Research On The Impact Of Business Differentiation On The Competitiveness Of Listed Securities Companies In China

With the implementation of the new Securities Law,and the opening of the Beijing Stock Exchange.The policy environment is optimizing.However,the homogenization of companies is serious.Banks and other institutions are trying to open securities business.Medium-sized securities companies have internal and external troubles.Regulatory authorities emphasize categorical and differentiated supervision.Fintech has made competition among brokers more intense.Under the new situation,how can securities companies achieve differentiation positioning and enhance competitiveness? This is an urgent research topic.It focuses on 42 listed securities companies,and choose the relevant data from2017-2020.It aims to explore the impact of the bussiness differentiation on the competitiveness.Firstly,a competitiveness evaluation index system consisting of 27 indicators in 7 aspects was constructed.The principal component analysis method is used to obtain a comprehensive competitiveness score.Secondly,The explanatory variable is the competitiveness composite score.The classification rating scale and the scale of fintech investment are explanatory variables.And use these as explanatory variables.The controlling variables are the growth of the consumer price index and the gdp growth rate.After F and Hausman test results,a random effects model was selected.The relationship between the diversification of the brokerage’s business and the competitiveness is not simple linear.Therefore,three securities companies are selected.It is intended to illustrate the impact of business diversification on its competitiveness.This article proposes how securities companies should achieve differentiated operations and enhance their core competitiveness.The text uses a combination of qualitative and quantitative analysis,and a combination of empirical and case studies.In order to be useful for the differentiated operation strategy.