道业务向综合金融服务转型,其中以资产管理业务,信用业务,创新业务的发展最为突出。本文从现实意义出发,首先针对证券公司综合金融服务的相关概念进行研究,回顾我国证券公司伴随历次金融改革针对客户服务做出的诸多尝试,进而总结出数十年的成功与失败。其次对我国证券公司综合金融服务的内容进行全面的研究分析,并将以股权质押融资业务、FOF、MOM以及证券公司资产证券化为代表的创新业务进行重点分析。将现阶段我国证券公司可以开展的业务类型,创新成果以及发展前景予以剖析,作为研究证券公司综合金融服务的具体内容。再次分析讨论我国证券公司综合金融服务盈利模式以及今后的发展趋势,针对每项业务的收入模式以及优劣进行分析,进而得出现阶段我国证券公司综合金融服务盈利模式的特点。最后将国外发达市场中成熟金融机构的发展路径进行讨论,总结国际资本市场中证券公司的业务构成以及盈利模式分析,得出在我国现行法律制度框架下,可以借鉴的发展模式并总结各种发展模式的优劣。本文以证券公司的角度进行研究,在监管放松,行业积极创新的大背景下,针对现阶段证券公司可以为个人客户、机构客户提供的综合金融服务的内容以及有代表性的创新业务,进行重点深入的研究,在证券公司业务模式创新改革的大背景下,进行整体盈利模式的合理分析,对升级传统业务盈利模式,改变证券公司收入结构等方面具有积极作用。
[Abstract]:A securities company refers to a commercial institution established in accordance with law and approved by the state securities regulatory authority, which takes securities operation as its business content and possesses the status of an independent legal person. The organizational form may be limited responsibility system or limited shares. Integrated financial services refers to a series of combined services, such as securities, insurance, banks and so on, when a financial group provides a certain financial service to its clients under the premise of following the existing legal framework. The profit model is the income structure, the cost structure and the corresponding target profit of the enterprise according to the stakeholders. With China's securities market entering an important period of reform and development, the rapid development of Internet finance has seriously affected the traditional business model of securities companies. In order to adapt to the new development requirements, securities companies have undergone an important change in their business model. Under the background of increasing demand for integrated financial services from customers, securities companies have been transformed from traditional channel business to integrated financial services. Among them, asset management business, credit business, innovation business development is the most prominent. This article starts from the realistic meaning, first of all carries on the research to the securities company comprehensive financial service related concept, reviews our country securities company accompany the previous financial reform to the customer service to make a lot of attempts, And then summed up decades of success and failure. Secondly, the contents of comprehensive financial services of securities companies in China are studied and analyzed comprehensively, and the innovative business represented by equity pledge financing business, FOF,MOM and asset securitization of securities companies is analyzed emphatically. This paper analyzes the business types, innovative achievements and development prospects of securities companies in China at present, as the specific content of comprehensive financial services of securities companies. Thirdly, this paper analyzes and discusses the profit-making mode of comprehensive financial services of securities companies in China and the development trend in the future, and analyzes the income model of each business as well as the advantages and disadvantages of each business. And then draw the current stage of China's securities companies comprehensive financial services profit model characteristics. Finally, the paper discusses the development path of mature financial institutions in foreign developed markets, summarizes the business composition and profit model of securities companies in the international capital market, and draws a conclusion that under the framework of the current legal system of our country, We can draw lessons from the development model and summarize the advantages and disadvantages of various development models. This article carries on the research from the securities company's angle, under the background of the deregulation of the supervision and the active innovation of the industry, aiming at the present stage, the securities company can be the individual customer, The contents of the integrated financial services provided by institutional customers and the representative innovative business are focused on in-depth research and reasonable analysis of the overall profit model is carried out under the background of the innovation and reform of the securities company's business model. It plays a positive role in upgrading the traditional business profit model and changing the income structure of securities companies.
【学位授予单位】：对外经济贸易大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.39
，
本文编号：2470840
[Abstract]:A securities company refers to a commercial institution established in accordance with law and approved by the state securities regulatory authority, which takes securities operation as its business content and possesses the status of an independent legal person. The organizational form may be limited responsibility system or limited shares. Integrated financial services refers to a series of combined services, such as securities, insurance, banks and so on, when a financial group provides a certain financial service to its clients under the premise of following the existing legal framework. The profit model is the income structure, the cost structure and the corresponding target profit of the enterprise according to the stakeholders. With China's securities market entering an important period of reform and development, the rapid development of Internet finance has seriously affected the traditional business model of securities companies. In order to adapt to the new development requirements, securities companies have undergone an important change in their business model. Under the background of increasing demand for integrated financial services from customers, securities companies have been transformed from traditional channel business to integrated financial services. Among them, asset management business, credit business, innovation business development is the most prominent. This article starts from the realistic meaning, first of all carries on the research to the securities company comprehensive financial service related concept, reviews our country securities company accompany the previous financial reform to the customer service to make a lot of attempts, And then summed up decades of success and failure. Secondly, the contents of comprehensive financial services of securities companies in China are studied and analyzed comprehensively, and the innovative business represented by equity pledge financing business, FOF,MOM and asset securitization of securities companies is analyzed emphatically. This paper analyzes the business types, innovative achievements and development prospects of securities companies in China at present, as the specific content of comprehensive financial services of securities companies. Thirdly, this paper analyzes and discusses the profit-making mode of comprehensive financial services of securities companies in China and the development trend in the future, and analyzes the income model of each business as well as the advantages and disadvantages of each business. And then draw the current stage of China's securities companies comprehensive financial services profit model characteristics. Finally, the paper discusses the development path of mature financial institutions in foreign developed markets, summarizes the business composition and profit model of securities companies in the international capital market, and draws a conclusion that under the framework of the current legal system of our country, We can draw lessons from the development model and summarize the advantages and disadvantages of various development models. This article carries on the research from the securities company's angle, under the background of the deregulation of the supervision and the active innovation of the industry, aiming at the present stage, the securities company can be the individual customer, The contents of the integrated financial services provided by institutional customers and the representative innovative business are focused on in-depth research and reasonable analysis of the overall profit model is carried out under the background of the innovation and reform of the securities company's business model. It plays a positive role in upgrading the traditional business profit model and changing the income structure of securities companies.
【学位授予单位】：对外经济贸易大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.39
，
本文编号：2470840
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