方正证 券资本战略研究-工商管理专业论文.docxVIP

摘 要 证券公司是资本市场重要的中介机构,对资本市场的健康发展有举足轻重的 作用。资本市场的效率和健康发展有赖于证券公司等经营机构的核心竞争力与 规范运作，证券公司要为长期的可持续发展寻求新的道路，就必须在新形势下 重新审视资本战略管理的各项要素，反思自己的战略规划实施过程，筹划企业 的经营谋略。 本文依据资本战略的基本理论，采用个案研究的方法，针对方正证券股份有 限公司（下述简称方正证券）从小到大发展过程中所采取的筹资战略、投资战略， 从时机选择、资产定价、达成目标等情况进行系统考量，分析得出资本战略实施 所产生的正负效应，并基于方正证券的资本战略模式，总结出对证券行业发展的 启示。 本文结构主要分为五章，第一章为绪论，介绍了选题背景、研究意义、研究 方法与论文的结构安排；第二章为方正证券资本战略的背景和条件，主要介绍方 正证券的发展历程、目标及资本战略实施的内外部条件；第三章从筹资和投资两 个方面对方正证券的资本战略模式进行了深入分析；第四章为方正证券资本战略 模式的正负效应分析；第五章通过以上对方正证券资本战略的阐述，总结从中得 到的启示，得出证券行业发展的普适性结论。 关键词：方正证券，资本战略，行业启示 ABSTRASCT A securities firm acts as an important capital market intermediary and plays a decisive role in the healthy development of the capital market. Efficient and healthy development of the capital markets depends on securities companies and other business organizations with the standardization of normal operation and core competitiveness of the company. In order for the securities companies to seek new avenues for long-term sustainable development, we must re-examine the strategic management of the capital based on the new situation and various elements to reflect on their strategic planning and implementation process , planning a corporate business strategy . In this paper, based on the basic theory of capital strategy , using the case study method to study Founder Securities Co., Ltd.’s ( referred to below as Founder Securities ) financing strategy, this investment strategy is adopted during the course of development stage. Using timing, asset evaluation, reach case objectives and other elements for system considerations, we can draw positive and negative effects arising from implementation of the strategy of capital and capital strategic. Furthermore, based on the capital strategy of Founder Securities, we sum up the inspiration for the development of the securities industry . The paper is divided into five chapters , the first chapter is the introduction, introduces the research background and significance, research methods and thesis; The second chap