基于波特竞争力模型的中国证券业产业结构分析及其优化

ANALYSIS AND OPTIMIZATION OF THE INDUSTRIAL STRUCTURE OF CHINA'S SECURITIES INDUSTRY BASED ON PORTER COMPETITIVENESS MODEL

证券业的产业结构是证券公司发展的外部环境,对证券公司的发展和竞争力的提升具有重要作用。通过分析建立在波特竞争力模型基础上的中国证券业产业结构,可以看出我国证券业产业结构在逐步优化,但同时也存在着过度竞争(证券公司的数量多、市场集中度不高)、产品差异化程度低、征券市场功能弱化等问题,造成这些问题的主要原因是市场退出机制不畅、创新能力不足导致的业务同质化和盈利模式的单一化、证券市场功能定位不合理,应通过健全退出机制等措施来调整优化。

Industrial structure is the external environment of securities companies and plays a very important role in the development of the companies and the enhancement of their competitiveness. An analysis of the industrial structure of China＇ s securities industry has shown that it is being optimized gradually. However, some problems are present, including over- competition, low diversity of products and inadequate market functions. The causes for such problems are imperfect withdrawal mechanism, lack of innovation capacity, and unreasonable stock market function. In order to optimize the structure of securities industry, a sound mechanism for withdrawal and other countermeasures are needed.