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摘要： 从1991年上海深圳证券交易所相继成立以来，我国证券市场经历了二十多年的发展，证券公司从无到有，从小到大，发展速度惊人。1998年《证券法》，把我国券商分为综合类券商和经纪类券商。综合类券商是指依法设立的除了可以经营经纪类证券业务以外还可以经营证券承销、证券自营、资产管理等综合证券业务的金融机构。然而传统的盈利模式使我国综合类券商的收入与二级市场走势紧密相关，具有极高的不稳定性和周期性,存在着极大的经营风险和系统性风险。金融体系中存在的这种弱点对我国经济的发展和金融制度的变革十分不利。因此对我国综合类券商盈利模式的研究显得尤为必要。盈利模式涉及到券商经营的各个层面，是经营发展模式的重要组成部分。研究券商的盈利模式能够为其提供应对证券市场变化的相关举措，转变其经营发展模式，避免二级市场的波动性变化对券商造成过分冲击，帮助其形成可持续发展的盈利能力。37488
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本文通过对我国综合类券商盈利模式的研究、分析，参考已有理论和对盈利模式的相关研究，分析我国综合类券商盈利模式的发展现状。联系当前证券业改革，分析当前我国综合类券商盈利模式中存在的问题及形成的原因，比较多种现有盈利模式的特点，并总结出最优的盈利模式发展方向.最后从宏观管理方面、业务创新方面和政策制度方面探讨出我国综合类券商盈利模式发展转变相应的建议与对策。
毕业论文关键词：综合类券商 盈利模式 对策与建议
Research on the profit model of integrated securities firms
Abstract: China’s stock market has experienced 20 more years of development since Shanghai and Shenzhen Stock Exchange were established in 1991.Securities companies develop from small to large ,at an alarming rate. In 1998, "Securities Act" pided the country's securities companies into comprehensive securities companies and brokerage securities companies. Comprehensive securities companies means which can not only operate securities brokerage business, but also engage in securities proprietary trading, securities underwriting, asset management and other integrated securities services for financial institutions established by law. However, the traditional profit model of integrated securities result in revenue curve and market trends highly correlated with high instability and periodic larger risks. This situation clearly exposed the weaknesses of the financial system, as well as for the development of the financial reform of China's economy will have a very unfavorable risk. So the study of integrated securities profit model is particularly necessary. Profit model is an important part of the development model of the securities company, related to all aspects of the securities company. Equity Research's profit model can provide securities companies respond to market changes against initiatives to improve the securities company's business, changes in the market to avoid excessive impact on securities firms, securities companies the ability to help the formation of sustained profitability.
Through researching on our integrated securities profit model, and referring the existing profit model theory and related research, this article analyzes current development of integrated securities profit model. Contact current securities industry reform, analyze the current profit model of integrated securities and the reasons for the formation in the presence, characteristics compare multiple existing profit model, and concluded that the best profit model development. Finally, we discuss the macro management, business innovation and policy regimes of our integrated securities change the profit model development corresponding suggestions and countermeasures.
Key Words：Integrated securities Profit model countermeasures and suggestions