Analysis And Comparative Study On Income Structure Of Listed Securities Companies

In September,1987,as the new China's first securities company in Shenzhen Special Economic Zone Securities--Ju Tian securities formally established.Since then,Securities companies are developing rapidly.The healthy development of securities companies is related to the stability of financial markets.The income of securities companies is increasing,but there is no significant change in the income structure of securities companies,it did not change the "depend on the day" pattern.In 2008,the subprime crisis,In 2015,the stock market skyrocketed.Extreme market conditions bring disaster to securities companies that rely on traditional business operations.Therefore,by route of ask questions,analyze the reasons,the idea of solving the problem,then,by giving advice to securities company's income structure to enhance the comprehensive competitiveness of securities companiesThis paper adopts the method of data statistics,graphic analysis and case analysis.We collected the data from December 2013 to June 2016 of 24 listed securities companies for special research.The first,define and classify the income structure of a securities company,conclude the development characteristics and laws of the income structure of securities companies.The second,analyze the problems and reasons of the overall income structure of listed securities companies.The third,analyze the difference and commonality of income structure and profitability of different types of securities companies,and select two companies in each category as an internal comparison,then find differences and reasons.This paper obtains conclusions:(1)Securities company has a special law of development of Banks' income structure(2)The problems and present situations existing in the listed securities company's income structure:rely on traditional business,operating risks;innovative business development,but impeded;business is not compliance,lack of risk defense mechanism;cost increases,cost control is very necessary;homogeneity phenomenon is serious,lack of differentiation(3)Innovative,national securities company income structure different from normative,regional securities company income structure,the former profitability is superior to the latter.And put forward the proposals on the basis of the conclusions.