本文選題：證券經(jīng)紀(jì)業(yè)務(wù) + 傭金��； 參考：《河南大學(xué)》2012年碩士論文

【摘要】：眾所周知，我國(guó)券商行業(yè)的絕大部分收入來(lái)源于經(jīng)紀(jì)業(yè)務(wù)，而經(jīng)紀(jì)業(yè)務(wù)收入的絕大部分又來(lái)源于“傳統(tǒng)”經(jīng)紀(jì)業(yè)務(wù)，即傭金業(yè)務(wù)。隨著我國(guó)于2002年開(kāi)始實(shí)行浮動(dòng)傭金率制度，各大中小型證券公司爭(zhēng)相降低傭金費(fèi)率，以致“傭金戰(zhàn)”愈演愈烈，并于2009和2010年達(dá)到最高峰。我國(guó)證券市場(chǎng)的這種“短板”現(xiàn)象，現(xiàn)在已經(jīng)并且在不久的將來(lái)肯定還會(huì)大大限制我國(guó)證券整體業(yè)務(wù)的發(fā)展和創(chuàng)新。因此，在這樣一種背景下，研究經(jīng)紀(jì)業(yè)務(wù)盈利模式問(wèn)題，從而提出一些新的盈利模式的對(duì)策，在證券公司自身的生存和發(fā)展需要這一方面以及在抵御國(guó)外投行業(yè)務(wù)的沖擊，迎接金融全球化的競(jìng)爭(zhēng)這一方面，就顯得急迫而具有現(xiàn)實(shí)意義。 本文理性地從“提出問(wèn)題——分析問(wèn)題——解決問(wèn)題”這樣的思路系統(tǒng)分析了我國(guó)證券經(jīng)紀(jì)業(yè)務(wù)的盈利模式問(wèn)題。 首先是提出問(wèn)題階段，詳細(xì)介紹了我國(guó)經(jīng)紀(jì)業(yè)務(wù)的現(xiàn)狀和存在的問(wèn)題以及其歷年經(jīng)紀(jì)業(yè)務(wù)的收入情況、成本情況以及盈利情況，在做出這樣的定量分析之后，我們大致上就會(huì)形成一個(gè)對(duì)經(jīng)紀(jì)業(yè)務(wù)盈利模式的整體感性認(rèn)識(shí)。 接著是分析盈利模式問(wèn)題階段，包括經(jīng)紀(jì)業(yè)務(wù)盈利模式問(wèn)題成因分析（從收入和成本兩方面入手）和經(jīng)紀(jì)業(yè)務(wù)與市場(chǎng)集中度實(shí)證分析這兩個(gè)子部分。我們知道，其實(shí)經(jīng)紀(jì)業(yè)務(wù)總收入之所以還繼續(xù)維持著相對(duì)高的水平，完全是由于交易量的作用，這種靠量取勝、低端粗放型的盈利模式急需改變。通過(guò)觀察，我們發(fā)現(xiàn)現(xiàn)階段我國(guó)經(jīng)紀(jì)業(yè)務(wù)的競(jìng)爭(zhēng)是處于初級(jí)的類(lèi)似完全競(jìng)爭(zhēng)的一種狀態(tài)，其市場(chǎng)集中度相對(duì)于國(guó)外來(lái)說(shuō)是非常小的，于是我們會(huì)很自然的想到，是不是增加市場(chǎng)集中度就可以相應(yīng)增加經(jīng)紀(jì)業(yè)務(wù)總收入情況呢，循著這樣的思路，我們建立了一個(gè)實(shí)證分析模型，通過(guò)對(duì)經(jīng)紀(jì)業(yè)務(wù)集中度和經(jīng)紀(jì)業(yè)務(wù)價(jià)值量之間的EViews回歸分析，我們得出肯定的結(jié)論。 最后是解決盈利模式問(wèn)題階段，即找出避免一旦整個(gè)資本市場(chǎng)的交易萎縮，經(jīng)紀(jì)業(yè)務(wù)的總收入水平必然會(huì)在交易量和傭金率的雙重因素影響下加速下滑這一問(wèn)題的解決方法和創(chuàng)新對(duì)策。針對(duì)上述的成因分析和實(shí)證分析，我們知道增加市場(chǎng)集中度對(duì)增加經(jīng)紀(jì)業(yè)務(wù)總收入是有一定作用的，即確定了增加市場(chǎng)集中度是解決盈利模式問(wèn)題的一個(gè)方法。同時(shí)我們借鑒了國(guó)外的經(jīng)紀(jì)業(yè)務(wù)的創(chuàng)新道路，也可以得到其他一些解決途徑和創(chuàng)新對(duì)策。
[Abstract]:As is well known , most of the income of brokerage business in our country comes from brokerage business , and the most part of brokerage income comes from " traditional " brokerage business , namely commission business . As our country begins to implement the floating commission rate system in 2002 , each big and medium - sized securities firm has to lower the commission rate , so that " commission war " has become more and more intense , and in the near future certainly will greatly limit the development and innovation of the whole business of our country .

This paper systematically analyzes the profit - and - profit model of our country ' s securities brokerage business from the viewpoint of " put forward the problem _ analysis problem _ problem solving " .

First of all , this paper presents the problem stage , introduces the present situation and existing problems of brokerage business in our country , and the income , cost and profitability of brokerage business in the past years . After such quantitative analysis is made , we generally form an overall perceptual knowledge of the profit pattern of brokerage business .

We know that the competition of brokerage business in our country continues to maintain a relatively high level . We know that the competition of brokerage business in our country is still in a state of full competition in the primary level , and the market concentration is very small relative to the foreign countries . By observing , we have set up an empirical analysis model , which is based on the analysis of the EViews regression between brokerage business concentration and brokerage business value .

Finally , to solve the problem of profit pattern , it is found out that to avoid the transaction shrinkage of the whole capital market , the total income level of brokerage business must accelerate the solution of this problem under the influence of the double factors of transaction volume and commission rate . In view of the above - mentioned reasons analysis and positive analysis , we know that increasing the concentration of market is a way to increase the total revenue of brokerage business .

【學(xué)位授予單位】：河南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類(lèi)號(hào)】：F832.51

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