The Authorization And Supervision Of Securities Companies’ Proprietary Business By Game Analysis Under Internal Control

In August 16, 2013, "China Everbright Oolong events" caused a great disturbance in the securities market, this also caused widespread concern in the academic circle and practice circle, which fully showed that the internal control of securities companies proprietary business during the execution would seriously from the original intention of setting up, so how to deal with internal power becomes an important problem that should consider the establishment of securities companies and the implementation of internal control. The problems of internal control mechanism of authorization of securities companies have good research value. Based on this, this paper uses internal authorization process of securities companies proprietary business as the theme, construct the game theory model, by the securities company proprietary business to establish a perfect internal control system and provide a theoretical basis.In this paper, based on a review of current study at home and abroad, combined with industry background and the present situation of securities companies, the paper puts forward the research opportunities. Based on the statistical description of the current situation of internal control of securities companies’ proprietary business, combined with relevant theory, build the game model of this article. By controlling the stage activities authorized investment decision committee- proprietary business sector- operator three level game model and control of the activities of supervision for compliance director led supervision Party- led to the operator by supervision party two party game model, the conclusions are as follows: in the authorization, the positive influence of securities the company’s proprietary business fully authorized by full authorization, proprietary departments operator, operator adventure adventure operation success probability, and the investment decision committee will be in full and not fully authorized under the condition of basic income difference, the difference of the excess proceeds, and proprietary desks percentage, the percentage and fully by the operator the CSRC, the volatility of stock market losses and not fully authorized loss and punishment gap will fully authorized to investment decisionCommittee has negative influence. In the supervision of control activities, in violation is not found the extra return case more supervised, compliance director will increase the supervision of Party organization and implementation audit probability; be supervision violations were found by the punishment more, supervision of Party organization and implementation audit found by supervision probability of violation is large, the compliance director of audit project selection probability is smaller. Based on the game model, the fifth chapter introduces the Everbright Securities in case analysis, the research results are applied to the China Everbright Securities.