| Along with the great historical journey of reform and opening up,my country’s capital market has experienced a development process from scratch since the 1990s.At present,the scale of my country’s stock market,bond market and other capital market sectors ranks among the top in the world.Securities companies are important participants in the capital market and play an indispensable role in the operation of the capital market.Investment banking is one of the core businesses of major securities companies.At this stage,my country’s securities companies are generally small in scale.Compared with international investment banks,their market competitiveness is weak,and the investment banking services of my country’s securities companies are mainly concentrated in stock and bond underwriting,issuance sponsorship,corporate mergers and acquisitions and In terms of financial advisory services represented by non-public offering of stocks,the business scope is relatively narrow.For a long time,due to factors such as strong business homogeneity,the competition in the investment banking business of securities companies has become more and more intense.The competitive advantages of leading securities companies are obvious,and the competitive pressure of small and medium-sized securities companies has increased sharply.Under the background of the continuous deepening of financial supply-side reform and the continuous improvement of the multi-level capital market,DW Securities,as a representative medium-sized securities company,must explore and formulate solutions suitable for its own development if its investment banking business wants to stand out in the fierce market competition.Competitive strategy of the situation.At the same time,in view of the similarities in the operation and development of domestic securities companies of comparable size,this thesis may have a certain reference value for the investment banking business of such securities companies to choose an appropriate competitive strategy in the current market environment.In addition,this thesis studies the investment banking competition strategy of specific securities companies in combination with the securities industry environment,which also helps to enrich the research results of investment banking competition strategy theory.Based on resource-based view theory,core competency theory,dynamic competency theory,and quantum management theory,this thesis draws on research achievements in competitive strategy,quantum management,and related fields of investment banking,and adopts literature analysis,comparative research,questionnaire survey and other research methods.,using PEST analysis and Porter’s five forces model to analyze the external macro environment and industry competition environment of DW securities company’s investment banking business respectively,using the value chain model to analyze the value chain of DW securities company’s investment banking business,and in the On this basis,the key factors in the internal and external environment of the investment banking business of DW Securities Company are analyzed and summarized,and then the key factors in the internal and external environment of the investment banking business of DW Securities Company are systematically analyzed by using the EFE matrix and IFE matrix analysis tools.analysis.When formulating the investment banking business competition strategy of DW securities company,this thesis uses SWOT analysis tool and QSPM matrix analysis tool to expound the alternative competition strategy and feasibility of DW securities company investment banking business,and on this basis,determine the current stage DW Securities’ investment banking business should adopt a differentiated competition strategy.Subsequently,this thesis proposes that the investment banking business of DW Securities can implement differentiated competition strategies from the aspects of customer service,key businesses,market expansion,program design,business development,compliance and risk control;this thesis further proposes that DW Securities Investment Banking The safeguard measures for the implementation of the differentiated competition strategy in the business mainly include optimizing the network layout,improving the incentive mechanism,enhancing the capital strength,accelerating the digital transformation,improving the operation and management level,and strengthening the construction of the corporate culture. |
