摘要 我国资本市场从成立至今已经经历了几十年的风风雨雨，取得了有目共睹 的卓越成就。伴随着我国资本市场一起成长的，是作为资本市场重要的中介机 构和融资平台的证券公司。近年来，我国证券行业发展迅速，证券公司已经成 为了我国金融系统不可或缺的支柱力量，地位和重要性越发凸显，证券公司的 实力不断增强，经营及管理水平也在不断提高。然而，随着国内资本市场的逐 渐放开，外资蜂拥而入，证券行业的竞争日趋激烈，佣金率快速下滑，证券公 司在业务模式、盈利模式都高度相似的生存环境面前，如何保持较强的核心竞 争力就变得极为关键。本文以核心竞争力和证券企业核心竞争力理论为基础， 总结借鉴国内外券商发展经验，以GL证券公司为研究对象，系统分析了中小券 商核心竞争力存在的问题及提升核心竞争力的路径，并从发挥资本效率、提升 人力资源管理及创新能力水平、加强内部控制和风险管理等方面提出了提升券 商核心竞争力的具体对策建议。 关键词：证券企业；核心竞争力；层次分析法 Abstract Abstract Sinceitsestablishment,China'scapitalmarkethasexperienceddecadesofups anddownsandhasachievedremarkableaccomplishments.Meanwhile,securities companies,asimportantintermediariesandfinancingplatforms,aregrowingwiththe developmentofChina'scapitalmarket.Inrecentyears,China'ssecuritiesindustryhas developedrapidly.Securitiescompanieshavebecomeanindispensablepillarof China'sfinancialsystem.Itsstatusandimportancehavebecomemoreprominent.The strengthofsecuritiescompanieshasbeencontinuouslyenhanced,andthelevelof operationandmanagementhasalsobeencontinuouslyimproved.However,withthe gradualopeningofthedomesticcapitalmarket,theinfluxofforeigncapital,the increasinglyfiercecompetitioninthesecuritiesindustry,andtherapiddeclineinthe commissionrate,itisextremelyimportantforsecuritiescompaniestomaintaina strongcorecompetitivenessinthefaceoftheenvironmentinwhichtheirbusiness modelsandprofitmodelsarehighlysimilar.Thispaperisbasedonthecore competitivenessandthecorecompetitivenesstheoryofsecuritiescompanies,this papersummarizesanddrawsexperiencefromthedevelopmentofdomesticand foreignsecuritiescompanies,andtakesGLsecuritiescompanyastheresearchobject, systematicallyanalyzestheproblemsofthecorecompetitivenessofsmalland medium-sizedsecuritiescompaniesandthepathtoenhancethecore competitiveness.Thispaperputsforwardsomeconcretecountermeasuresand suggestionstoimprovethecorecompetitivenessofsecuritiescompaniesfromthe aspectsofcapitalefficiency,humanresourcemanagementandinnovationability, internalcontrolandriskmanagement. Keywords:securitiescompany;corecompetitiveness;levelofanalysis Abstract 目录 第一章导论...............................................................................................1 第一节研究背景..................................................................................................1 第二节研究意义..................................................................................................2 一、理论意义........................................................................................................2 二、实践意义........................................................................................................3 第三节研究内容..................................................................................................4 第四节研究方法..................................................................................................4 第二章核心竞争力相关理论基础及文献综述......................................6 第一节关于核心竞争力......................................................................................6 一、核心竞争力的概念........................................................................................6 二、核心竞争力评价............................................................................................6 第二节文献综述..................................................................................................7 一、国外文献综述................................................................................................7 二、国内文献综述................................................................................................9 三、国内外学者关于核心竞争力研究的主要研究观点总结............................9 第三节证券企业核心竞争力..............................................................................9 一、证券企业核心竞争力界定............................................................................9 二、证券企业核心竞争力评价..........................................................................11 三、国内外学者关于证券核心竞争力研究的主要研究观点总结..................11 第三章GL证券核心竞争力现状分析....................................................13 第一节GL证券简介...........................................................................................13 一、地区情况......................................................................................................13 目录 II 二、GL证券概况.................................................................................................13 三、市场地位......................................................................................................13 第二节GL证券核心竞争力现状.......................................................................13 一、规模..............................................................................................................14 二、盈利能力......................................................................................................14 三、收入结构......................................................................................................14 四、风险管理......................................................................................................15 五、人才结构与管理..........................................................................................16 六、融资能力......................................................................................................17 七、成长潜力......................................................................................................17 八、网点数量......................................................................................................18 九、固定资产......................................................................................................18 十、投资收益......................................................................................................19 第三节选取GL证券核心竞争力关键指标......................................................19 第四节GL证券核心竞争力存在的问题及评价...............................................22 一、规模较小......................................................................................................22 二、盈利能力一般，波动较大..........................................................................22 三、收入来源单一，经纪业务依赖性强..........................................................22 四、风险管理能力压力较大..............................................................................23 五、人才结构不合理，人力资源管理未发挥有效作用..................................23 六、融资能力弱..................................................................................................25 第四章国内外先进企业核心竞争力提升经验总结............................26 第一节国外先进企业核心竞争力提升经验总结............................................26 一、通过兼并收购扩规模..................................................................................26 二、调整收入结构提升经营稳定性..................................................................27 三、提升盈利水平与风险控制..........................................................................28 四、金融科技投资与创新..................................................................................28 第二节国内先进企业核心竞争力提升经验总结............................................29 目录 III 一、扩大资本规模，获取充足现金流..............................................................30 二、改善业务模式，调整收入结构..................................................................30 三、完善治理结构，提升风控水平...............