Research On The Competitiveness Of Listed Securities Companies In China

In recent years,China capital market developed sustainably and rapidly,securities companies as the main financial institution of the capital market,after the four stages of start,standardized,innovation and steady development,show a good momentum of development.However,due to various reasons,there are a series of problems in China's securities companies,such as insufficient capital strength,unreasonable income structure,weak management and innovation ability.With the deepening of the opening up of the capital market and the acceleration of the pace of financial integration,local securities companies will face the increasingly competitive and complex internal and external competitive environment,their future competitiveness is worrying.Therefore,this article summarizes the relevant literature and theory of competitiveness,and actively explores the competitiveness evaluation method of securities companies,study combined with the listed securities company launched a case,it will has a certain practical significance to guide the orderly competition in securities industry,improve the quality and competitiveness of the securities company operation,promote the healthy development of the capital market.This paper takes 22 listed securities company in Shanghai and Shenzhen Stock Exchange as the objects,establishes the listed securities company competitiveness evaluation system and model in China,with annual data in 2015 as the basis for the quantitative evaluation of the comprehensive competitiveness of securities companies.Firstly,this paper summarizes the latest research achievements of the competitiveness of securities companies at home and abroad,elaborates the connotation and business characteristics ofsecurities company,Secondly,from 3 aspects of Potter's theory of "five forces" model theory,value chain theory and resource differencestheory,factors affecting the demonstration analysis on the competitiveness of securities companies,forms a system of 60 indicators covering many aspects of finance,business,management,risk control and human resources.thirdly,using factor analysissupplemented by principal component analysis,establishesa model of6 modules including19evaluation indicators,analyzes the competitiveness evaluation of 22 listed securities companies,the evaluation results show that,the management factorwith the capital strength,business ability,channel condition and human resources management is the fundamental factor in securities company,the competitiveness of the income structure,the level of risk control is the effective supplement of the competitiveness of securities companies.Finally,combining the characteristicsof China's securities industry attaching importance on assets,talents and financial of the trend of mixed operation,this paper raises somesuggestions to improve the comprehensive competitiveness of securities companies,such as continue to expand capital strength and asset size,advance the layout of financial mixed operation,development of professional services,solid the basisof compliance and risk control,strengthen talent management,enhance the soft power of securities companies.