基于SCP范式的中国证券产业发展研究

Research on Securities Industry Development by SCP Paradigm in China

以哈佛大学的梅森和贝恩等人为代表的现代产业组织理论为基础,系统分析SCP范式在中国证券业市场结构、市场行为及市场绩效,其实证研究结果表明,我国证券行业市场集中度偏低,市场结构属于低寡占状态,由此导致行业绩效不佳。其原因是监管机构采取了严格的规制措施。我国应结合实际情况,适度放松规制,促进行业绩效的提高。同时,应通过深化制度创新,注重业务创新,完善治理结构、改善业务结构来促进中国证券产业健康有序发展。

Analyzingsecurities market structure, behaviorandpefformancebySCPparadigmin China, accordingtoamodemindustrialorganizationtheorywhichrepresentedby Masenand Bain of Harvard University, the studyshowed thatlowmarket concentration andloweligopolistic market structure lead to poor industry performance, to which strict regulatory measures by supervision authorities are the cause. In order to facilitate the healthy and orderly development of the securities industry, eombiningwith the actual situation, the government should relax regulation moderately, deepeninstitutionand businessinnovation, andperfrfect governance structure and business structure.