我国股票承销区域合作网络的实证研究

发布时间：2018-04-29 14:42

本文选题：股票承销 + 合作网络　；参考：《广西大学》2013年硕士论文

【摘要】：由于受到全球经济一体化影响以及我国近年来资本市场改革的影响,我国证券公司投资银行业务正由高度依赖政治因素转变为依靠市场定价机制和合作承销的模式。由于合作承销具有将风险进行分散、获取更多承销资源和提升并巩固证券公司在行业的地位等重要作用,合作承销逐渐的被各家证券公司所重视,并且在受区域经济影响的基础上形成了股票承销区域合作网络。我国股票承销区域合作网络具有怎样的属性、特征,各区域在承销合作网络中具有怎样的地位,是一个值得重点关注的问题。本文正式基于以上的背景,对证券公司区域间股票承销合作网络进行研究。文章的第二部分分析了我国股票承销的现状以及股票承销区域合作网络的发展原因,在此基础上第三部分利用了密度、中心度和网络拓扑结构、这些整体网络基本分析方法对区域间股票承销合作网络进行了测度；并且利用了核心—边缘的离散模型和连续模型对区域间股票承销合作网络中各个元素的核心程度及对部分元素组成的凝聚子群进行了测度。第三部分末尾总结了关于整体网及个体网属性方面的研究结论：(1)股票区域间联合承销网络整体是具有凝聚性的；(2)在股票承销区域合作网络中,各个地区的网络地位有很大的差异；(3)处于网络核心位置的地区之间的股票承销合作十分紧密；(4)处在非核心位置的地区之间联系较少,它们比较倾向于与处在核心部分的地区合作；(5)各派系中重叠的区域比较大。并在此基础上就对未来区域证券业的发展和提高证券业竞争力以及区域协调发展提出了相关的建议。
[Abstract]:Due to the influence of global economic integration and the capital market reform in China in recent years, the investment banking business of China's securities companies is changing from highly dependent on political factors to a mode of relying on market pricing mechanism and cooperative underwriting. Because cooperative underwriting plays an important role in dispersing risks, obtaining more underwriting resources and enhancing and consolidating the position of securities companies in the industry, cooperative underwriting has gradually been attached importance to by various securities companies. And on the basis of the influence of regional economy, the regional cooperation network of stock underwriting is formed. What kind of attribute and characteristics of the regional cooperative network of stock underwriting in our country, and what kind of position each region has in the cooperative network of underwriting, is a problem that deserves to be paid more attention to. Based on the above background, this paper studies the inter-regional stock underwriting cooperative network of securities companies. The second part of the paper analyzes the current situation of stock underwriting in China and the reasons for the development of regional cooperative network of stock underwriting. On the basis of this, the third part uses density, centrality and network topology. These basic analysis methods measure the inter-regional stock underwriting cooperative network. The core-edge discrete model and continuous model are used to measure the core degree of each element and the condensed subgroup of some elements in the inter-regional stock underwriting cooperative network. At the end of the third part, the conclusion of the research on the attributes of the whole network and the individual network is concluded: 1) the stock joint underwriting network is a condensed regional cooperative network. The network status of each region is very different. (3) the stock underwriting cooperation between the regions at the core of the network is very close. (4) there is less connection between the regions in the non-core position. They tend to overlap with the core regional groups. On the basis of this, some suggestions are put forward for the future development of the regional securities industry, the improvement of the competitiveness of the securities industry and the coordinated development of the region.
【学位授予单位】：广西大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51

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