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China's Securities Company Competitiveness Research Based On Factor Analysis

Posted on:2013-10-05Degree:MasterType:Thesis
Country:ChinaCandidate:W XieFull Text:PDF
GTID:2249330395950638Subject:Finance
Abstract/Summary:PDF Full Text Request
With the continuous development of national economy, the capital market of our country gradually grows. By the end of2011, the Shanghai and Shenzhen Stock Exchange had a total of2342listed companies, and over200million stock accounts. The total market value was21.48trillion yuan. China has becomed the world’s third largest stock market.As China’s economy develops further, it will gradually enter the phase of economic structural adjustment. The mode of economic growth will change from extensive to intensive, and the drive of economic growth will switch from investment to consumption. All these changes provide great opportunities for capital market.However, at the same time, China’s securities industry is also facing enormous challenges of industrial upgrading and transformation. China’s securities companies are involved in homogeneous competition, unbalanced income structure, financial mixed operation and international competition. Therefore, securities companies have to continuously enhance their own strength and to improve the competitive abilities.This paper firstly gave a summary to the enterprise competitiveness theory, then buildt a competitiveness evaluation index system for China’s securities companies. The index system included24detailed indexs, which related to the operating scale, profitability, operation efficiency, liquidity, risk management, governance structure, market power, income structure and innovative ability. Then, this paper conducted in-depth analisys on the basis of the index system.First, China’s securities companies were evaluated on their scale, structure, operation, efficiency, asset management business and profitability, by the method of factor analysis.Then, the40samples were divided into6types by the method of cluster analysis, inorder to have a correct judgement on their competitive advantages and disadvantages.Third, dynamic analysis method was used to have knowledge of the competitiveness growth of China’s securities companies.Finaly, this paper built a model for both China’s securities companies and international famous investment banks to find out the gaps between them.According to the above analysis, this paper gave countermeasures of promoting the competitiveness of China’s securities companies.
Keywords/Search Tags:Securities companies, Competitiveness, Evaluation index system, Factor analysis
PDF Full Text Request
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