中国证券研究机构功能定位与评价机制的解决方案

Solutions to the Functional Orientation and Evaluation Mechanism of China's Securities Research Institutes

本文发现国内证券研究机构存在证券研究同质化、行业集中度较低、研究质量下降、研究与销售服务本末倒置等问题,而研究机构功能定位的局限性与内外评价机制的短期化与主观化是问题之症结。结合我国证券公司业务转型的需求,建议证券研究加强对内服务功能,并推动研究对象的国际化与差异化,服务对象的多元化与综合化,以及证券研究商业模式的新型化;同时建议建立客观的内外评价机制,引导全社会价值投资理念的形成。

The article finds some problems with China's securities research institutes,such as the securities research is homogenous,the industry concentration is low,the quality of research is declining,the research and marketing services is upside down,and other issues.Combined with the needs of business transformation of China's securities companies,we suggest that the securities research strengthen the function of internal services and promote the internationalization and differentiation of research objects,the diversification and integration of services objects,and the new business pattern of securities research;also recommend to build an objective internal and external evaluation mechanism,and guide the formation of the concept of value investment in the whole society.