A Study On The Strategic Transformation Of F Securities Companies From The Perspective Of Institutional Environment

Securities industry in our country from start-up to now had passed more than two decades of history, from the original mixed into normative development of comprehensive treatment after the rectification, the government has a great influence on the transformation direction of China’s securities companies. Securities companies in our country had been dubbed the "weather" title, and had a lack of the management mode、service concept and business innovation. But now, the management modes of financial industry gradually become mixed, the securities company not only faced with the fierce competition in the domestic counterparts, but also the foreign securities companies. At the same time, domestic securities regulators are moving into leading innovation regulatory approach. Therefore, strategic transformation is the way Chinese securities firm.The present study believes that there is interdependent relationship between the institutional environment and the enterprises’strategic behaviors. But there is lack of attention being paid to special system under the institutional environment of Chinese securities businesses. This article is based on a review of the literature analysis and statistical observation, considering the particularity and maneuverability, then has obtained the more applicable special theoretical model. For test the value of model, we use the data of F Securities Company that from 2006 to 2011 and combine the factor analysis method. In order to explore the deep reason, the article adopts the method of red tape which is classify as three classes, explores the influence the institutional environment on the strategic transformation of F Securities Company at different growth stages. The conclusion is:under the action of the regulative institutional environment, the obedient attitude which the securities companies take to is good for the strategic transformation results. Visible, there is co-evolution relationship between institutional environment and enterprise strategic transformation; the effective responses of enterprise strategic transformation with the institutional environment ensure the success of the transformation. This article has theoretical research value, at the same time is good for the government and enterprises to develop effective enterprise policy of strategic transformation and build a reasonable system environment arrangement.