X证券公司新三板业务竞争战略研究

【作者】 王博；

【导师】 张龙；

【作者基本信息】 西北大学 ， 工商管理（专业学位）， 2016， 硕士

【摘要】 X证券公司地处西北地区,属于中小型证券公司,公司自2007年开始涉足新三板业务领域,主要为客户提供新三板推荐挂牌、持续督导、再融资、并购重组等方面的资本市场相关服务。伴随着我国证券市场的发展,新三板业务已成为我国发展多层次资本市场中一项重要组成。2014年新三板全国扩容后,新三板市场挂牌企业数量飞速增长,市场规模不断扩大；投融资市场火爆,再融资业务与投资者规模不断扩大；交易活跃度提升,流动性增强；并购业务数量大幅增长。然而,巨大的市场机遇也使行业内从业公司数量迅速上升,市场竞争加剧；各证券公司形成以优势业务为核心的差异化竞争格局；新三板整体监管环境加强,对从业证券公司提出更高要求。面临市场竞争的冲击,X证券公司虽然在长期的业务积累下为公司赢得品牌优势及政府社会资源,扁平化管理体制为提高业务效率奠定良好基础,但团队建设成熟度与激励措施不够成为阻碍业务快速发展的因素,后续增值服务业务与前期业务延续度不高亦阻碍了整体业务效率提升。本文通过SOWT分析,得出X证券公司面临项目经验、品牌、人力资源、管理效率等方面的优势,也面临项目人员综合素质有待提升、专业投资研究力量薄弱的劣势；面临国家政策大力支持、市场快速发展、高层大力支持的发展机遇,也面临市场竞争激烈、外部监管及能力要求提升的挑战。结合X证券公司内外部环境分析,针对公司实施三种竞争战略的优劣势比较分析,从而得出：差异化战略是X证券公司新三板业务适宜采取的最佳竞争战略。差异化战略实施的要点为：X证券公司应努力注重寻找业务突破口,打造优势业务品牌；提高服务质量,为企业挖掘潜在市场价值；合理规划业务布局,避免资源内耗降低业务效率。最后,本文针对X证券公司的竞争战略制定了保证战略有效实施的措施,提出X证券公司需在薪酬及绩效考核体系建设、风险控制体系建设、客户服务能力、营销服务意识、多部门协作等方面加强,才能强化公司在新三板业务的竞争实力,立于不败之地。本文的研究不仅有助于使X证券公司形成自身的核心竞争力,同时还能对其他证券公司的新三板业务提供参考思路,具有指导意义。更多还原

【Abstract】 The securities company is located in the northwest region, which belongs to the small and medium-sized securities company, since 2007 the company began to get involved in theNational Equities Exchange and Quotations (NEEQ) business, mainly to provide listed recommendation on theNEEQ, continuous supervision, refinancing, mergers and acquisitions and other capital market services for customers. With the development of the securities market, NEEQ has become an important part of China’s multi-level capital market.After the expansion in 2014, NEEQhad rapid growth in the number of listed companies, continuous expandingof the market; Refinancing business and investors have been expanding; trading activity andfluidity increasing, substantial increase in the number of mergers and acquisitions. However, the huge market opportunities will make the number of companies in the industry to rise rapidly,which gave rise to moreintensified market competition; the securities companies form a competitive landscape with different advantages; strengthen the overall regulatory environment of the NEEQ, put forward higher requirements on the employees of securities companies. Facing the impact of the market competition, although the X securities company in the long-term business accumulated for the company to win the brand advantage and government social resources, flat management system to lay a good foundation for improving business efficiency, the team construction maturity and incentive measures are not become an obstacle to the rapid development of business, the subsequent value-added services and pre business continuity is not high also hindered the overall business efficiency.Through SOWT analysis, this paper draws on the X securities company facing project experience, brand, human resources, management efficiency and other advantages, also facing the disadvantagesuch as project personnel comprehensive quality to be improved, professional investment research is weak; facing the development opportunities for the strong support of national policies, market fast development, high-level support, also market competition fierce, external supervision and ability raise challenges as well. According to X securities company’s internal and external environment analysis, comparative analysis about the implementation of the three competitive strategies for the company’s advantages and disadvantages, this papergets a conclusion thatthe differentiation strategy of X securities is the best choice for NEEQ business. Key points of the implementation of differentiation strategy for X securities company should focus on looking for a business breakthrough, building brand advantage business; improving the quality of service, mining the potential market value for the enterprise; planning reasonablebusiness layout, avoiding friction reducing efficiency of business resources.Finally, according to the present situation of X business of securities companies,this paper sets ensures the effective implementation of strategic initiatives, puts forward the X securities company should strengthen on compensation and performance appraisal system, risk control system construction, customer service, marketing service consciousness, multi sectoral cooperation and other aspects, in order to strengthen companies in the NEEQ business competition in an invincible position.The study of this paper not only helpsmake the X securities company form its own core competitiveness, but also can provide reference ideas for the NEEQ business of other securities companies.更多还原