The Split Share Structure Reform Era Of China's Brokerage Business Innovation And Profit Model Transformation And Explore

For one important part of our national financial system, stockbroker is also an important organizer and participant of stock market. During more than ten years, the earnings mode of the Chinese stockbroker is the mode meaning"channels". Most stockbrokers are placed in kindred competition stage, the area of their operation is strait, the structure of the operation is highly similar, and the earnings mode tends to accordant. The structure of the operation mainly limits for these traditional operations, such as issue and consigning of the securities and the brokage. The structure is single and related to the active degree of the market. When the market is undulating acutely, survival and development of the stockjobbers are influenced inevitably, because they have lacked tools to avoid danger and lacked the profit point to support chronically. The national stockbrokers earnings mode is single because of the factors of market and itself, but deeper reason is the institutional factor for discerption of capitalization. This paper discusses innovating operation and changing earnings mode of our national stockjobbers for the background of discerption of capitalization.The paper has 5 parts:Chapter 1: Preface mainly describes the background of this research, and explains other scholars'main opinions about the earnings mode of the national stockbroker.Chapter 2: Gives a presentation of our national stockjobber: explains our national stock's operation, effect and development stage etc.Chapter 3: Introduces the earnings mode of the national stockbroker and compares to foreign craft brother: analyzes the main problem of the earnings mode of the national stockbroker and explains the reasons.Chapter 4: Explains development environment of the national stockbroker after discerption of capitalization: describes two parts from opportunity and risk.Chapter 5: Explains innovating operation and the earnings mode transformation: indicates definitely innovation is main direction and way of the earnings mode transformation for our national stockbrokers, and discusses detailedly these aspects, such as brokage operation, investment bank operation and financial product innovation.Conclusion: Explains main opinions about this paper.