Evaluation On Competence Of Chinese Securities Companies Based On Twenty-five Listed Securities Companies' Data

China's capital market has shown a trend of vigorous development.As of June 2016,there were 119 Chinese securities companies and a wide range of business operations.With the capital market gradually opening,foreign capital can enter the domestic market,indicating that China's securities capital market is gradually connected with the international capital market.China's securities industry is also facing great challenges in industrial upgrading and transformation.Securities companies generally have problems such as homogenous competition,unreasonable income structure,and are affected by financial mixed industries.Complex and intense.Therefore,the securities industry managers are very concerned about the important issue of how Chinese securities companies maintain efficient development in the fiercely competitive domestic and foreign capital market environment.This article established the evaluation index system of China's securities company competitiveness.The index system chosen in the article was studied from eight aspects of the securities company's operation and management,and 19 specific data indicators were selected,involving the scale of operations,profitability,operational efficiency,solvency,risk management,governance structure,and market capabilities.First,factor analysis is used to evaluate the competitiveness of the five factors of scale,asset management,structure,profitability,and efficiency;and secondly,cluster analysis is used.The 25 sample securities companies were divided into five categories to conduct comparative research and evaluation of their competitiveness.Third,dynamic analysis was used to understand the comprehensive competitiveness of China's securities companies.The conclusions of the article are:(1)Factor analysis found that the overall competitiveness of China's securities companies in 2017 was relatively weak,and the weights of individual factors accounted for different sizes,the characteristics of the securities industry are Still based on the company's scale-led development model.(2)The cluster analysis found that the first type of securities companies have strong advantages in terms of scale,risk resistance,structure,asset management,efficiency,etc.The profitability factors and structural factors of the second type of securities companies have strong competitiveness.the third-class securities companies rank highly in the front,and so are the data of related indicators.The fourth-class securities companies are generally ranked in the upper-middle level and their assets.The fifth category of securities companies was characterized by small scale and weak resistance to risks.(3)Dynamic analysis found that most of the smaller securities companies were more likely to achieve growth.Therefore,the article proposes practical and feasible solutions from the perspective of internal management mechanism and external institutional environment.