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论文编号：	8659
作者编号：	2120142844
上传时间：	2016/12/6 19:52:05
中文题目：	光大证券投资咨询业务研究
英文题目：	Research on the Investment Advisory Service of Everbright Securities
指导老师：	郝臣
中文关键字：	证券投资咨询；投研体系；盈利模式；内控制度；绩效考核
英文关键字：	securities investment consulting; investment and research system; profit model; internal control system; performance appraisal
中文摘要：	近年来我国股票市场快速发展，注册制改革是必然趋势，低审核标准下的上市公司数量将激增，直接考验投资者对公司的甄别能力。其次，投资者结构变化，尤其是新兴机构不断壮大，证券公司需要改进投资咨询方式以适应不同机构的个性化需求。最后，互联网金融的兴起引发的价格战直接威胁券商的盈利能力，券商开始重视投资咨询服务质量，以防止市场份额的快速下滑。在此背景下，本文以价值投资为理论基础，参照我国证券公司投资分析方法论体系，立意于考察证券公司投研体系建设，并确定以投资咨询业务存在的问题及改进方法为本文的研究对象，提升投资咨询业务水平以提升证券公司的软实力。研究投资咨询业务问题有其必要性和重要意义。证券投资咨询工作旨在通过建立一整套完整的投研方法论体系研究市场中的宏观趋势、投资策略、行业景气度和个股成长性，并把这些研究成果以投资顾问的形式传达给客户，提高客户的盈利能力和客户粘性，从而提升证券公司各项业务的附加值。完善和解决投资咨询业务问题有助于证券公司经纪业务从散户化和价格战的现状中解脱出来，与其他券商形成差异化的竞争优势，在投资者结构不断完善的市场中可持续发展。本文采用规范研究和案例研究相结合的方法得出以下主要结论：针对投研方法在新兴市场的适用性问题提出改进投资分析方法，并建立上下一致的投研培训体系。提出加强监管和内部控制制度建设的具体建议。加强研究所特色建设以提升品牌竞争力。建设内部服务定价体系，转变盈利模式。改进考核体制和激励机制以转变咨询方式。上述研究结论可用于指导提升光大证券投资咨询业务体系建设的相关实践。其创新之处体现在：提出了基于方法论上下统一的证券公司投资咨询管理体系，将投研系统与公司其它业务相结合，并提出了完善措施。
英文摘要：	In recent years, with the rapid development of China's stock market, the registration system reform is an inevitable trend. The number of listed companies under the low audit standards will surge. It will test the investors' ability to identify the company. Secondly, investor structure is changing, especially in the emerging institutions, securities companies need to improve the investment advisory mode to adapt to the individual needs of different organizations. Finally, the rise of Internet banking triggered a price war is a direct threat to the profitability of the broker, the broker began to pay attention to the quality of investment advisory services to prevent the rapid decline in market share. Under this background, this paper take the value investment theory, referring to China's securities companies investment analysis methodology, aims to study securities investment research system, and determine the method exists in the investment advisory business problems and improvement as the research object of this paper, enhance the investment advisory business level to enhance the soft power of the securities company. It is necessary and important to study the problem of investment advisory business. The securities investment consulting work aims to establish a complete set of macro investment trends, research methodology system of market investment strategy, industry boom and growth stocks, and the results of these studies on investment adviser form to convey to customers, improve customer profitability and customer stickiness, so as to enhance the added value of other business of the company. To improve and solve the problem of investment advisory business will help the securities brokerage business free from the current retail price war and form a differentiated competitive advantage with other firms, sustainable development in the continuous improvement of the market structure of investors. This paper uses the method of normative study and case study. The main conclusions are as follows: Aiming at the problem of the applicability of the research methods in emerging markets, put forward the improvement methods of investment analysis, and build up favorable investment research training system. Suggestions on strengthening the supervision and construction of the internal control system are proposed. To built the characteristics of the business will enhance the competitiveness. Construct internal service pricing system and change the profit model. Improve the evaluation system and incentive mechanism to change the way of consulting. The conclusions of the study can be used to guide the development of China Everbright Securities Investment consulting business system. The innovation is reflected in the following: a unified securities company investment advisory management system based on the methodology, the investment research system and the company's other business combination, and put forward the improvement measures.
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