【作者】 周可峰；

【导师】 谢朝斌； 蔡德容；

【作者基本信息】 湖南师范大学 ， 产业经济学， 2005， 硕士

【摘要】 新中国证券市场经过了十多年的发展目前已成为国民经济的重要组成部分,证券市场的参与主体之一的证券公司,在这十年中也得到了快速的发展。证券领域作为一个特殊行业多年来一直受到政府的扶持与保护。证券交易佣金自新中国股票交易市场成立以来一直是绝大部分证券公司主营业务收入的50%以上,可见证券交易佣金对证券公司的经济效益影响是巨大的。 2002年5月中国证监会发布了“关于调整证券交易佣金收取标准的通知”将原较高比例的固定佣金改为浮动佣金从而引发了一轮券商之间的佣金价格大战,从而也引起了监管部门的高度重视。中国证监会,中国证券业协会也纷纷将探讨研究境外国家或地区证券监管机构在佣金自由化中是如何发挥自身作用的,本文针对这一问题对美国、日本、英国、台湾、香港等相关国家或地区的佣改行为及监管部门是如何发挥自身作用问题的进行了深入研究试图为本国监管部门提出有益的建议。 本文最后从全球主要证券市场佣金制度变革以及所在国监管机构的措施上进行了横向比较。在文章最后总结得出了本文观点: (1) 佣金自由化后,有关国家或(地区)的券商佣金恶性竞争均只是暂时现象。 (2) 各国证券业协会均发挥了积极作用。 (3) 国外(或地区)佣金自由化的背景和我国显著不同。 (4) 佣金自由化后实行改革后的国家(或地区)的券商都面临着业务重心转移的问题。 (5) 任何实行佣金自由化的国家(或地区)都没有逃避过券商破产、并购重组等问题。 (6) 由于行业自律组织并不是一个行政机构,因此对会员违规或不正当行为的惩处主要由监管部门负责。更多还原

【Abstract】 After 10 years’ development, the security market has become the key component of domestic economy in China. At the same time, the security companies went through a rapid growth. As a special industry, the security market has been supported and protected by central government. The income of security trade commission is above 50% of most security companies’ main business income from the beginning of the establishment of the stock market. It is obvious that the security trade commission plays an important role in security companies’ earnings.In may 2002, China Securities Regulatory Commission put forward the document "as for adjusting the security trade commission standard" that the original higher fixed commissions have to change to free commission within certain range, thus a violent competition broke out among the security companies. The administration department paid close attention to the development of the event. China Securities Regulatory Commission and The securities Association of China then began to research on how security administration department in other countries play their role in the free commission policy. This essay goes deep in some foreign counties’ commission revolutions and how their administration departments play their role in the commission adjustment and intends to give some advanced suggestion to our country.At the end of this essay, givew a comparison to the commission policy revolution in some important securities markets and the measurements of the respective administration department made.At the end, draws some conclusions as follows:(1)After the enforcement of the free commission policy, the vicious competition among security dealers is temporary.(2)The securities association in each country plays an active role in the更多还原