Chinese Securities Firms. Core Competence Evaluation And Enhance The Research

The core capability of the investment bank is the capability or assets that cannot be imitated and substituted by his competitors, and is the basis that the corporation getting sustainable competitive advantage. After China entering WTO, the capital market is more and more opening up. Facing fierce competition with overseas counterparts, Chinese investment banking firms pay more attention to his own survival capability and development vision. The investment banking industry loses money in resent years mainly because Chinese stockjobbers lack core capability. As a result, it's a very important issue that how to evaluate and improve the core capability of the investment bank of China. This is just the research target of this dissertation.This paper makes research according to the axis that how to evaluate the core capability of the stockjobbers of China and uses different kinds of research methods, such as normative, positive, empirical and comparative institutional analysis research methods.The main research works of this dissertation can be generalized as follows:The first part is focus on the internal and external reasons why the stockjobbers of China lack of core capability on the basis of analyzing the actuality of the whole investment banking industry of China. The study outcomes of this part point out smaller capital scale, inferior making-profit capability, lacking of risk controlling and creative capability is the main causes of bad core capability of Chinese stockjobbers. This part include chapter 1.The second part establishes the evaluate system of the core capability of Chinese stockjobbers. Above all, this part gives an overview to the latest papers on the core capability research. Secondly, on the basis of the overview, this part selects 16 variables to establish the whole evaluate system from the angle of capital scale, market power, making-profit capability, financing capability, risk-controlling capability, creative capability, quality of the financial statement and industry focus. At last, by using factoring and focus method, this part studies the core capability of Chinese stockjobbers on the basis of 2002 data released by the CSRC. This part...