I 摘要 当前我国经济供给侧结构性改革已步入深水期，改革开放力度进一步加大，各行各 业都紧扣时代机遇，加快各自产业结构优化升级。金融机构在此期间扮演着举足轻重的 角色，为实体经济发展助力、为中小企业解决融资问题，为广大投资者提供丰富的投资 渠道，金融行业在整个资本市场当中具有牵一发而动全局的作用。作为一、二级市场最 主要的参与者，证券公司在我国资本市场的孕育、发展、成熟过程当中，一直拥有其独 特地位。但是随着互联网金融的蓬勃发展、信息技术的更新换代、新型投资工具的不断 推陈出新，证券行业面临着前所未有的竞争压力，行业平均佣金费率的一再下调导致经 纪业务净佣金手续费收入的不断减少，也让很多地方型中小券商的经营举步维艰。如何 在当前市场环境下强化自身生存和发展的能力，将核心主营业务发展策略进行优化调 整，制定出更具市场竞争潜力的业务发展策略，成为我国证券公司当前亟待改善的核心 问题。 本文首先根据 XB 证券公司的经营发展现状及其在行业中所处的地位，结合公司核 心四大主营业务的现状、分别存在的问题，以及造成各项问题的成因，运用 SWOT 分析 法对 XB 证券公司的内部优势、劣势，外部机会、威胁进行分析梳理，同时运用波士顿 矩阵法将四大主营业务进行分类，据此归纳总结出 XB 证券公司业务发展策略制定的目 标和原则，并最终设计制定出四大主营业务的发展策略。 本文希望通过对 XB 证券公司业务发展策略问题的分析和相关建议的提出，为全国 同类型的地方性区域型中小券商提供一定的借鉴和参考价值。 关键词，XB 证券公司、主营业务、业务发展策略西北大学硕士学位论文 II ABSTRACT At present, China's economic supply-side structural reform has entered the deep-water period, and the reform and opening up has been further strengthened. All walks of life are closely following the opportunities of the times and accelerating the optimization and upgrading of their respective industrial structures. During this period, financial institutions played a pivotal role in helping the development of the real economy, solving financing problems for SMEs, and providing investors with rich investment channels. The financial industry has a global role in the entire capital market. . As the most important participants in the primary and secondary markets, securities companies have always had a unique position in the process of gestation, development and maturity of China's capital market. However, with the rapid development of Internet finance, the upgrading of information technology, and the continuous innovation of new investment tools, the securities industry is facing unprecedented competitive pressure. The repeated reduction of the average commission rate of the industry has led to the continuous decrease in the commission fee income of brokerage services. It also makes the operation of many local small and medium-sized brokerages difficult. How to strengthen its ability to survive and develop in the current market environment, optimize and adjust various main business development strategies, and develop a business development strategy with more market competition potential, which has become the core problem that China's securities companies need to improve. Firstly, according to the current situation of XB securities company's business development and its position in the industry, this paper analyzes the current status of the four main businesses of XB Securities Company and their respective problems, as well as the causes of various problems, and then Using SWOT analysis method to analyze and analyze the internal advantages and disadvantages of XB securities companies, external opportunities and threats, and use the Boston matrix method to classify the four main businesses, and summarize the objectives of XB Securities' business development strategy. And principles, and ultimately designed to develop business development strategies for the four main businesses. This paper hopes to provide some reference and reference value for the local type of local small and medium-sized brokers of the same type through the analysis of XB Securities'ABSTRACT III business development strategy and related suggestions. Key words，XB Securities, Main Business, Business Development Strategy西北大学硕士学位论文 IV 目 录 摘要...........................................................................................................................................I ABSTRACT...............................................................................................................................II 目 录........................................................................................................................................IV 第一章 导论.............................................................................................................................. 1 1.1 研究背景及意义 .............................................................................................................. 1 1.1.1 研究背景.................................................................................................................... 1 1.1.2 研究意义.................................................................................................................... 1 1.2 研究思路与方法 .............................................................................................................. 2 1.2.1 研究思路.................................................................................................................... 2 1.2.2 研究方法.................................................................................................................... 2 1.3 研究内容与框架 .............................................................................................................. 3 1.3.1 研究内容.................................................................................................................... 3 1.3.2 研究框架.................................................................................................................... 4 1.4 本文的主要贡献 .............................................................................................................. 5 第二章 相关研究述评.............................................................................................................. 6 2.1 公司战略的相关概念 ...................................................................................................... 6 2.1.1 公司战略的定义........................................................................................................ 6 2.1.2 战略管理的定义........................................................................................................ 7 2.2 公司战略的理论和方法 .................................................................................................. 9 2.2.1SWOT 分析 ................................................................................................................ 9 2.2.2BCG 分析 ................................................................................................................. 10 2.3 对证券公司战略的针对性研究 .....................................................................................11 2.4 简要评论 .........................................................................................................................11 第三章 XB 证券公司业务发展策略现存问题研究.............................................................. 13 3.1XB 证券公司概况........................................................................................................... 13 3.2XB 证券公司业务发展现状........................................................................................... 13 3.3XB 证券公司业务发展策略现存问题........................................................................... 17目 录 V 3.3.1 传统经纪业务发展策略现存问题 ..........................................................................17 3.3.2 证券自营业务发展策略现存问题 ..........................................................................20 3.3.3 投资银行业务发展策略现存问题 ..........................................................................22 3.3.4 资产管理业务发展策略现存问题 ..........................................................................24 3.4XB 证券业务发展策略现存问题的成因分析 ...............................................................26 3.4.1 传统业务盈利能力下降 ..........................................................................................26 3.4.2 自营业务内部管控不到位 ......................................................................................28 3.4.3 投行业务项目储备较少 ..........................................................................................28 3.4.4 资管业务人才储备少 ..............................................................................................29 第四章 XB 证券公司业务发展策略的趋势分析...................................................................30 4.1XB 证券公司的 SWOT 分析..........................................................................................30 4.1.1 优势 ..........................................................................................................................30 4.1.2 劣势 ..........................................................................................................................31 4.1.3 机会 ..........................................................................................................................32 4.1.4 威胁 ..........................................................................................................................33 4.1.5SWOT 分析结论.......................................................................................................34 4.2XB 证券公司的 BCG 分析.............................................................................................36 4.2.1 明星业务 ..................................................................................................................37 4.2.2 现金牛业务 ..............................................................................................................37 4.2.3 问题业务 ..................................................................................................................38 4.2.4 瘦狗业务 ..................................................................................................................38 第五章 XB 证券公司业务发展策略的制定...........................................................................39 5.1XB 证券公司业务发展策略制定的目标和原则 ...........................................................39 5.2XB 证券公司业务发展策略的制定 ...............................................................................40 5.2.1 传统经纪业务发展策略的制定 ..............................................................................40 5.2.2 证券自营业务发展策略的制定 ..............................................................................44 5.2.3 投资银行业务发展策略的制定 ..............................................................................47 5.2.4 资产管理业务发展策略的制定 ..............................................................................49 第六章 XB 证券公司业务发展策略的实施与保障...............................................................52 6.1 优化组织架构与流程.....................................................................................................52西北大学硕士学位论文 VI 6.2 提升品牌知名度 ............................................................................................................ 52 6.3 推进人才队伍建设 ........................................................................................................ 53 6.4 完善信息系统内控建设 ................................................................................................ 54 第七章 结论............................................................................................................................ 56 7.1 主要结论 ........................................................................................................................ 56 7.2 不足之处 ........................................................................................................................ 56 7.3 进一步研究的问题 ........................................................................................................ 57