联系我们

论文查询结果	返回搜索

论文编号：	11267
作者编号：	2320170597
上传时间：	2019/12/10 16:37:03
中文题目：	B证券公司债券业务承销能力提升研究
英文题目：	Research on Improving Bond Underwriting Ability of BH Securities
指导老师：	李克文
中文关键字：	证券公司；债券业务；承销能力；保障措施
英文关键字：	Securities Firms；Bond Business；Underwriting Capacity；Safeguards
中文摘要：	近年来，随着资本市场的日益成熟和国家顶层设计的引导，2018年党的十九大提出了增强金融服务实体经济能力，提高直接融资比重，促进多层次资本市场健康发展的要求，并且2019年中央经济会议也将提高直接融资比例作为国家的一个重点工作。其中，债券市场作为金融直接融资体系的重要组成部分,是金融支持实体经济发展的核心发力点，在金融市场中发挥着越来越重要的作用。另一方面，近些年，债券市场出现较大波动，其中商业银行极力转型将债券承销业务视为必争之地；信托公司获准参与银行间市场债券承销业务；证券公司数量不断增加行业体量不断增长，并在激烈的竞争中形成了头部强势券商优势不断增加，中小型新设无强力背景的券商市场竞争力不断下降的形势。在如此严峻的市场竞争环境下，中小型券商如何提升自身能力，拓展债券承销业务获得新的增长成为考虑的重点。 本文运用了文献研究法、案例分析法和SWOT分析法，首先对我国债券市场发展、债券品种和中小型证券公司的债券承销环境和现状进行概述，然后以B证券公司为例进行研究，通过债券承销影响因素分析和SWOT分析，找出B证券公司债券业务承销提升方案和保障措施。 本文以信息不对称理论、委托代理理论和市场细分为理论基础,介绍了证券公司投资银行业务和职能，并结合债券市场细分将债券发行人按照所有制性质、所属区域、企业信用评级等要素进行市场细分，确定B证券公司三类目标市场，最终把B证券公司债券市场营销目标确定在支持进入类和谨慎进入类市场中。 最后,根据前面提出的市场定位,提供了一系列有助于B证券公司债券业务承销能力能够更好提升的配套保障措施。主要包括加强团队建设、优化业务审核流程、强化绩效考核、对客户的深度服务、债券承销业务中的风险防范以及严格信息披露等。
英文摘要：	In recent years, with the maturity of capital market and the guidance of top-level design of the country, the 19th National Congress of the CPC in 2018 put forward the requirements of strengthening the economic capacity of financial service entities, increasing the proportion of direct financing, and promoting the healthy development of multi-level capital market. In addition, the Central Economic Conference in 2019 will also increase the proportion of direct financing as a country. A key task. Among them, bond market, as an important part of financial direct financing system, is the core point of financial support for the development of real economy, and plays an increasingly important role in the financial market. On the other hand, in recent years, there have been great fluctuations in the bond market, among which commercial banks have made great efforts to transform the bond underwriting business as a necessary place; trust companies have been allowed to participate in the bond underwriting business in the inter-bank market; the number of securities companies has been increasing, the volume of the industry has been growing, and a strong head securities has been formed in the fierce competition. The market competitiveness of small and medium-sized securities firms is declining because of the increasing commercial advantages and the lack of strong backgrounds for new small and medium-sized securities firms. In such a severe market competition environment, how small and medium-sized securities firms improve their capabilities and expand bond underwriting business to achieve new growth has become the focus of consideration. This paper uses the methods of literature research, case analysis and SWOT analysis. Firstly, it summarizes the development of China's bond market, bond varieties and the bond underwriting environment and current situation of small and medium-sized securities companies. Then, it takes B securities company as an example to study. Through the analysis of the factors affecting bond underwriting and SWOT analysis, it finds out the improvement plan and guarantee measures of B securities company's bond underwriting. This paper uses the methods of literature research, case analysis and SWOT analysis. Firstly, it summarizes the development of China's bond market, bond varieties and the bond underwriting environment and current situation of small and medium-sized securities companies. Then, it takes B securities company as an example to study. Through the analysis of the factors affecting bond underwriting and SWOT analysis, it finds out the improvement plan and guarantee measures of B securities company's bond underwriting. Based on the theory of information asymmetry, principal-agent theory and market segmentation, this paper introduces the investment banking business and functions of securities companies. Combined with the bond market segmentation, the bond issuer is divided into three types of target markets, i.e. the ownership nature, the region, the enterprise credit rating and so on. Finally, the bond marketing objectives of B securities company are determined The standard is determined in the market supporting entry and cautious entry. Based on the information asymmetry theory, principal-agent theory and STP marketing theory, this paper introduces the investment banking business and functions of securities companies. Combined with STP model, bond issuers are divided into three types of target markets according to the nature of ownership, the region they belong to and the credit rating of enterprises. Finally, the target markets of B securities companies are determined. It is set in the market of supporting entry and cautious entry. Finally, according to the market positioning proposed above, a series of supporting implementation plans are provided to help B securities company to better improve the marketing ability of bond underwriting business. It mainly includes strengthening team building, optimizing business review process, strengthening performance appraisal, in-depth service to customers, risk prevention in bond underwriting business and strict information disclosure.
查看全文：	预览  下载(下载需要进行登录)