Comprehensive Strength Of China's Securities Companies

It is of importance to accelerate the development of the stock market, which is essential to the development of the capital market, the investing and financing management of many enterprises and the investment and financial management for a large number of investors in China. As the intermediaries and important investors in the stock market, the development of security companies also demand immediate attention while the development of the stock market is accelerated.The fact that currently there are too many but small-scale security companies in China with low efficiency and industrial concentration has caused the dispersion of resources and affected the comprehensive strength of the security companies. Therefore, it is not only the priority for the development of the security companies themselves but also an issue which should be much concerned by our stock market and security regulatory authorities to strengthen the comprehensive strength and improve the competition of security companies in China. At present, it is necessary to set up a series of complete and practical evaluation system in China used to make an objective and reasonable evaluation of security companies' business according to the current operating situation, characteristics and development of our security companies. So the system not only provides objective standards for security companies to compare with others, be clear about their own strengths and weaknesses and the goal to achieve but also offers important means for the security regulatory authorities to know the current domestic operating situation and the features of market competition. Besides, it is necessary to give some recommendations to strengthen the comprehensive power of security companies, which must have great significance to the development of them and the stock market.In view of this, this paper first reviews the present situation of the security companies and their problems, then with the analytic hierarchy process (AHP) method establishes a comprehensive evaluation system which is comparatively systematic and fits the security companies well in China by scientifically selecting eight indexes such as material resources, human resources, risk management capacity, profit capacity, R & D capacity, growth capacity, financing capacity and market influence based on a detailed analysis of the security companies' characteristics and the factors influencing their comprehensive strength. This system is supposed to scientifically reflect all aspects of the security companies' comprehensive strength. What's more, some significant solutions are drawn from the empirical analysis of several security companies selected as samples with this evaluation system by the order of their comprehensive strength. Finally this thesis put forward some constructive suggestions to improve the security companies' comprehensive strength according to the main factors influencing it.